Illinois Administrative Code
Title 14 - COMMERCE
Part 120 - MANUFACTURING ILLINOIS CHIPS FOR REAL OPPORTUNITY (MICRO) ACT
Subpart B - TAX CREDITS
Section 120.80 - Determination of Amount and Term of the Credit

Universal Citation: 14 IL Admin Code ยง 120.80

Current through Register Vol. 48, No. 38, September 20, 2024

a) The Department shall determine the amount and duration of the MICRO Illinois credit awarded under the Act.

b) The credit may be stated as a percentage of the incremental income tax and training costs attributable to the applicant's project and may include a fixed dollar limitation.

c) For the credit term, a project that qualified under paragraph (1), (2), or (4) of subsection (c) of Section 110-20 of the Act, the duration of the credit may not exceed 15 taxable years, unless the agreement is renewed.

d) For project that qualified under paragraph (3) of subsection (c) of Section 110-20 of the Act, the duration of the credit may not exceed 10 taxable years, unless the agreement is renewed. [35 ILCS 45/110-40]

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