Illinois Administrative Code
Title 14 - COMMERCE
Part 524 - RIVER EDGE REDEVELOPMENT ZONE PROGRAM
Subpart F - TAX INCENTIVES
Section 524.520 - Investment Tax Credit
Universal Citation: 14 IL Admin Code ยง 524.520
Current through Register Vol. 48, No. 12, March 22, 2024
The Investment Tax Credit found in the Illinois Income Tax Act [35 ILCS 5/201(e) and (f) ] provides for a 0.5 % credit against the State income tax for investment made in qualified property that is placed in service in a River Edge Redevelopment Zone [35 ILCS 5/201(e) and (f) ]. The credit shall be 0.5% of the basis for such property. The specific terms and conditions governing this tax credit are found in the Illinois Department of Revenue's regulations (86 Ill. Adm. Code 100.2110 and 100.2130 ).
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