Illinois Administrative Code
Title 14 - COMMERCE
Part 527 - ECONOMIC DEVELOPMENT FOR A GROWING ECONOMY PROGRAM (EDGE)
Section 527.70 - Determination of Amount and Term of the Credit
Current through Register Vol. 48, No. 12, March 22, 2024
a) The Department shall determine the amount and duration of the Credit awarded under the Act. The duration of the Credit may not exceed 10 taxable years. [ 35 ILCS 10/5-45 ] In determining the appropriate amount and duration of a Credit to be awarded to a Taxpayer, the Departmentshall take into consideration the following additional factors:
b) The Credit may be stated as a percentage of the Incremental Income Tax attributable to the Applicant's Project and may include a fixed dollar limitation. [ 35 ILCS 10/5-45 ]
c) The Credit shall not exceed the IncrementalIncome Taxattributable to the Project that is the subject of an Agreement. [ 35 ILCS 10/5-15(d) ]
d) The total amount of the Credit allowed during all tax years may not exceed the aggregate amount of costs incurred by the Taxpayer during all prior tax years to the extent provided in the Agreement. [ 35 ILCS 10/5-30 ]
e) Applicants that qualify for increased EDGE benefits under the Business Location Efficiency Incentive Act may receive:
f) Nothing in this Section shall prohibit a Tax Credit Award to an Applicant that uses a Professional Employer Organization if all other award criteria are satisfied.