Illinois Administrative Code
Title 14 - COMMERCE
Part 580 - REIMAGINING ENERGY AND VEHICLES IN ILLINOIS PROGRAM
Subpart B - TAX CREDITS
Section 580.80 - Determination of Amount and Term of the Credit

Universal Citation: 14 IL Admin Code ยง 580.80

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

a) The Department shall determine the amount and duration of the REV 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 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 20 of the Act, the duration of the credit may not exceed 10 taxable years, unless the agreement is renewed. (Section 40 of the Act)

Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.