Chapter 35 — REVENUE

(35 ILCS 5/202.4) Sec. 202.4. (Repealed). (Source: Repealed by P.A. 88-89.)

(35 ILCS 5/202.5) Sec. 202.5. Net income attributable to the period beginning prior to the first day of a month and ending after the last day of the preceding month. (a) In general. With respect to the taxable year of a taxpayer beginning prior to the first day of a month and end…

(35 ILCS 5/203) (from Ch. 120, par. 2-203) Sec. 203. Base income defined. (a) Individuals. (1) In general. In the case of an individual, base income means an amount equal to the taxpayer's adjusted gross income for the taxable year as modified by paragraph (2). (2) Modifications.…

(35 ILCS 5/204) (from Ch. 120, par. 2-204) Sec. 204. Standard exemption. (a) Allowance of exemption. In computing net income under this Act, there shall be allowed as an exemption the sum of the amounts determined under subsections (b), (c) and (d), multiplied by a fraction the n…

(35 ILCS 5/205) (from Ch. 120, par. 2-205) Sec. 205. Exempt organizations. (a) Charitable, etc. organizations. For tax years beginning before January 1, 2019, the base income of an organization which is exempt from the federal income tax by reason of the Internal Revenue Code sha…

(35 ILCS 5/206) (from Ch. 120, par. 2-206) Sec. 206. Tax credits for coal research and coal utilization equipment. (a) Until January 1, 2005, each corporation subject to this Act shall be entitled to a credit against the tax imposed by subsections (a) and (b) of Section 201 in an…

(35 ILCS 5/207) (from Ch. 120, par. 2-207) Sec. 207. Net Losses. (a) If after applying all of the (i) modifications provided for in paragraph (2) of Section 203(b), paragraph (2) of Section 203(c) and paragraph (2) of Section 203(d) and (ii) the allocation and apportionment provi…

(35 ILCS 5/208) (from Ch. 120, par. 2-208) Sec. 208. Tax credit for residential real property taxes. Beginning with tax years ending on or after December 31, 1991, every individual taxpayer shall be entitled to a tax credit equal to 5% of real property taxes paid by such taxpayer…

(35 ILCS 5/208.1) Sec. 208.1. (Repealed). (Source: P.A. 91-703, eff. 5-16-00. Repealed by P.A. 100-621, eff. 7-20-18.)

(35 ILCS 5/208.5) Sec. 208.5. (Repealed). (Source: P.A. 102-700, eff. 4-19-22. Repealed internally, eff. 1-1-24.)

(35 ILCS 5/209) Sec. 209. Tax Credit for "TECH-PREP" youth vocational programs. (a) Beginning with tax years ending on or after June 30, 1995, every taxpayer who is primarily engaged in manufacturing is allowed a credit against the tax imposed by subsections (a) and (b) of Sectio…

(35 ILCS 5/210) Sec. 210. Dependent care assistance program tax credit. (a) Beginning with tax years ending on or after June 30, 1995, each taxpayer who is primarily engaged in manufacturing is entitled to a credit against the tax imposed by subsections (a) and (b) of Section 201…

(35 ILCS 5/210.5) Sec. 210.5. Tax credit for employee child care. (a) Each corporate taxpayer is entitled to a credit against the tax imposed by subsections (a) and (b) of Section 201 in an amount equal to (i) for taxable years ending on or after December 31, 2000 and on or befor…

(35 ILCS 5/211) Sec. 211. Economic Development for a Growing Economy Tax Credit. For tax years beginning on or after January 1, 1999, a Taxpayer who has entered into an Agreement (including a New Construction EDGE Agreement) under the Economic Development for a Growing Economy Ta…

(35 ILCS 5/212) Sec. 212. Earned income tax credit. (a) With respect to the federal earned income tax credit allowed for the taxable year under Section 32 of the federal Internal Revenue Code, 26 U.S.C. 32, each individual taxpayer is entitled to a credit against the tax imposed …

(35 ILCS 5/212.1) Sec. 212.1. (Repealed). (Source: P.A. 103-154, eff. 6-30-23. Repealed internally, eff. 4-19-23.)

(35 ILCS 5/213) Sec. 213. Film production services credit. (a) For tax years beginning on or after January 1, 2004, a taxpayer who has been awarded a tax credit under the Film Production Services Tax Credit Act or under the Film Production Services Tax Credit Act of 2008 is entit…

(35 ILCS 5/214) Sec. 214. Tax credit for affordable housing donations. (a) Beginning with taxable years ending on or after December 31, 2001 and until the taxable year ending on December 31, 2026, a taxpayer who makes a donation under Section 7.28 of the Illinois Housing Developm…

(35 ILCS 5/215) Sec. 215. (Repealed). (Source: P.A. 93-23, eff. 6-20-03. Repealed by P.A. 93-1033, eff. 9-3-04.)

(35 ILCS 5/216) Sec. 216. Credit for wages paid to returning citizens. (a) For each taxable year beginning on or after January 1, 2007, each taxpayer is entitled to a credit against the tax imposed by subsections (a) and (b) of Section 201 of this Act in an amount equal to 5% of …

(35 ILCS 5/217) Sec. 217. Credit for wages paid to qualified veterans. (a) For each taxable year beginning on or after January 1, 2007 and ending on or before December 30, 2010, each taxpayer is entitled to a credit against the tax imposed by subsections (a) and (b) of Section 20…

(35 ILCS 5/217.1) Sec. 217.1. Credit for wages paid to qualified unemployed veterans. (a) For each taxable year ending on or after December 31, 2012 and on or before December 31, 2016, each taxpayer is entitled to a credit against the tax imposed by subsections (a) and (b) of Sec…

(35 ILCS 5/218) Sec. 218. Credit for student-assistance contributions. (a) For taxable years ending on or after December 31, 2009 and on or before December 31, 2029, each taxpayer who, during the taxable year, makes a contribution (i) to a specified individual College Savings Poo…

(35 ILCS 5/219) Sec. 219. Historic preservation credit. For tax years beginning on or after January 1, 2010 and ending on or before December 31, 2015, a taxpayer who qualifies for a credit under the Historic Preservation Tax Credit Pilot Program Act is entitled to a credit agains…

(35 ILCS 5/220) Sec. 220. Angel investment credit. (a) As used in this Section: "Applicant" means a corporation, partnership, limited liability company, or a natural person that makes an investment in a qualified new business venture. The term "applicant" does not include (i) a c…

(35 ILCS 5/221) Sec. 221. Rehabilitation costs; qualified historic properties; River Edge Redevelopment Zone. (a) For taxable years that begin on or after January 1, 2012 and begin prior to January 1, 2018, there shall be allowed a tax credit against the tax imposed by subsection…

(35 ILCS 5/222) Sec. 222. Live theater production credit. (a) For tax years beginning on or after January 1, 2012 and beginning prior to January 1, 2027, a taxpayer who has received a tax credit award under the Live Theater Production Tax Credit Act for a long-run production, a p…

(35 ILCS 5/223) Sec. 223. Hospital credit. (a) For tax years ending on or after December 31, 2012 and ending on or before December 31, 2027, a taxpayer that is the owner of a hospital licensed under the Hospital Licensing Act, but not including an organization that is exempt from…

(35 ILCS 5/224) Sec. 224. Invest in Kids credit. (a) For taxable years beginning on or after January 1, 2018 and ending before January 1, 2024, each taxpayer for whom a tax credit has been awarded by the Department under the Invest in Kids Act is entitled to a credit against the …

(35 ILCS 5/225) Sec. 225. Credit for instructional materials and supplies. For taxable years beginning on and after January 1, 2017, a taxpayer shall be allowed a credit in the amount paid by the taxpayer during the taxable year for instructional materials and supplies with respe…

(35 ILCS 5/226) Sec. 226. Natural disaster credit. (a) For taxable years that begin on or after January 1, 2017 and begin prior to January 1, 2019, each taxpayer who owns qualified real property located in a county in Illinois that was declared a State disaster area by the Govern…

(35 ILCS 5/227) Sec. 227. Adoption credit. (a) Beginning with tax years ending on or after December 31, 2018 and ending with tax years ending on or before December 31, 2029, in the case of an individual taxpayer there shall be allowed a credit against the tax imposed by subsectio…

(35 ILCS 5/228) Sec. 228. Historic preservation credit. For tax years beginning on or after January 1, 2019 and ending on or before December 31, 2028, a taxpayer who qualifies for a credit under the Historic Preservation Tax Credit Act is entitled to a credit against the taxes im…

(35 ILCS 5/229) Sec. 229. Data center construction employment tax credit. (a) A taxpayer who has been awarded a credit by the Department of Commerce and Economic Opportunity under Section 605-1025 of the Department of Commerce and Economic Opportunity Law of the Civil Administrat…

(35 ILCS 5/230) Sec. 230. (Repealed). (Source: P.A. 102-558, Section 220, eff. 8-20-21. Repealed by P.A. 102-558, Section 880, eff. 8-20-21)

(35 ILCS 5/231) Sec. 231. Apprenticeship education expense credit. (a) As used in this Section: "Accredited training organization" means an organization that: (1) incurs costs related to training apprentice employees; (2) maintains an apprenticeship program approved by the United…

(35 ILCS 5/232) Sec. 232. Tax credit for agritourism liability insurance. (a) For taxable years beginning on or after January 1, 2022 and ending on or before December 31, 2023, any individual or entity that operates an agritourism operation in the State during the taxable year sh…

(35 ILCS 5/233) Sec. 233. Recovery and Mental Health Tax Credit Act. For taxable years beginning on or after January 1, 2023, a taxpayer who has been awarded a credit under the Recovery and Mental Health Tax Credit Act is entitled to a credit against the tax imposed by subsection…

(35 ILCS 5/234) Sec. 234. Volunteer emergency workers. (a) For taxable years beginning on or after January 1, 2023 and beginning prior to January 1, 2028, each individual who (i) serves as a volunteer emergency worker for at least 9 months during the taxable year and (ii) does no…

(35 ILCS 5/236) Sec. 236. Reimagining Energy and Vehicles in Illinois Tax credits. (a) For tax years beginning on or after January 1, 2025, a taxpayer who has entered into an agreement under the Reimagining Energy and Vehicles in Illinois Act is entitled to a credit against the t…

(35 ILCS 5/237) Sec. 237. REV Illinois Investment Tax credits. (a) For tax years beginning on or after November 16, 2021 (the effective date of Public Act 102-669), a taxpayer shall be allowed a credit against the tax imposed by subsections (a) and (b) of Section 201 for investme…

(35 ILCS 5/238) Sec. 238. MICRO credits. (a) For tax years beginning on or after January 1, 2025, a taxpayer who has entered into an agreement under the Manufacturing Illinois Chips for Real Opportunity (MICRO) Act is entitled to a credit against the taxes imposed under subsectio…

(35 ILCS 5/239) Sec. 239. MICRO Investment Tax credits. (a) For tax years beginning on or after January 1, 2025, a taxpayer shall be allowed a credit against the tax imposed by subsections (a) and (b) of Section 201 for investment in qualified property which is placed in service …

(35 ILCS 5/240) Sec. 240. Hydrogen fuel replacement tax credits. (a) For tax years ending on or after December 31, 2027 and beginning before January 1, 2029, an eligible taxpayer who qualifies for a credit under the Hydrogen Fuel Replacement Tax Credit Act is entitled to a credit…

(35 ILCS 5/241) Sec. 241. Credit for quantum computing campuses. (a) A taxpayer who has been awarded a credit by the Department of Commerce and Economic Opportunity under Section 605-1115 of the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code …

(35 ILCS 5/242) Sec. 242. Music and Musicians Tax Credits and Jobs Act. Taxpayers who have been awarded a credit under the Music and Musicians Tax Credits and Jobs Act are entitled to a credit against the taxes imposed by subsections (a) and (b) of Section 201 of this Act in an a…

(35 ILCS 5/243) Sec. 243. The Illinois Gives tax credit. (a) For taxable years ending on or after December 31, 2025 and ending before January 1, 2030, each taxpayer for whom a tax credit has been authorized by the Department of Revenue under the Illinois Gives Tax Credit Act is e…

(35 ILCS 5/244) Sec. 244. Child tax credit. (a) For the taxable years beginning on or after January 1, 2024, each individual taxpayer who has at least one qualifying child who is younger than 12 years of age as of the last day of the taxable year is entitled to a credit against t…

(35 ILCS 5/245) Sec. 245. (Repealed). (Source: P.A. 90-553, eff. 6-1-98. Repealed by P.A. 99-933, eff. 1-27-17.)

(35 ILCS 5/250) Sec. 250. Sunset of exemptions, credits, and deductions. (a) The application of every exemption, credit, and deduction against tax imposed by this Act that becomes law after the effective date of this amendatory Act of 1994 shall be limited by a reasonable and app…