Illinois 2025-2026 Regular Session

Illinois House Bill HB3236 Compare Versions

Only one version of the bill is available at this time.

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1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3236 Introduced , by Rep. Regan Deering SYNOPSIS AS INTRODUCED: 35 ILCS 5/252 new Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year or, if the taxpayer is located in a rural or economically challenged area, 15% of the manufacturing capital expenditures. Provides that the total amount of credits awarded under those provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately. LRB104 06546 HLH 16582 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3236 Introduced , by Rep. Regan Deering SYNOPSIS AS INTRODUCED: 35 ILCS 5/252 new 35 ILCS 5/252 new Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year or, if the taxpayer is located in a rural or economically challenged area, 15% of the manufacturing capital expenditures. Provides that the total amount of credits awarded under those provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately. LRB104 06546 HLH 16582 b LRB104 06546 HLH 16582 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3236 Introduced , by Rep. Regan Deering SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 5/252 new 35 ILCS 5/252 new
4	4	35 ILCS 5/252 new
5	5	Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year or, if the taxpayer is located in a rural or economically challenged area, 15% of the manufacturing capital expenditures. Provides that the total amount of credits awarded under those provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately.
6	6	LRB104 06546 HLH 16582 b LRB104 06546 HLH 16582 b
7	7	LRB104 06546 HLH 16582 b
8	8	A BILL FOR
9	9	HB3236LRB104 06546 HLH 16582 b HB3236 LRB104 06546 HLH 16582 b
10	10	HB3236 LRB104 06546 HLH 16582 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Income Tax Act is amended by
15	15	5 adding Section 252 as follows:
16	16	6 (35 ILCS 5/252 new)
17	17	7 Sec. 252. Manufacturing capital expenditure credit. For
18	18	8 taxable years that begin on or after January 1, 2025 and begin
19	19	9 prior to January 1, 2036, each taxpayer that is engaged in the
20	20	10 business of manufacturing (North American Industry
21	21	11 Classification System code 31-33) is entitled to a credit
22	22	12 against the taxes imposed by subsections (a) and (b) of
23	23	13 Section 201 in an amount equal to 10% of the capital
24	24	14 expenditures incurred by the taxpayer during the taxable year
25	25	15 that are related to manufacturing. The total amount of credits
26	26	16 awarded under this Section may not exceed $10,000,000 for any
27	27	17 particular taxpayer in any taxable year, except that, if the
28	28	18 capital investment is made in a rural or economically
29	29	19 challenged area, as determined by the Department of Commerce
30	30	20 and Economic Opportunity, then the amount of the credit shall
31	31	21 be 15% of the capital expenditure, and the maximum amount of
32	32	22 the credit shall be $20,000,000. A taxpayer may not claim a
33	33	23 credit under this Section if the taxpayer claims a credit
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3236 Introduced , by Rep. Regan Deering SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 5/252 new 35 ILCS 5/252 new
39	39	35 ILCS 5/252 new
40	40	Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year or, if the taxpayer is located in a rural or economically challenged area, 15% of the manufacturing capital expenditures. Provides that the total amount of credits awarded under those provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately.
41	41	LRB104 06546 HLH 16582 b LRB104 06546 HLH 16582 b
42	42	LRB104 06546 HLH 16582 b
43	43	A BILL FOR
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49	49	35 ILCS 5/252 new
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68	68	1 against the taxes imposed by subsections (a) and (b) of
69	69	2 Section 201 for the same capital expenditure under any other
70	70	3 provision of law.
71	71	4 In no event shall a credit under this Section reduce the
72	72	5 taxpayer's liability under this Act to less than zero. The
73	73	6 credit may not be carried forward or back.
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79	79	HB3236 - 2 - LRB104 06546 HLH 16582 b