Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE14. COMMERCE |
PART520. ENTERPRISE ZONE AND HIGH IMPACT BUSINESS PROGRAMS |
SUBPARTL. JOBS TAX CREDIT |
§520.1220. Eligibility
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a) Enterprise Zones
A business entity in a certified Enterprise Zone shall be eligible for a jobs tax credit providing the entity has made a minimum eligible capital investment of $10,000,000 in an Enterprise Zone construction jobs project. The Enterprise Zone construction jobs credit project must be undertaken by the business entity in the course of completing a project that complies with the criteria contained in Section 4 of the Illinois Enterprise Zone Act and is undertaken in a certified Enterprise Zone.
b) High Impact Business
A business entity that has been certified as a High Impact Business and is engaged and executing a High Impact Business construction jobs project is eligible to receive a High Impact Business jobs credit for employees employed in the completion of that construction project.
(Source: Added at 46 Ill. Reg. 1817, effective January 11, 2022)