Bill > SB3796

This bill modifies several Illinois tax laws, primarily by ending certain tax credits and making adjustments to business deductions. Specifically, it repeals credits related to "High Impact Businesses" (companies making significant investments and creating jobs) and "Enterprise Zone construction jobs" (credits for construction work in designated enterprise zones) starting from the effective date of this legislation. It also introduces an "addition modification" to the Illinois Income Tax Act, meaning businesses will have to add back to their state taxable income any deduction they took for domestic research or experimental expenditures on their federal tax return, starting with taxable years in 2026. Additionally, the bill makes changes to incentives for biodiesel, renewable diesel, and biodiesel blends, affecting how these fuels are taxed under the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act.

https://www.ilga.gov/Legislation/BillStatus?DocNum=3796&GAID=18&DocTypeID=SB&SessionID=114&GA=104