Section 520.800 General

The Investment Tax Credit found in the Illinois Income Tax Act [35 ILCS 5/201(f) and (h)] provides for a 0.5% credit against the State income tax for investments made in qualified property that are placed in service in an Enterprise Zone [35 ILCS 5/201(f)] or by a High Impact Business [35 ILCS 5/201(h)].  The credit shall be 0.5% of the basis for such property.  The specific terms and conditions governing this tax credit are found in the Illinois Department of Revenue's regulations (86 Ill. Adm. Code 100.2110 and 86 Ill. Adm. Code 100.2130).

(Source:  Old Section repealed at 15 Ill. Reg. 8683, effective May 30, 1991; new Section adopted at 27 Ill. Reg. 3282, effective February 14, 2003)