Section 521.80  Determination of Term of Exemptions and Amount of Credit

a)         The Department will determine the duration of the term of exemptions and the amount of credit awarded under the Statute. The duration of the exemptions for any certified data center may not exceed 20 years.

b)         All certified data centers, and, when applicable, data center tenants, shall receive an initial 5 year certificate of exemption. At the expiration of this initial 5 year period, certified data centers, and, when applicable, data center tenants, may apply to the Department for renewals of certificates of exemption for additional 5 year periods not to exceed the 20 year period running from the effective date of the MOU.

c)         The amount of the credit for any certified data center determined by the Department to be located in an underserved area shall be 20% of the wages paid during the taxable year to a full-time or part-time employee of a construction contractor employed by a certified data center, if those wages are paid for the construction of a new data center. [35 ILCS 5/229(a)]

d)         In no event shall a credit under the Statute reduce the taxpayer's liability to less than zero. If the amount of the credit exceeds the tax liability for the year, the excess may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. [35 ILCS 5/229(b)]