The Department shall limit the monetary amount of credits awarded under this Act to no more than $50,000,000. If applications for a greater amount are received, credits shall be allowed on a first-come-first-served basis, based on the date on which each properly completed application for a certificate of eligibility is received by the Department. If more than one certificate of eligibility is received on the same day, the credits will be awarded based on the time of submission for that particular day.
35 ILCS 25/30
Maximum amount of credits allowed
Known as the Small Business Job Creation Tax Credit Act
The act spans §§ 35-25-1 to 35-25-999 (13 sections).
P.A. 96-888, eff. 4-13-10.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.