Illinois § 241

§ 241.

Credit for quantum computing campuses. (a) A taxpayer who has been awarded a credit by the Department of Commerce and Economic Opportunity under Section 605-1115 of the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois is entitled to a credit against the taxes imposed under subsections (a) and (b) of Section 201 of this Act. The amount of the credit shall be 20% of the wages paid by the taxpayer during the taxable year to a full-time or part-time employee of a construction contractor employed in the construction of an eligible facility located on a quantum computing campus designated under Section 605-1115 of the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. (b) In no event shall a credit under this Section 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. The tax credit shall be applied to the earliest year for which there is a tax liability. If there are credits for more than one year that are available to offset a liability, the earlier credit shall be applied first. (c) A person claiming the credit allowed under this Section shall attach to its Illinois income tax return for the taxable year for which the credit is allowed a copy of the tax credit certificate issued by the Department of Commerce and Economic Opportunity. (d) Partners and shareholders of Subchapter S corporations are entitled to a credit under this Section as provided in Section 251. (e) As used in this Section, "eligible facility" means a building used primarily to house one or more of the following: a quantum computer operator; a research facility; a data center; a manufacturer and assembler of quantum computers and component parts; a cryogenic or refrigeration facility; or any other facility determined, by industry and academic leaders, to be fundamental to the research and development of quantum computing for practical solutions. (f) This Section is exempt from the provisions of Section 250. (Source: P.A. 103-595, eff. 6-26-24; 104-417, eff. 8-15-25.)