Illinois § 605-1070
Full text of Illinois Illinois Compiled Statutes § 605-1070, with citation guidance and answers to common questions.
§ 605-1070.
Rulemaking authority for EDGE Credit; sunset extensions for expiring credits; disaster declaration. The Department shall adopt rules, in consultation with the Department of Revenue, to identify any and all Economic Development for a Growing Economy (EDGE) tax credits that are earned, existing, and unused by a taxpayer in any tax year where there is a statewide COVID-19 public health emergency, as evidenced by an effective disaster declaration of the Governor covering all counties in the State. The rules adopted by the Department shall allow for the extension of credits, for at least 5 years and up to 10 years after the last statewide COVID-19 related disaster declaration has ended, that are earned, existing, or set to expire during a tax year where there is a statewide COVID-19 public health emergency as evidenced by an effective disaster declaration of the Governor covering all counties. In order for a credit to be extended a taxpayer shall provide evidence, in a form prescribed by the Department, that the taxpayer was or will be unable to utilize credits due to the COVID-19 public health emergency. (Source: P.A. 102-16, eff. 6-17-21.)
Frequently Asked Questions About Illinois § 605-1070
What does Illinois Compiled Statutes § 605-1070 cover?
Section 605-1070 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 605-1070?
A common citation format is "Illinois Compiled Statutes § 605-1070" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 605-1070 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.