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Illinois Compiled Statutes (Tax)

35 ILCS 17/10-40

Issuance of Tax Credit Award Certificate

Official textilga.gov

Sec. 10-40. Issuance of Tax Credit Award Certificate.

# (a)

In order to qualify for a tax credit award under this Act, an applicant must file an application for each accredited theater production at each of the applicant's qualified production facilities, on forms prescribed by the Department, providing information necessary to calculate the tax credit award and any additional information as reasonably required by the Department.

# (b)

Upon satisfactory review of the application, the Department shall issue a tax credit award certificate stating the amount of the tax credit award to which the applicant is entitled for that tax year and shall contemporaneously notify the applicant and Illinois Department of Revenue in accordance with Section 222 of the Illinois Income Tax Act or, if the applicant is a nonprofit theater production, subsection (k) of Section 704A of the Illinois Income Tax Act, as applicable. (Source: P.A. 103-592, eff. 6-7-24.)

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Nearby sections (25 sections)
  1. 16/90 · Continuation of prior law
  2. 16/95 · (Repealed)
  3. 16/905 · (Amendatory provisions; text omitted)
  4. 16/999 · Effective date
  5. 17/10-1 · Short title
  6. 17/10-5 · Purpose
  7. 17/10-10 · Definitions
  8. 17/10-15 · Powers of the Department
  9. 17/10-20 · Tax credit award
  10. 17/10-25 · Application for certification of accredited theater…
  11. 17/10-30 · Review of application for accredited theater production…
  12. 17/10-35 · Training programs for skills in critical demand
  13. 17/10-40 · Issuance of Tax Credit Award Certificate
  14. 17/10-45 · Amount and payment of the tax credit award
  15. 17/10-50 · Live theater tax credit award program evaluation and reports
  16. 17/10-55 · Program terms and conditions
  17. 17/10-80 · (Amendatory provisions; text omitted)
  18. 20/35-1 · Short title
  19. 20/35-5 · Tax Shelter Voluntary Compliance Program
  20. 20/35-10 · "Tax avoidance transaction" defined
  21. 20/35-15 · Use of evidence of participation in the program
  22. 20/35-90 · (Amendatory provisions; text omitted)
  23. 20/99-99 · Effective date
  24. 25/1 · Short title
  25. 25/5 · Findings and purpose
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