Back in business? Two pro-jobs tax programs getting back on track
On Nov. 10, as a result of the bipartisan compromises between legislators and the Governor, the Rauner Administration announced it is moving forward on two pro-jobs tax initiatives: Illinois’ EDGE Tax Credits and Film Tax Credits. Both programs had previously been suspended indefinitely as a result of the ongoing budget impasse.
With this change, Illinois’ Department of Commerce and Economic Opportunity will once again be able to make EDGE offers to companies, and Film Tax Credits can be green-lighted to approved projects in Illinois. Offers for new projects, however, will still not be able to be certified or claimed until a Fiscal Year 2016 budget is enacted.