Illinois Compiled Statutes 20 Executive Branch: Article -

• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 1
  Short title. This Act may be cited as the New Markets Development Program Act. (Source: P.A. 95-1024, eff. 12-31-08.)
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 5
  Definitions. As used in this Act: "Applicable percentage" means 0% for each of the first 2 credit allowance dates, 7% for the third credit allowance...
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 10
  Credit established. A person or entity that makes a qualified equity investment earns a vested right to tax credits as follows: (1) on each credit...
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 15
  Transferability. No tax credit claimed under this Act shall be refundable or saleable on the open market. Tax credits earned by a partnership, limited liability...
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 20
  Annual cap on credits. The Department shall limit the monetary amount of qualified equity investments permitted under this Act to a level necessary to limit...
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 25
  Certification of qualified equity investments. (a) A qualified community development entity that seeks to have an equity investment or long-term debt security designated as a...
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 40
  Recapture. The Department of Revenue shall recapture, from the taxpayer that claimed the credit on a return, the tax credit allowed under this Act if:...
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 45
  Examination and Rulemaking. (a) The Department may conduct examinations to verify that the tax credits under this Act have been received and applied according to...
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 50
  Sunset. For fiscal years following fiscal year 2017, qualified equity investments shall not be made under this Act unless reauthorization is made pursuant to this...
• Illinois Executive Branch: Article -
  Amendatory provisions; text omitted
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 75
  (Amendatory provisions; text omitted). (Source: P.A. 95-1024, eff. 12-31-08; text omitted.)
• Illinois New Markets Development Program Act. - 20 ILCS 663, Section 99
  Effective date. This Act takes effect upon becoming law. (Source: P.A. 95-1024, eff. 12-31-08.)

Last modified: February 18, 2015