Illinois HB 2632: PREVAILING WAGE-TAX CREDITS

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB2632

Introduced 2/6/2025, by Rep. Marcus C. Evans, Jr. 

SYNOPSIS AS INTRODUCED:

35 ILCS 5/213

35 ILCS 5/214

35 ILCS 5/222

35 ILCS 5/223

35 ILCS 5/240

820 ILCS 130/2

 Amends the Illinois Income Tax Act and the Prevailing Wage Act. Provides that certain transferable tax credits are considered public works within the meaning of the Prevailing Wage Act. Effective immediately.

LRB104 09586 HLH 19649 b

A BILL FOR

HB2632LRB104 09586 HLH 19649 b

1 AN ACT concerning revenue.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Income Tax Act is amended by 

5changing Sections 213, 214, 222, 223, and 240 as follows:

6 (35 ILCS 5/213)

7 Sec. 213. Film production services credit. 

8 (a) For tax years beginning on or after January 1, 2004, a 

9taxpayer who has been awarded a tax credit under the Film 

10Production Services Tax Credit Act or under the Film 

11Production Services Tax Credit Act of 2008 is entitled to a 

12credit against the taxes imposed under subsections (a) and (b) 

13of Section 201 of this Act in an amount determined by the 

14Department of Commerce and Economic Opportunity under those 

15Acts. If the taxpayer is a partnership or Subchapter S 

16corporation, the credit is allowed to the partners or 

17shareholders in accordance with the determination of income 

18and distributive share of income under Sections 702 and 704 

19and Subchapter S of the Internal Revenue Code. 

20 (b) Beginning July 1, 2024, taxpayers who have been 

21awarded a tax credit under the Film Production Services Tax 

22Credit Act of 2008 shall pay to the