{"data":{"id":"us-il/35-ilcs-19-50-40","jurisdiction":"us-il","citation":"35 ILCS 19/50-40","heading":"Amount and payment of the tax credit award.","body":"(a) For taxable years beginning on or after January 1, 2025, the Department shall determine the amount of the tax award under this Act. The award may not exceed 10% of the Illinois labor expenditures for the State-certified production if the QMC payroll of the qualified music company for the taxable year does not exceed $150,000 or 15% of the Illinois labor expenditures for the State-certified production if the QMC payroll of the qualified music company for the taxable year exceeds $150,000, plus all of the following:\n(1) an additional 15% of the Illinois labor expenditures for the State-certified production generated by the employment of Illinois residents in geographic areas of high poverty or high unemployment in each tax year, as determined by the Department; and\n(2) an additional 7% of the Illinois labor expenditures for the State-certified production generated by the employment of individuals who are employed at a wage of no less than the general prevailing hourly rate as paid for work of a similar character in the locality in which the work is performed; and\n(3) an additional 7% of the Illinois labor expenditures for the State-certified production incurred by a qualified music company and spent on post-production sound recording for television or film work completed in Illinois.\n(b) To the extent that the base investment by a qualified music company is expended on a sound recording production of a resident copyright, the investor shall be allowed an additional 10% increase in the base investment rate.\n(c) The aggregate amount of credits certified for all investors pursuant to this Section during any calendar year shall not exceed $2,000,000. No more than $200,000 in tax credits may be granted per calendar year for any single qualified music company.\n(d) A business is eligible for participation in the program if the business meets all of the following criteria:\n(1) The business is engaged directly or indirectly in the production, distribution, and promotion of music.\n(2) The business is approved by the Director of Commerce and Economic Opportunity.\n(e) Upon approval of a tax credit award under this Act, the Department shall issue a tax credit certificate to the applicant.","path":["CHAPTER 35 REVENUE","Music and Musicians Tax Credit and Jobs Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=4513\u0026ChapterID=8\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:19Z","sha256":"3a4b5a0b47800825566f18403176ee0b4dcdc0fecbd0ec78b15f8f02357dc3f0","source_id":"us-il","stale":false,"prev":"us-il/35-ilcs-19-50-35","next":"us-il/35-ilcs-19-50-45"},"notice":"GroundRules: Original legal text. Not legal advice."}