The Illinois Department of Revenue has approved an income tax credit for qualified real property that was damaged as a result of the flood event in July 2017. The credit is worth up to $750 for property owners in 18 Illinois counties where flood damages were sustained in July.

Qualified properties include a taxpayer’s principle residence or land owned by a small business, but not a rental or leasing business. The allowable income tax credit will be the lesser of $750 or the deduction allowed under the Internal Revenue Code for each taxpayer who owns qualified property in a county declared a state disaster area.
State Representative Allen Skillicorn (R-East Dundee) has been recognized by the Technology and Manufacturing Association (TMA) with a 100 percent score for his support of manufacturing in Illinois. TMA represents nearly 1,000 manufacturers and their more than 30,000 employees that make up Illinois’ critical manufacturing sector.

“I want to thank the Technology and Manufacturing Association for this recognition,” said Skillicorn. “To improve Illinois’ economy and grow jobs, we need to have a strong and thriving manufacturing sector. Between our location, resources and infrastructure network, our state has everything needed to be a manufacturing powerhouse and I will continue to make this a top priority of my work in Springfield.”