Records: Illinois Film Tax CreditsTotal $204 Million So Far
Records show the state of Illinois has granted $204 million in tax breaks to more than 930 movies, TV shows and commercials filmed in the state from July 2008 to December 2014.
The Chicago Sun-Times reports that according to the Illinois comptroller's office about $117 million of those tax breaks have been claimed so far. The state allows five years to claim the credits on tax returns. The tax breaks come at a time when Illinois faces an approximate $6 billion deficit in the upcoming budget year.
Records also show the Illinois Film Office has yet to approve hundreds of applications for tax credits because producers have two years to submit paperwork.
The Illinois Film Production Services Tax Credit Program is to expire in 2021 unless lawmakers renew it.