# 14 Ill. Adm. Code 5280.528.85: Section 528.85 Transfer of Tax Credit

> Illinois · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_85

## Section

- **Citation:** 14 Ill. Adm. Code 5280.528.85
- **Heading:** Section 528.85 Transfer of Tax Credit
- **Jurisdiction:** Illinois
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Administrative Code / Title 14  /  / Part 5280  / Section 528.85 Transfer of Tax Credit

## Text

TITLE 14: COMMERCE
CHAPTER I: DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY
PART 528 ILLINOIS FILM PRODUCTION SERVICES TAX CREDIT PROGRAM
SECTION 528.85 TRANSFER OF TAX CREDIT
Section 528.85  Transfer of Tax Credit
a)
A
transfer of the credit may be made by the applicant earning the credit within
one year after the credit is awarded in accordance with rules adopted by the
Department of Commerce and Economic Opportunity.
b)         For
purposes of this provision, a tax credit is earned on the date that the tax credit
certificate is issued under Section 528.70.
c)         Tax credits
earned by an applicant in a taxable year ending prior to July 11, 2005 may not
be transferred.
d)         For
purposes of this Section, a tax credit earned by a partnership or subchapter S
corporation shall be treated as having been earned by its partners in the
amounts determined under 86 Ill. Adm. Code 100.2185(c).
e)         Transfer
of a tax credit shall be made as follows:
1)         The applicant
earning the credit shall request the transfer from the Department, in writing,
identifying the transferees (name, tax identification number, mailing address)
and the amount to be transferred to each transferee, and the applicant shall
return the tax credit certificate to the Department, together with its transfer
request.  The applicant is allowed to transfer or allocate a single credit to
no more than 10 transferees.
2)         A
request for transfer may be submitted with the applicant's request for the tax credit
certificate under Section 528.70.  The Department may issue the requested
certificates of transfer in lieu of the tax credit certificate.
3)         If
the transfer request is made within one year of issuance and meets the
requirements of this Section, the Department shall issue a certificate of transfer
to each transferee, identifying the original tax credit certificate and stating
the amount of the credit transferred
28.70.  The Department may issue the requested
certificates of transfer in lieu of the tax credit certificate.
3)         If
the transfer request is made within one year of issuance and meets the
requirements of this Section, the Department shall issue a certificate of transfer
to each transferee, identifying the original tax credit certificate and stating
the amount of the credit transferred.
4)         If
the applicant earning the credit transfers less than the full amount of the credit,
the Department shall issue a certificate of transfer to the applicant
identifying the original tax credit certificate and stating the amount of tax credit
retained by the applicant.
5)         If
the person transferring the credit is a partner or shareholder in a partnership
or subchapter S corporation that earned the credit, that person shall submit to
the Department, either the original tax credit certificate or copies of the tax
credit certificates and copies of the Schedule K-1-P received by that person
from the partnership or subchapter S corporation stating that person's share of
the credit.

## Nearby sections

- [14 Ill. Adm. Code 5280.528.20 Section 528.20  Definitions](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_20.md)
- [14 Ill. Adm. Code 5280.528.40 Section 528.40  Application Process and Requirements](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_40.md)
- [14 Ill. Adm. Code 5280.528.70 Section 528.70  Request for Tax Credit Certificate](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_70.md)
- [14 Ill. Adm. Code 5280.528.71 Section 528.71  Approval/Denial of Tax Credit Certificate Request](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_71.md)
- [14 Ill. Adm. Code 5280.528.85 Section 528.85  Transfer of Tax Credit](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_85.md)
- [14 Ill. Adm. Code 5280.528.86 Section 528.86  Illinois Production Workforce Development Fund](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_86.md)
- [14 Ill. Adm. Code 5280.528.130 Section 528.130  Dispute Process](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_130.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T14_P5280_S528_85. Check the current official text before relying on it. Not legal advice.