Illinois Legislative News: May 4, 2026
Third Reading Consulting Group
Illinois Quantum and Microelectronics Park Expansion
Gov. JB Pritzker has made accelerating quantum technology development one of his key economic development priorities over the last few years, with the Illinois General Assembly passing quantum-related incentives as part of Public Act 103-595, the FY 2025 Department of Commerce and Economic Opportunity (DCEO) Omnibus. The state allocated $500M over five years through the Quantum Enterprise Zone tax incentive for infrastructure and research and development facilities at a future quantum computing campus.
Following the passage of incentive legislation, the Illinois Quantum and Microelectronics Park (IQMP) began construction in September 2025 at the long-abandoned former U.S. Steel South Works campus on the Southeast Side of Chicago. The state also provided another $200M in tax incentives to California-based PsiQuantum, to become IQMP’s anchor tenant with a $1.1B investment in the site to construct the country’s first fault-tolerant utility-scale quantum computer. To align with Illinois’ Manufacturing Illinois Chips for Real Opportunity (MICRO) Program for high-tech manufacturing, Cook County created a new Class 8 MICRO property tax incentive, building on its Class 8 incentive for commercial and industrial projects in areas experiencing severe economic depression but specifically for MICRO-eligible projects. The incentive reduces property tax assessment rates from the standard 25% level to 10% for 30 years, and will apply to MICRO-eligible projects in Cook County Class 8 incentive zones.
In addition to PsiQuantum, IBM, Diraq, Infleqtion, DARPA’s Quantum Proving Ground, and the National Quantum Algorithm Center all plan to be core tenants at the IQMP. IQMP also plans to partner with various corporations and universities, including but not limited to: Duality, P33, Chicago Quantum Exchange, University of Illinois, Northwestern University, University of Chicago, and Chicago State University. The partnering entities will work to facilitate the development and commercialization of quantum technologies.
In a significant recent development, IBM announced that they will open a FutureNow delivery center at the IQMP on Wednesday, April 29. IBM committed to creating 750 new full-time technology jobs through a development incentivized by $19M in Economic Development for a Growing Economy (EDGE) tax credits over 10 years. The project will see IBM take part in a new apprenticeship program through City Colleges of Chicago, providing opportunities for 500 students to gain hands-on experience at the innovation center over a five-year period. IBM has pledged to hire at least 180 graduates of the apprenticeship program to help reach its state employment commitments.
Opposite Chamber Committee Deadline
Friday, May 8 is the Opposite Chamber Committee Deadline in both the House and Senate. Look out for a busy week of committee action ahead of the deadline.
Important Upcoming Dates – Statewide
May 8 – Opposite Chamber Committee Deadline
May 22 – Opposite Chamber Third Reading Deadline
May 31 – Adjournment
November 3 – Illinois General Election