Sec. 5-3.4. Recomputation of employment incentive tax credit on property disposed of or property that ceases to qualify

(a) If property that qualifies for the employment incentive tax credit is disposed of or ceases to be in qualified use prior to the end of its useful life, the difference between the credit taken and the credit allowed must be added back to the tax otherwise due in the year of disposition or disqualification.

(b) The amount of employment incentive tax credit to be added back is computed in the following manner:

(1) 50 percent of the amount as determined pursuant to paragraph (3) of subdivision (b) of section 5-2.8 of this Part;

(2) multiply the amount computed in paragraph (1) of this subdivision by the number of years the credit was allowable; and

(3) add the amount computed in paragraph (2) of this subdivision to the tax due for the year the property was disposed of or ceases to be in qualified use.