Illinois General Assembly - Bill Status for SB 2252

Creates the Green Energy Business Act. Authorizes the Department of Commerce and Economic Opportunity to receive and approve the applications of qualified businesses seeking designation as Green Energy Businesses. Amends the Illinois Income Tax Act, the Retailers' Occupation Tax Act, and the Public Utilities Act to provide that Green Energy Businesses are eligible for certain credits and exemptions under those Acts. Effective immediately.

Deletes everything after the enacting clause. Amends the Property Tax Code. In a Section concerning exemptions for charitable purposes, provides that property that qualifies for an exemption under the Section shall not lose the exemption because the legal title is held by an entity that is organized as a limited liability company, in which the charitable organization is a managing member, for the purposes of owning and operating residential rental property that has received Low Income Housing Tax Credits under the Internal Revenue Code.

Deletes everything after the enacting clause. Reinserts the provisions of House Amendment 1. Further amends a Section of the Property Tax Code concerning exemptions for charitable purposes. Provides that property that is entitled to an exemption under the Section shall not lose the exemption because the legal title is held by a limited liability company, so long as (i) the limited liability company's sole member or members are the institutions of public charity that actually and exclusively use the property for charitable and beneficent purposes; (ii) the limited liability company is deemed exempt from income tax liability by virtue of the Internal Revenue Code Section 501(c)(3) status of its sole member or members; and (iii) the limited liability company does not lease the property or otherwise use it with a view to profit (now, the property shall not lose the exemption if (i) the limited liability company receives a notification from the Internal Revenue Service that it qualifies under paragraph (2) or (3) of Section 501(c) of the Internal Revenue Code; (ii) the limited liability company's sole member or members are the institutions of public charity that actually and exclusively use the property for charitable and beneficent purposes; and (iii) the limited liability company does not lease the property or otherwise use it with a view to profit). Effective immediately.

Deletes everything after the enacting clause. Amends the Illinois Income Tax Act. For taxable years beginning on or after July 1, 2009 and ending prior to July 1, 2011, increases the rate of tax to (i) 4.5% for individuals, trusts, and estates and (ii) 7.2% for corporations. Provides that, for taxable years beginning after June 30, 2011, the tax rate shall be restored to (i) 3% for individuals, trusts, and estates and (ii) 4.8% for corporations. Makes adjustments concerning installment payments of an estimated tax. Makes changes to certain addition modifications and deductions concerning discharge of indebtedness and net operating losses. Increases the earned income credit from 5% of the federal credit to 7.5% for taxable years ending on or after December 31, 2009, and prior to December 31, 2010, and to 10% for taxable years ending on or after December 31, 2010. Effective immediately.

Date	Chamber	Action
5/31/2009	House	Third Reading - Short Debate - Lost 042-074-002

Date	Chamber	Action
2/20/2009	Senate	Filed with Secretary by Sen. John M. Sullivan
2/20/2009	Senate	First Reading
2/20/2009	Senate	Referred to Assignments
3/4/2009	Senate	Assigned to Environment
3/11/2009	Senate	Added as Chief Co-Sponsor Sen. Dale E. Risinger
3/12/2009	Senate	Do Pass Environment; 008-000-000
3/12/2009	Senate	Placed on Calendar Order of 2nd Reading March 17, 2009
3/17/2009	Senate	Added as Co-Sponsor Sen. Bill Brady
3/24/2009	Senate	Second Reading
3/24/2009	Senate	Placed on Calendar Order of 3rd Reading March 25, 2009
4/1/2009	Senate	Added as Chief Co-Sponsor Sen. Pamela J. Althoff
4/1/2009	Senate	Placed on Calendar Order of 3rd Reading ** April 2, 2009
4/1/2009	Senate	Added as Co-Sponsor Sen. Martin A. Sandoval
4/2/2009	Senate	Added as Co-Sponsor Sen. Ira I. Silverstein
4/2/2009	Senate	Added as Chief Co-Sponsor Sen. Heather Steans
4/2/2009	Senate	Added as Co-Sponsor Sen. A. J. Wilhelmi
4/2/2009	Senate	Added as Co-Sponsor Sen. Dave Syverson
4/2/2009	Senate	Third Reading - Passed; 059-000-000
4/3/2009	House	Arrived in House
4/3/2009	House	Placed on Calendar Order of First Reading
4/3/2009	House	Chief House Sponsor Rep. Frank J. Mautino
4/3/2009	House	Added Alternate Chief Co-Sponsor Rep. Robert W. Pritchard
4/6/2009	House	First Reading
4/6/2009	House	Referred to Rules Committee
4/20/2009	House	Assigned to Revenue & Finance Committee
5/8/2009	House	Rule 19(a) / Re-referred to Rules Committee
5/13/2009	House	Assigned to Revenue & Finance Committee
5/19/2009	House	House Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee
5/19/2009	House	House Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
5/19/2009	House	Do Pass as Amended / Short Debate Revenue & Finance Committee; 007-000-000
5/19/2009	House	Placed on Calendar 2nd Reading - Short Debate
5/19/2009	House	Alternate Chief Sponsor Changed to Rep. Barbara Flynn Currie
5/19/2009	House	Second Reading - Short Debate
5/19/2009	House	Held on Calendar Order of Second Reading - Short Debate
5/21/2009	House	House Floor Amendment No. 2 Filed with Clerk by Rep. Barbara Flynn Currie
5/21/2009	House	House Floor Amendment No. 2 Referred to Rules Committee
5/22/2009	House	Final Action Deadline Extended-9(b) May 29, 2009
5/26/2009	House	House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
5/29/2009	Senate	Sponsor Removed Sen. Bill Brady
5/29/2009	House	House Floor Amendment No. 3 Filed with Clerk by Rep. Barbara Flynn Currie
5/29/2009	House	House Floor Amendment No. 3 Referred to Rules Committee
5/29/2009	House	House Floor Amendment No. 3 Rules Refers to Revenue & Finance Committee
5/29/2009	House	Alternate Chief Co-Sponsor Removed Rep. Robert W. Pritchard
5/29/2009	House	House Floor Amendment No. 4 Filed with Clerk by Rep. Barbara Flynn Currie
5/29/2009	House	House Floor Amendment No. 4 Referred to Rules Committee
5/29/2009	House	House Floor Amendment No. 4 Rules Refers to Revenue & Finance Committee
5/29/2009	Senate	Sponsor Removed Sen. Dale E. Risinger
5/29/2009	Senate	Sponsor Removed Sen. Pamela J. Althoff
5/29/2009	Senate	Sponsor Removed Sen. Dave Syverson
5/29/2009	House	Final Action Deadline Extended-9(b) May 31, 2009
5/30/2009	House	House Floor Amendment No. 4 Recommends Be Adopted Revenue & Finance Committee; 008-004-000
5/31/2009	House	House Floor Amendment No. 2 Adopted by Voice Vote
5/31/2009	House	House Floor Amendment No. 4 Adopted by Voice Vote
5/31/2009	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/31/2009	House	Third Reading - Short Debate - Lost 042-074-002
5/31/2009	House	House Floor Amendment No. 3 Tabled Pursuant to Rule 40(a)

	Deletes reference to:
	New Act

	Adds reference to:
	35 ILCS 200/15-65

	Deletes reference to:
	35 ILCS 200/16-35

	Adds reference to:
	35 ILCS 5/201	from Ch. 120, par. 2-201