97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1468

 

Introduced , by Rep. Jack D. Franks

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 640/2-5.5 new

    Amends the Electricity Excise Tax Law. Creates an alternative energy credit for taxpayers who construct facilities that generate electricity using alternative energy sources (including solar, wind, geothermal, landfill methane gas, fuel cells, and biomass). Provides that the credit shall be 0.18 cents per kilowatt hour generated by the alternative energy system. Provides that the credit shall sunset on January 1, 2019. Effective July 1, 2011.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1468LRB097 06338 HLH 46418 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Electricity Excise Tax Law is amended by
5adding Section 2-5.5 as follows:
 
6    (35 ILCS 640/2-5.5 new)
7    Sec. 2-5.5. Credit for residential alternative energy. Any
8person who is subject to taxation under this Act who constructs
9a new residential facility that generates electricity using an
10alternative energy system is entitled to a credit against the
11tax imposed under Section 2-4 of this Act in an amount equal to
120.18 cents per kilowatt hour generated by the alternative
13energy system. No later than the first day of the first month
14of each calendar quarter, a taxpayer who wishes to claim a
15credit under this Section shall certify to the Department the
16total number of kilowatt hours generated by the alternative
17energy system during the previous quarter. Within 30 days after
18receipt of the certification, the Department shall pay the
19amount certified directly to the taxpayer from the proceeds of
20the tax imposed under Section 2-4.
21    For the purposes of this Section, "alternative energy
22system" means a system that produces energy using one or more
23of the following sources: solar, wind, geothermal heat pumps

 

 

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1(both closed and open-looped systems) and combined heat and
2power systems, landfill methane gas, fuel cells, and biomass.
3    The credit under this Section shall sunset on January 1,
42019.
 
5    Section 99. Effective date. This Act takes effect July 1,
62011.