Illinois General Assembly - Bill Status for SB1178

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for developers that invest in a qualified project redeveloping a brownfield or grayfield. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Creates an exemption for tangible personal property that is purchased by a developer who has been awarded a certificate of exemption by the Department of Commerce and Economic Opportunity and that is used to rehabilitate brownfield or grayfield property. Effective immediately.

Actions

Date	Chamber	Action
1/24/2025	Senate	Filed with Secretary by Sen. Michael W. Halpin
1/24/2025	Senate	First Reading
1/24/2025	Senate	Referred to Assignments
2/4/2025	Senate	Assigned to Revenue
2/26/2025	Senate	Added as Chief Co-Sponsor Sen. Paul Faraci

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