Synopsis As Introduced Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that a qualifying Illinois data center is a place, among other criteria, that within 2 years (rather than 90 days) after being placed in service, certifies that it is carbon neutral or has attained other specified certification. Amends the Brownfields Redevelopment and Intermodal Promotion Act. Extends the use of the South Suburban Brownfields Redevelopment Fund. Amends the New Markets Development Program Act. Modifies provisions concerning certification of qualified equity investments and allocation thereof. Provides further rulemaking requirements. Provides that for fiscal years following fiscal year 2026 (rather than 2021), qualified equity investments under the Act shall not be made unless reauthorization is made. Makes other changes. Effective immediately.
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Extends the use of the South Suburban Brownfields Redevelopment Fund to 2026 (rather than 2031). Removes changes made to the New Markets Development Program Act concerning qualified equity investments and examination and rulemaking requirements. Makes conforming changes. Effective immediately.