Bill Status of SB3420 101st General Assembly
Short Description: REVENUE-GREEN ENERGY
Sen. Melinda Bush
| 1/13/2021||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Illinois Energy Transition Zone Act. Provides for the certification by the Department of Commerce and Economic Opportunity of municipal ordinances designating an area as an Energy Transition Zone. Provides that green energy enterprises located in Energy Transition Zones shall be eligible to apply for certain tax incentives. Provides that a green energy enterprise is a company that is engaged in the production of solar energy, wind energy, water energy, geothermal energy, bioenergy, or hydrogen fuel and cells. Contains provisions concerning qualifications and applications. Creates the Energy Transition Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall make income tax credit awards under the Act to foster job creation and the development of green energy in Energy Transition Zones. Amends the Illinois Income Tax Act, the Retailers' Occupation Tax Act, and the Public Utilities Act to make conforming changes concerning tax incentives. Effective immediately.
|Date||Chamber|| Action|| 2/14/2020||Senate||Filed with Secretary by Sen. Melinda Bush|| 2/14/2020||Senate||First Reading|| 2/14/2020||Senate||Referred to Assignments|| 1/13/2021||Senate||Session Sine Die|