Illinois General Assembly - Full Text of HB1769
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Full Text of HB1769  102nd General Assembly


Sen. Steve Stadelman

Filed: 10/28/2021





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2    AMENDMENT NO. ______. Amend House Bill 1769, AS AMENDED,
3with reference to page and line numbers of Senate Amendment
4No. 1, on page 4, line 14, by deleting "electric motorcycles
5or"; and
6on page 4, line 22, by replacing "focused" with "primarily
7focused"; and
8on page 20, line 9, by replacing "sound and" with "sound,"; and
9on page 20, line 11, by replacing "employment and" with
10"employment, and will"; and
11on page 21, line 17, after "Illinois" by inserting ", the Clean
12Jobs Workforce Network Program,"; and
13on page 21, line 20, after "Training.", by inserting "An



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1applicant is also eligible for a training credit that shall
2not exceed 10% of the training costs of retained employees for
3the purpose of upskilling to meet the operational needs of the
4applicant or the REV Illinois Project."; and
5on page 22, line 12, by deleting "in any taxable year"; and
6on page 23, lines 14 and 15, by deleting "in any taxable year";
8on page 23, line 22, by replacing "approved by the Department
9of Labor" with "that conforms with the Project Labor
10Agreements Act"; and
11by deleting line 17 on page 24 though line 3 on page 25; and
12on page 30, immediately below line 7, by inserting the
14        "(20) Each taxpayer under paragraph (1) of subsection
15    (c) of Section 20 above shall maintain labor neutrality
16    toward any union organizing campaign for any employees of
17    the taxpayer assigned to work on the premises of the REV
18    Illinois Project Site. This paragraph shall not apply to
19    an electric vehicle manufacturer, electric vehicle
20    component part manufacturer, electric vehicle power supply
21    manufacturer or any joint venture including an electric



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1    vehicle manufacturer, electric vehicle component part
2    manufacturer, and electric vehicle power supply
3    manufacturer, who is subject to collective bargaining
4    agreement entered into prior to the taxpayer filing an
5    application pursuant to this Act."; and
6on page 30, line 22, after "taxpayer", by inserting "with a
7workforce of 100 or more employees and"; and
8on page 31, by replacing lines 12 through 16 with the
10    "(b) Vendor diversity and annual report. Each taxpayer
11with a workforce of 100 or more full-time employees shall,
12starting on April 15, 2025 and every year thereafter for which
13the taxpayer has an Agreement under this Act, report on the
14diversity of the vendors that it utilizes, for publication on
15the Department's website, and include the following
16information:"; and
17on page 36, line 10, by replacing "misdemeanor." with
18"misdemeanor and may be enforced by the Illinois Department of
19Labor or the Department. The Attorney General shall
20represented the Illinois Department of Labor or the Department
21in the proceeding."; and



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1on page 36, by replacing lines lines 20 through 21 with "The
2contractor or subcontractor shall submit reports to the
3Department of Labor electronically that meet the"; and
4on page 42, lines 22 through 23, by replacing "this Act" with
5"the Illinois Income Tax Act"; and
6on page 44, line 12, by deleting "electric motorcycles or";
8on page 45, line 1, by deleting "at least"; and
9on page 45, line 2, after the period, by inserting "The
10purchasing agency may require additional information from
11bidders or offerors to verify whether an electric vehicle is
12manufactured in Illinois as defined by this Section."; and
13on page 45, line 4, by replacing "Section 704A" with "Sections
14207 and 704A"; and
15on page 45, immediately below line 5, by inserting the
17    "(35 ILCS 5/207)  (from Ch. 120, par. 2-207)
18    Sec. 207. Net Losses.
19    (a) If after applying all of the (i) modifications



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1provided for in paragraph (2) of Section 203(b), paragraph (2)
2of Section 203(c) and paragraph (2) of Section 203(d) and (ii)
3the allocation and apportionment provisions of Article 3 of
4this Act and subsection (c) of this Section, the taxpayer's
5net income results in a loss;
6        (1) for any taxable year ending prior to December 31,
7    1999, such loss shall be allowed as a carryover or
8    carryback deduction in the manner allowed under Section
9    172 of the Internal Revenue Code;
10        (2) for any taxable year ending on or after December
11    31, 1999 and prior to December 31, 2003, such loss shall be
12    allowed as a carryback to each of the 2 taxable years
13    preceding the taxable year of such loss and shall be a net
14    operating loss carryover to each of the 20 taxable years
15    following the taxable year of such loss; and
16        (3) for any taxable year ending on or after December
17    31, 2003 and prior to December 31, 2021, such loss shall be
18    allowed as a net operating loss carryover to each of the 12
19    taxable years following the taxable year of such loss,
20    except as provided in subsection (d); and .
21        (4) for any taxable year ending on or after December
22    31, 2021, and for any net loss incurred in a taxable year
23    prior to a taxable year ending on or after December 31,
24    2021 for which the statute of limitation for utilization
25    of such net loss has not expired, such loss shall be
26    allowed as a net operating loss carryover to each of the 20



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1    taxable years following the taxable year of such loss,
2    except as provided in subsection (d).
3    (a-5) Election to relinquish carryback and order of
4application of losses.
5            (A) For losses incurred in tax years ending prior
6        to December 31, 2003, the taxpayer may elect to
7        relinquish the entire carryback period with respect to
8        such loss. Such election shall be made in the form and
9        manner prescribed by the Department and shall be made
10        by the due date (including extensions of time) for
11        filing the taxpayer's return for the taxable year in
12        which such loss is incurred, and such election, once
13        made, shall be irrevocable.
14            (B) The entire amount of such loss shall be
15        carried to the earliest taxable year to which such
16        loss may be carried. The amount of such loss which
17        shall be carried to each of the other taxable years
18        shall be the excess, if any, of the amount of such loss
19        over the sum of the deductions for carryback or
20        carryover of such loss allowable for each of the prior
21        taxable years to which such loss may be carried.
22    (b) Any loss determined under subsection (a) of this
23Section must be carried back or carried forward in the same
24manner for purposes of subsections (a) and (b) of Section 201
25of this Act as for purposes of subsections (c) and (d) of
26Section 201 of this Act.



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1    (c) Notwithstanding any other provision of this Act, for
2each taxable year ending on or after December 31, 2008, for
3purposes of computing the loss for the taxable year under
4subsection (a) of this Section and the deduction taken into
5account for the taxable year for a net operating loss
6carryover under paragraphs (1), (2), and (3) of subsection (a)
7of this Section, the loss and net operating loss carryover
8shall be reduced in an amount equal to the reduction to the net
9operating loss and net operating loss carryover to the taxable
10year, respectively, required under Section 108(b)(2)(A) of the
11Internal Revenue Code, multiplied by a fraction, the numerator
12of which is the amount of discharge of indebtedness income
13that is excluded from gross income for the taxable year (but
14only if the taxable year ends on or after December 31, 2008)
15under Section 108(a) of the Internal Revenue Code and that
16would have been allocated and apportioned to this State under
17Article 3 of this Act but for that exclusion, and the
18denominator of which is the total amount of discharge of
19indebtedness income excluded from gross income under Section
20108(a) of the Internal Revenue Code for the taxable year. The
21reduction required under this subsection (c) shall be made
22after the determination of Illinois net income for the taxable
23year in which the indebtedness is discharged.
24    (d) In the case of a corporation (other than a Subchapter S
25corporation), no carryover deduction shall be allowed under
26this Section for any taxable year ending after December 31,



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12010 and prior to December 31, 2012, and no carryover
2deduction shall exceed $100,000 for any taxable year ending on
3or after December 31, 2012 and prior to December 31, 2014 and
4for any taxable year ending on or after December 31, 2021 and
5prior to December 31, 2024; provided that, for purposes of
6determining the taxable years to which a net loss may be
7carried under subsection (a) of this Section, no taxable year
8for which a deduction is disallowed under this subsection, or
9for which the deduction would exceed $100,000 if not for this
10subsection, shall be counted.
11    (e) In the case of a residual interest holder in a real
12estate mortgage investment conduit subject to Section 860E of
13the Internal Revenue Code, the net loss in subsection (a)
14shall be equal to:
15        (1) the amount computed under subsection (a), without
16    regard to this subsection (e), or if that amount is
17    positive, zero;
18        (2) minus an amount equal to the amount computed under
19    subsection (a), without regard to this subsection (e),
20    minus the amount that would be computed under subsection
21    (a) if the taxpayer's federal taxable income were computed
22    without regard to Section 860E of the Internal Revenue
23    Code and without regard to this subsection (e).
24    The modification in this subsection (e) is exempt from the
25provisions of Section 250.
26(Source: P.A. 102-16, eff. 6-17-21.)"; and



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1on page 45, line 21, by deleting "of this Act"; and
2on page 98, by replacing lines 11 through 13 with the
4    "No debit reduction or charge back of any item on a
5warranty repair order may be made absent a finding of fraud or
6illegal actions by the dealer."; and
7on page 101, by replacing lines 17 through 25 with the
9"vehicle franchiser. The requirements of this subsection (e)
10shall not apply to entire engine assemblies, propulsion engine
11assemblies, including electric vehicle batteries, and entire
12transmission assemblies. In the case of those assemblies, the
13motor vehicle franchiser shall reimburse the motor vehicle
14franchisee up to and including 30% of what the motor vehicle
15franchisee would have paid the motor vehicle franchiser for
16the assembly if the assembly had not been supplied by the
17franchiser other than by the sale of that assembly to the motor
18vehicle franchisee and entire transmission assemblies.".