[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
| [ Engrossed ] | [ House Amendment 001 ] |
90_HB0009
35 ILCS 5/211 new
Amends the Illinois Income Tax Act. Creates an income
tax credit for companies that manufacture air pollution
control equipment or continuous emission monitoring systems
of 5% of the company's income derived from the manufacture or
production of air pollution control equipment or continuous
emission monitoring systems if the company locates or is
located in a county that has an active, operating coal mine
that is financially distressed or has had an active mine
close within the last 10 years.
LRB9000787DNmb
LRB9000787DNmb
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 211.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 adding Section 211 as follows:
7 (35 ILCS 5/211 new)
8 Sec. 211. Tax credit for companies producing air
9 pollution control equipment. Beginning with taxable years
10 beginning on or after January 1, 1998 and ending with taxable
11 years ending on or before December 30, 2008, every company
12 that (i) manufactures air pollution control equipment such as
13 after burners, carbon absorbers, fabric filters, or scrubbers
14 that are designed to reduce sulfur dioxide or carbon monoxide
15 emissions in accordance with the Clean Air Act of 1990 or
16 (ii) produces continuous emission monitoring systems shall be
17 entitled to a tax credit equal to 5% of the company's income
18 derived from the manufacture or production of air pollution
19 control equipment or continuous emission monitoring systems
20 if the company locates or is currently located in a county
21 that has an active, operating coal mine that is financially
22 distressed or has had an active coal mine close within the
23 last 10 years. The Illinois Environmental Protection Agency,
24 after consulting with the Department of Commerce and
25 Community Affairs, shall define "financially distressed coal
26 mine" by administrative rule.