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90_SB0939enr
415 ILCS 5/211 new
415 ILCS 5/212 new
415 ILCS 5/Title XVIII heading new
415 ILCS 5/59.1 new
415 ILCS 5/59.2 new
415 ILCS 5/59.3 new
415 ILCS 5/59.4 new
415 ILCS 5/59.5 new
415 ILCS 5/59.6 new
415 ILCS 5/59.7 new
415 ILCS 5/59.8 new
415 ILCS 5/59.9 new
Amends the Environmental Protection Act. Creates a new
Title of the Act relating to the Brownfields Rehabilitation
and Redevelopment Program. Provides that the Agency and the
Department of Commerce and Community Affairs shall administer
a program that encourages private sector voluntary
remediation of environmentally-distressed and underutilized
sites that demonstrate the potential to contribute to the
economic growth of Illinois if expanded, rehabilitated, or
redeveloped. Provides that the provisions of the Title are
repealed 5 years after the effective date of this amendatory
Act. Amends the Illinois Income Tax Act. Creates the
Brownfields Remediation Tax Credit for qualifying taxpayers
in an amount equal to the lesser of (i) 100% of the
remediation costs expended or (ii) 100% of the projected
present value of new State revenue generated by an approved
project. Creates the Small Business Remediation Tax Credit
for qualified taxpayers in an amount not to exceed $25,000
per project. Provides that a taxpayer may not claim both of
the credits created by this amendatory Act. Sunsets the
credits after 5 years, except that if the taxpayer's
development agreement provides for the Brownfields
Remediation Tax Credit beyond the 5-year period, the taxpayer
may claim the credit through the term provided in the
agreement. Makes other changes. Effective immediately.
LRB9003110KDsb
SB939 Enrolled LRB9003110KDsb
1 AN ACT concerning the environment, amending named Acts.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The State Finance Act is amended by adding
5 Section 5.449 as follows:
6 (30 ILCS 105/5.449 new)
7 Sec. 5.449. The Brownfields Redevelopment Fund.
8 Section 10. The Illinois Income Tax Act is amended by
9 changing Section 201 as follows:
10 (35 ILCS 5/201) (from Ch. 120, par. 2-201)
11 Sec. 201. Tax Imposed.
12 (a) In general. A tax measured by net income is hereby
13 imposed on every individual, corporation, trust and estate
14 for each taxable year ending after July 31, 1969 on the
15 privilege of earning or receiving income in or as a resident
16 of this State. Such tax shall be in addition to all other
17 occupation or privilege taxes imposed by this State or by any
18 municipal corporation or political subdivision thereof.
19 (b) Rates. The tax imposed by subsection (a) of this
20 Section shall be determined as follows:
21 (1) In the case of an individual, trust or estate,
22 for taxable years ending prior to July 1, 1989, an amount
23 equal to 2 1/2% of the taxpayer's net income for the
24 taxable year.
25 (2) In the case of an individual, trust or estate,
26 for taxable years beginning prior to July 1, 1989 and
27 ending after June 30, 1989, an amount equal to the sum of
28 (i) 2 1/2% of the taxpayer's net income for the period
29 prior to July 1, 1989, as calculated under Section 202.3,
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1 and (ii) 3% of the taxpayer's net income for the period
2 after June 30, 1989, as calculated under Section 202.3.
3 (3) In the case of an individual, trust or estate,
4 for taxable years beginning after June 30, 1989, an
5 amount equal to 3% of the taxpayer's net income for the
6 taxable year.
7 (4) (Blank).
8 (5) (Blank).
9 (6) In the case of a corporation, for taxable years
10 ending prior to July 1, 1989, an amount equal to 4% of
11 the taxpayer's net income for the taxable year.
12 (7) In the case of a corporation, for taxable years
13 beginning prior to July 1, 1989 and ending after June 30,
14 1989, an amount equal to the sum of (i) 4% of the
15 taxpayer's net income for the period prior to July 1,
16 1989, as calculated under Section 202.3, and (ii) 4.8% of
17 the taxpayer's net income for the period after June 30,
18 1989, as calculated under Section 202.3.
19 (8) In the case of a corporation, for taxable years
20 beginning after June 30, 1989, an amount equal to 4.8% of
21 the taxpayer's net income for the taxable year.
22 (c) Beginning on July 1, 1979 and thereafter, in
23 addition to such income tax, there is also hereby imposed the
24 Personal Property Tax Replacement Income Tax measured by net
25 income on every corporation (including Subchapter S
26 corporations), partnership and trust, for each taxable year
27 ending after June 30, 1979. Such taxes are imposed on the
28 privilege of earning or receiving income in or as a resident
29 of this State. The Personal Property Tax Replacement Income
30 Tax shall be in addition to the income tax imposed by
31 subsections (a) and (b) of this Section and in addition to
32 all other occupation or privilege taxes imposed by this State
33 or by any municipal corporation or political subdivision
34 thereof.
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1 (d) Additional Personal Property Tax Replacement Income
2 Tax Rates. The personal property tax replacement income tax
3 imposed by this subsection and subsection (c) of this Section
4 in the case of a corporation, other than a Subchapter S
5 corporation, shall be an additional amount equal to 2.85% of
6 such taxpayer's net income for the taxable year, except that
7 beginning on January 1, 1981, and thereafter, the rate of
8 2.85% specified in this subsection shall be reduced to 2.5%,
9 and in the case of a partnership, trust or a Subchapter S
10 corporation shall be an additional amount equal to 1.5% of
11 such taxpayer's net income for the taxable year.
12 (e) Investment credit. A taxpayer shall be allowed a
13 credit against the Personal Property Tax Replacement Income
14 Tax for investment in qualified property.
15 (1) A taxpayer shall be allowed a credit equal to
16 .5% of the basis of qualified property placed in service
17 during the taxable year, provided such property is placed
18 in service on or after July 1, 1984. There shall be
19 allowed an additional credit equal to .5% of the basis of
20 qualified property placed in service during the taxable
21 year, provided such property is placed in service on or
22 after July 1, 1986, and the taxpayer's base employment
23 within Illinois has increased by 1% or more over the
24 preceding year as determined by the taxpayer's employment
25 records filed with the Illinois Department of Employment
26 Security. Taxpayers who are new to Illinois shall be
27 deemed to have met the 1% growth in base employment for
28 the first year in which they file employment records with
29 the Illinois Department of Employment Security. The
30 provisions added to this Section by Public Act 85-1200
31 (and restored by Public Act 87-895) shall be construed as
32 declaratory of existing law and not as a new enactment.
33 If, in any year, the increase in base employment within
34 Illinois over the preceding year is less than 1%, the
SB939 Enrolled -4- LRB9003110KDsb
1 additional credit shall be limited to that percentage
2 times a fraction, the numerator of which is .5% and the
3 denominator of which is 1%, but shall not exceed .5%.
4 The investment credit shall not be allowed to the extent
5 that it would reduce a taxpayer's liability in any tax
6 year below zero, nor may any credit for qualified
7 property be allowed for any year other than the year in
8 which the property was placed in service in Illinois. For
9 tax years ending on or after December 31, 1987, and on or
10 before December 31, 1988, the credit shall be allowed for
11 the tax year in which the property is placed in service,
12 or, if the amount of the credit exceeds the tax liability
13 for that year, whether it exceeds the original liability
14 or the liability as later amended, such excess may be
15 carried forward and applied to the tax liability of the 5
16 taxable years following the excess credit years if the
17 taxpayer (i) makes investments which cause the creation
18 of a minimum of 2,000 full-time equivalent jobs in
19 Illinois, (ii) is located in an enterprise zone
20 established pursuant to the Illinois Enterprise Zone Act
21 and (iii) is certified by the Department of Commerce and
22 Community Affairs as complying with the requirements
23 specified in clause (i) and (ii) by July 1, 1986. The
24 Department of Commerce and Community Affairs shall notify
25 the Department of Revenue of all such certifications
26 immediately. For tax years ending after December 31,
27 1988, the credit shall be allowed for the tax year in
28 which the property is placed in service, or, if the
29 amount of the credit exceeds the tax liability for that
30 year, whether it exceeds the original liability or the
31 liability as later amended, such excess may be carried
32 forward and applied to the tax liability of the 5 taxable
33 years following the excess credit years. The credit shall
34 be applied to the earliest year for which there is a
SB939 Enrolled -5- LRB9003110KDsb
1 liability. If there is credit from more than one tax year
2 that is available to offset a liability, earlier credit
3 shall be applied first.
4 (2) The term "qualified property" means property
5 which:
6 (A) is tangible, whether new or used,
7 including buildings and structural components of
8 buildings and signs that are real property, but not
9 including land or improvements to real property that
10 are not a structural component of a building such as
11 landscaping, sewer lines, local access roads,
12 fencing, parking lots, and other appurtenances;
13 (B) is depreciable pursuant to Section 167 of
14 the Internal Revenue Code, except that "3-year
15 property" as defined in Section 168(c)(2)(A) of that
16 Code is not eligible for the credit provided by this
17 subsection (e);
18 (C) is acquired by purchase as defined in
19 Section 179(d) of the Internal Revenue Code;
20 (D) is used in Illinois by a taxpayer who is
21 primarily engaged in manufacturing, or in mining
22 coal or fluorite, or in retailing; and
23 (E) has not previously been used in Illinois
24 in such a manner and by such a person as would
25 qualify for the credit provided by this subsection
26 (e) or subsection (f).
27 (3) For purposes of this subsection (e),
28 "manufacturing" means the material staging and production
29 of tangible personal property by procedures commonly
30 regarded as manufacturing, processing, fabrication, or
31 assembling which changes some existing material into new
32 shapes, new qualities, or new combinations. For purposes
33 of this subsection (e) the term "mining" shall have the
34 same meaning as the term "mining" in Section 613(c) of
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1 the Internal Revenue Code. For purposes of this
2 subsection (e), the term "retailing" means the sale of
3 tangible personal property or services rendered in
4 conjunction with the sale of tangible consumer goods or
5 commodities.
6 (4) The basis of qualified property shall be the
7 basis used to compute the depreciation deduction for
8 federal income tax purposes.
9 (5) If the basis of the property for federal income
10 tax depreciation purposes is increased after it has been
11 placed in service in Illinois by the taxpayer, the amount
12 of such increase shall be deemed property placed in
13 service on the date of such increase in basis.
14 (6) The term "placed in service" shall have the
15 same meaning as under Section 46 of the Internal Revenue
16 Code.
17 (7) If during any taxable year, any property ceases
18 to be qualified property in the hands of the taxpayer
19 within 48 months after being placed in service, or the
20 situs of any qualified property is moved outside Illinois
21 within 48 months after being placed in service, the
22 Personal Property Tax Replacement Income Tax for such
23 taxable year shall be increased. Such increase shall be
24 determined by (i) recomputing the investment credit which
25 would have been allowed for the year in which credit for
26 such property was originally allowed by eliminating such
27 property from such computation and, (ii) subtracting such
28 recomputed credit from the amount of credit previously
29 allowed. For the purposes of this paragraph (7), a
30 reduction of the basis of qualified property resulting
31 from a redetermination of the purchase price shall be
32 deemed a disposition of qualified property to the extent
33 of such reduction.
34 (8) Unless the investment credit is extended by
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1 law, the basis of qualified property shall not include
2 costs incurred after December 31, 2003, except for costs
3 incurred pursuant to a binding contract entered into on
4 or before December 31, 2003.
5 (f) Investment credit; Enterprise Zone.
6 (1) A taxpayer shall be allowed a credit against
7 the tax imposed by subsections (a) and (b) of this
8 Section for investment in qualified property which is
9 placed in service in an Enterprise Zone created pursuant
10 to the Illinois Enterprise Zone Act. For partners and for
11 shareholders of Subchapter S corporations, there shall be
12 allowed a credit under this subsection (f) to be
13 determined in accordance with the determination of income
14 and distributive share of income under Sections 702 and
15 704 and Subchapter S of the Internal Revenue Code. The
16 credit shall be .5% of the basis for such property. The
17 credit shall be available only in the taxable year in
18 which the property is placed in service in the Enterprise
19 Zone and shall not be allowed to the extent that it would
20 reduce a taxpayer's liability for the tax imposed by
21 subsections (a) and (b) of this Section to below zero.
22 For tax years ending on or after December 31, 1985, the
23 credit shall be allowed for the tax year in which the
24 property is placed in service, or, if the amount of the
25 credit exceeds the tax liability for that year, whether
26 it exceeds the original liability or the liability as
27 later amended, such excess may be carried forward and
28 applied to the tax liability of the 5 taxable years
29 following the excess credit year. The credit shall be
30 applied to the earliest year for which there is a
31 liability. If there is credit from more than one tax year
32 that is available to offset a liability, the credit
33 accruing first in time shall be applied first.
34 (2) The term qualified property means property
SB939 Enrolled -8- LRB9003110KDsb
1 which:
2 (A) is tangible, whether new or used,
3 including buildings and structural components of
4 buildings;
5 (B) is depreciable pursuant to Section 167 of
6 the Internal Revenue Code, except that "3-year
7 property" as defined in Section 168(c)(2)(A) of that
8 Code is not eligible for the credit provided by this
9 subsection (f);
10 (C) is acquired by purchase as defined in
11 Section 179(d) of the Internal Revenue Code;
12 (D) is used in the Enterprise Zone by the
13 taxpayer; and
14 (E) has not been previously used in Illinois
15 in such a manner and by such a person as would
16 qualify for the credit provided by this subsection
17 (f) or subsection (e).
18 (3) The basis of qualified property shall be the
19 basis used to compute the depreciation deduction for
20 federal income tax purposes.
21 (4) If the basis of the property for federal income
22 tax depreciation purposes is increased after it has been
23 placed in service in the Enterprise Zone by the taxpayer,
24 the amount of such increase shall be deemed property
25 placed in service on the date of such increase in basis.
26 (5) The term "placed in service" shall have the
27 same meaning as under Section 46 of the Internal Revenue
28 Code.
29 (6) If during any taxable year, any property ceases
30 to be qualified property in the hands of the taxpayer
31 within 48 months after being placed in service, or the
32 situs of any qualified property is moved outside the
33 Enterprise Zone within 48 months after being placed in
34 service, the tax imposed under subsections (a) and (b) of
SB939 Enrolled -9- LRB9003110KDsb
1 this Section for such taxable year shall be increased.
2 Such increase shall be determined by (i) recomputing the
3 investment credit which would have been allowed for the
4 year in which credit for such property was originally
5 allowed by eliminating such property from such
6 computation, and (ii) subtracting such recomputed credit
7 from the amount of credit previously allowed. For the
8 purposes of this paragraph (6), a reduction of the basis
9 of qualified property resulting from a redetermination of
10 the purchase price shall be deemed a disposition of
11 qualified property to the extent of such reduction.
12 (g) Jobs Tax Credit; Enterprise Zone and Foreign
13 Trade Zone or Sub-Zone.
14 (1) A taxpayer conducting a trade or business in an
15 enterprise zone or a High Impact Business designated by
16 the Department of Commerce and Community Affairs
17 conducting a trade or business in a federally designated
18 Foreign Trade Zone or Sub-Zone shall be allowed a credit
19 against the tax imposed by subsections (a) and (b) of
20 this Section in the amount of $500 per eligible employee
21 hired to work in the zone during the taxable year.
22 (2) To qualify for the credit:
23 (A) the taxpayer must hire 5 or more eligible
24 employees to work in an enterprise zone or federally
25 designated Foreign Trade Zone or Sub-Zone during the
26 taxable year;
27 (B) the taxpayer's total employment within the
28 enterprise zone or federally designated Foreign
29 Trade Zone or Sub-Zone must increase by 5 or more
30 full-time employees beyond the total employed in
31 that zone at the end of the previous tax year for
32 which a jobs tax credit under this Section was
33 taken, or beyond the total employed by the taxpayer
34 as of December 31, 1985, whichever is later; and
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1 (C) the eligible employees must be employed
2 180 consecutive days in order to be deemed hired for
3 purposes of this subsection.
4 (3) An "eligible employee" means an employee who
5 is:
6 (A) Certified by the Department of Commerce
7 and Community Affairs as "eligible for services"
8 pursuant to regulations promulgated in accordance
9 with Title II of the Job Training Partnership Act,
10 Training Services for the Disadvantaged or Title III
11 of the Job Training Partnership Act, Employment and
12 Training Assistance for Dislocated Workers Program.
13 (B) Hired after the enterprise zone or
14 federally designated Foreign Trade Zone or Sub-Zone
15 was designated or the trade or business was located
16 in that zone, whichever is later.
17 (C) Employed in the enterprise zone or Foreign
18 Trade Zone or Sub-Zone. An employee is employed in
19 an enterprise zone or federally designated Foreign
20 Trade Zone or Sub-Zone if his services are rendered
21 there or it is the base of operations for the
22 services performed.
23 (D) A full-time employee working 30 or more
24 hours per week.
25 (4) For tax years ending on or after December 31,
26 1985 and prior to December 31, 1988, the credit shall be
27 allowed for the tax year in which the eligible employees
28 are hired. For tax years ending on or after December 31,
29 1988, the credit shall be allowed for the tax year
30 immediately following the tax year in which the eligible
31 employees are hired. If the amount of the credit exceeds
32 the tax liability for that year, whether it exceeds the
33 original liability or the liability as later amended,
34 such excess may be carried forward and applied to the tax
SB939 Enrolled -11- LRB9003110KDsb
1 liability of the 5 taxable years following the excess
2 credit year. The credit shall be applied to the earliest
3 year for which there is a liability. If there is credit
4 from more than one tax year that is available to offset a
5 liability, earlier credit shall be applied first.
6 (5) The Department of Revenue shall promulgate such
7 rules and regulations as may be deemed necessary to carry
8 out the purposes of this subsection (g).
9 (6) The credit shall be available for eligible
10 employees hired on or after January 1, 1986.
11 (h) Investment credit; High Impact Business.
12 (1) Subject to subsection (b) of Section 5.5 of the
13 Illinois Enterprise Zone Act, a taxpayer shall be allowed
14 a credit against the tax imposed by subsections (a) and
15 (b) of this Section for investment in qualified property
16 which is placed in service by a Department of Commerce
17 and Community Affairs designated High Impact Business.
18 The credit shall be .5% of the basis for such property.
19 The credit shall not be available until the minimum
20 investments in qualified property set forth in Section
21 5.5 of the Illinois Enterprise Zone Act have been
22 satisfied and shall not be allowed to the extent that it
23 would reduce a taxpayer's liability for the tax imposed
24 by subsections (a) and (b) of this Section to below zero.
25 The credit applicable to such minimum investments shall
26 be taken in the taxable year in which such minimum
27 investments have been completed. The credit for
28 additional investments beyond the minimum investment by a
29 designated high impact business shall be available only
30 in the taxable year in which the property is placed in
31 service and shall not be allowed to the extent that it
32 would reduce a taxpayer's liability for the tax imposed
33 by subsections (a) and (b) of this Section to below zero.
34 For tax years ending on or after December 31, 1987, the
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1 credit shall be allowed for the tax year in which the
2 property is placed in service, or, if the amount of the
3 credit exceeds the tax liability for that year, whether
4 it exceeds the original liability or the liability as
5 later amended, such excess may be carried forward and
6 applied to the tax liability of the 5 taxable years
7 following the excess credit year. The credit shall be
8 applied to the earliest year for which there is a
9 liability. If there is credit from more than one tax
10 year that is available to offset a liability, the credit
11 accruing first in time shall be applied first.
12 Changes made in this subdivision (h)(1) by Public
13 Act 88-670 restore changes made by Public Act 85-1182 and
14 reflect existing law.
15 (2) The term qualified property means property
16 which:
17 (A) is tangible, whether new or used,
18 including buildings and structural components of
19 buildings;
20 (B) is depreciable pursuant to Section 167 of
21 the Internal Revenue Code, except that "3-year
22 property" as defined in Section 168(c)(2)(A) of that
23 Code is not eligible for the credit provided by this
24 subsection (h);
25 (C) is acquired by purchase as defined in
26 Section 179(d) of the Internal Revenue Code; and
27 (D) is not eligible for the Enterprise Zone
28 Investment Credit provided by subsection (f) of this
29 Section.
30 (3) The basis of qualified property shall be the
31 basis used to compute the depreciation deduction for
32 federal income tax purposes.
33 (4) If the basis of the property for federal income
34 tax depreciation purposes is increased after it has been
SB939 Enrolled -13- LRB9003110KDsb
1 placed in service in a federally designated Foreign Trade
2 Zone or Sub-Zone located in Illinois by the taxpayer, the
3 amount of such increase shall be deemed property placed
4 in service on the date of such increase in basis.
5 (5) The term "placed in service" shall have the
6 same meaning as under Section 46 of the Internal Revenue
7 Code.
8 (6) If during any taxable year ending on or before
9 December 31, 1996, any property ceases to be qualified
10 property in the hands of the taxpayer within 48 months
11 after being placed in service, or the situs of any
12 qualified property is moved outside Illinois within 48
13 months after being placed in service, the tax imposed
14 under subsections (a) and (b) of this Section for such
15 taxable year shall be increased. Such increase shall be
16 determined by (i) recomputing the investment credit which
17 would have been allowed for the year in which credit for
18 such property was originally allowed by eliminating such
19 property from such computation, and (ii) subtracting such
20 recomputed credit from the amount of credit previously
21 allowed. For the purposes of this paragraph (6), a
22 reduction of the basis of qualified property resulting
23 from a redetermination of the purchase price shall be
24 deemed a disposition of qualified property to the extent
25 of such reduction.
26 (7) Beginning with tax years ending after December
27 31, 1996, if a taxpayer qualifies for the credit under
28 this subsection (h) and thereby is granted a tax
29 abatement and the taxpayer relocates its entire facility
30 in violation of the explicit terms and length of the
31 contract under Section 18-183 of the Property Tax Code,
32 the tax imposed under subsections (a) and (b) of this
33 Section shall be increased for the taxable year in which
34 the taxpayer relocated its facility by an amount equal to
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1 the amount of credit received by the taxpayer under this
2 subsection (h).
3 (i) A credit shall be allowed against the tax imposed by
4 subsections (a) and (b) of this Section for the tax imposed
5 by subsections (c) and (d) of this Section. This credit
6 shall be computed by multiplying the tax imposed by
7 subsections (c) and (d) of this Section by a fraction, the
8 numerator of which is base income allocable to Illinois and
9 the denominator of which is Illinois base income, and further
10 multiplying the product by the tax rate imposed by
11 subsections (a) and (b) of this Section.
12 Any credit earned on or after December 31, 1986 under
13 this subsection which is unused in the year the credit is
14 computed because it exceeds the tax liability imposed by
15 subsections (a) and (b) for that year (whether it exceeds the
16 original liability or the liability as later amended) may be
17 carried forward and applied to the tax liability imposed by
18 subsections (a) and (b) of the 5 taxable years following the
19 excess credit year. This credit shall be applied first to
20 the earliest year for which there is a liability. If there
21 is a credit under this subsection from more than one tax year
22 that is available to offset a liability the earliest credit
23 arising under this subsection shall be applied first.
24 If, during any taxable year ending on or after December
25 31, 1986, the tax imposed by subsections (c) and (d) of this
26 Section for which a taxpayer has claimed a credit under this
27 subsection (i) is reduced, the amount of credit for such tax
28 shall also be reduced. Such reduction shall be determined by
29 recomputing the credit to take into account the reduced tax
30 imposed by subsection (c) and (d). If any portion of the
31 reduced amount of credit has been carried to a different
32 taxable year, an amended return shall be filed for such
33 taxable year to reduce the amount of credit claimed.
34 (j) Training expense credit. Beginning with tax years
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1 ending on or after December 31, 1986, a taxpayer shall be
2 allowed a credit against the tax imposed by subsection (a)
3 and (b) under this Section for all amounts paid or accrued,
4 on behalf of all persons employed by the taxpayer in Illinois
5 or Illinois residents employed outside of Illinois by a
6 taxpayer, for educational or vocational training in
7 semi-technical or technical fields or semi-skilled or skilled
8 fields, which were deducted from gross income in the
9 computation of taxable income. The credit against the tax
10 imposed by subsections (a) and (b) shall be 1.6% of such
11 training expenses. For partners and for shareholders of
12 subchapter S corporations, there shall be allowed a credit
13 under this subsection (j) to be determined in accordance with
14 the determination of income and distributive share of income
15 under Sections 702 and 704 and subchapter S of the Internal
16 Revenue Code.
17 Any credit allowed under this subsection which is unused
18 in the year the credit is earned may be carried forward to
19 each of the 5 taxable years following the year for which the
20 credit is first computed until it is used. This credit shall
21 be applied first to the earliest year for which there is a
22 liability. If there is a credit under this subsection from
23 more than one tax year that is available to offset a
24 liability the earliest credit arising under this subsection
25 shall be applied first.
26 (k) Research and development credit.
27 Beginning with tax years ending after July 1, 1990, a
28 taxpayer shall be allowed a credit against the tax imposed by
29 subsections (a) and (b) of this Section for increasing
30 research activities in this State. The credit allowed
31 against the tax imposed by subsections (a) and (b) shall be
32 equal to 6 1/2% of the qualifying expenditures for increasing
33 research activities in this State.
34 For purposes of this subsection, "qualifying
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1 expenditures" means the qualifying expenditures as defined
2 for the federal credit for increasing research activities
3 which would be allowable under Section 41 of the Internal
4 Revenue Code and which are conducted in this State,
5 "qualifying expenditures for increasing research activities
6 in this State" means the excess of qualifying expenditures
7 for the taxable year in which incurred over qualifying
8 expenditures for the base period, "qualifying expenditures
9 for the base period" means the average of the qualifying
10 expenditures for each year in the base period, and "base
11 period" means the 3 taxable years immediately preceding the
12 taxable year for which the determination is being made.
13 Any credit in excess of the tax liability for the taxable
14 year may be carried forward. A taxpayer may elect to have the
15 unused credit shown on its final completed return carried
16 over as a credit against the tax liability for the following
17 5 taxable years or until it has been fully used, whichever
18 occurs first.
19 If an unused credit is carried forward to a given year
20 from 2 or more earlier years, that credit arising in the
21 earliest year will be applied first against the tax liability
22 for the given year. If a tax liability for the given year
23 still remains, the credit from the next earliest year will
24 then be applied, and so on, until all credits have been used
25 or no tax liability for the given year remains. Any
26 remaining unused credit or credits then will be carried
27 forward to the next following year in which a tax liability
28 is incurred, except that no credit can be carried forward to
29 a year which is more than 5 years after the year in which the
30 expense for which the credit is given was incurred.
31 Unless extended by law, the credit shall not include
32 costs incurred after December 31, 1999, except for costs
33 incurred pursuant to a binding contract entered into on or
34 before December 31, 1999.
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1 (l) Environmental Remediation Tax Credit.
2 (i) For tax years ending after December 31, 1997
3 and on or before December 31, 2001, a taxpayer shall be
4 allowed a credit against the tax imposed by subsections
5 (a) and (b) of this Section for certain amounts paid for
6 unreimbursed eligible remediation costs, as specified in
7 this subsection. For purposes of this Section,
8 "unreimbursed eligible remediation costs" means costs
9 approved by the Illinois Environmental Protection Agency
10 ("Agency") under Section 58.14 of the Environmental
11 Protection Act that were paid in performing environmental
12 remediation at a site for which a No Further Remediation
13 Letter was issued by the Agency and recorded under
14 Section 58.10 of the Environmental Protection Act, and
15 does not mean approved eligible remediation costs that
16 are at any time deducted under the provisions of the
17 Internal Revenue Code. The credit must be claimed for
18 the taxable year in which Agency approval of the eligible
19 remediation costs is granted. In no event shall
20 unreimbursed eligible remediation costs include any costs
21 taken into account in calculating an environmental
22 remediation credit granted against a tax imposed under
23 the provisions of the Internal Revenue Code. The credit
24 is not available to any taxpayer if the taxpayer or any
25 related party caused or contributed to, in any material
26 respect, a release of regulated substances on, in, or
27 under the site that was identified and addressed by the
28 remedial action pursuant to the Site Remediation Program
29 of the Environmental Protection Act. After the Pollution
30 Control Board rules are adopted pursuant to the Illinois
31 Administrative Procedure Act for the administration and
32 enforcement of Section 58.9 of the Environmental
33 Protection Act, determinations as to credit availability
34 for purposes of this Section shall be made consistent
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1 with those rules. For purposes of this Section,
2 "taxpayer" includes a person whose tax attributes the
3 taxpayer has succeeded to under Section 381 of the
4 Internal Revenue Code and "related party" includes the
5 persons disallowed a deduction for losses by paragraphs
6 (b), (c), and (f)(1) of Section 267 of the Internal
7 Revenue Code by virtue of being a related taxpayer, as
8 well as any of its partners. The credit allowed against
9 the tax imposed by subsections (a) and (b) shall be equal
10 to 25% of the unreimbursed eligible remediation costs in
11 excess of $100,000 per site, except that the $100,000
12 threshold shall not apply to any site contained in an
13 enterprise zone and located in a census tract that is
14 located in a minor civil division and place or county
15 that has been determined by the Department of Commerce
16 and Community Affairs to contain a majority of households
17 consisting of low and moderate income persons. The total
18 credit allowed shall not exceed $40,000 per year with a
19 maximum total of $150,000 per site. For partners and
20 shareholders of subchapter S corporations, there shall be
21 allowed a credit under this subsection to be determined
22 in accordance with the determination of income and
23 distributive share of income under Sections 702 and 704
24 of subchapter S of the Internal Revenue Code.
25 (ii) A credit allowed under this subsection that is
26 unused in the year the credit is earned may be carried
27 forward to each of the 5 taxable years following the year
28 for which the credit is first earned until it is used.
29 The term "unused credit" does not include any amounts of
30 unreimbursed eligible remediation costs in excess of the
31 maximum credit per site authorized under paragraph (i).
32 This credit shall be applied first to the earliest year
33 for which there is a liability. If there is a credit
34 under this subsection from more than one tax year that is
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1 available to offset a liability, the earliest credit
2 arising under this subsection shall be applied first. A
3 credit allowed under this subsection may be sold to a
4 buyer as part of a sale of all or part of the remediation
5 site for which the credit was granted. The purchaser of
6 a remediation site and the tax credit shall succeed to
7 the unused credit and remaining carry-forward period of
8 the seller. To perfect the transfer, the assignor shall
9 record the transfer in the chain of title for the site
10 and provide written notice to the Director of the
11 Illinois Department of Revenue of the assignor's intent
12 to sell the remediation site and the amount of the tax
13 credit to be transferred as a portion of the sale. In no
14 event may a credit be transferred to any taxpayer if the
15 taxpayer or a related party would not be eligible under
16 the provisions of subsection (i).
17 (iii) For purposes of this Section, the term "site"
18 shall have the same meaning as under Section 58.2 of the
19 Environmental Protection Act.
20 (Source: P.A. 88-45; 88-89; 88-141; 88-547, eff. 6-30-94;
21 88-670, eff. 12-2-94; 89-235, eff. 8-4-95; 89-519, eff.
22 7-18-96; 89-591, eff. 8-1-96.)
23 Section 15. The Environmental Protection Act is amended
24 by changing Sections 58, 58.2, and 58.3 and adding Sections
25 58.13 and 58.14 as follows:
26 (415 ILCS 5/58)
27 Sec. 58. Intent. It is the intent of this Title:
28 (1) To establish a risk-based system of remediation
29 based on protection of human health and the environment
30 relative to present and future uses of the site.
31 (2) To assure that the land use for which remedial
32 action was undertaken will not be modified without
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1 consideration of the adequacy of such remedial action for
2 the new land use.
3 (3) To provide incentives to the private sector to
4 undertake remedial action.
5 (4) To establish expeditious alternatives for the
6 review of site investigation and remedial activities,
7 including a privatized review process.
8 (5) To assure that the resources of the Hazardous
9 Waste Fund are used in a manner that is protective of
10 human health and the environment relative to present and
11 future uses of the site and surrounding area.
12 (6) To provide assistance to units of local
13 government for remediation of properties contaminated or
14 potentially contaminated by commercial, industrial, or
15 other uses and to establish and provide for the
16 administration of the Brownfields Redevelopment Fund.
17 (Source: P.A. 89-431, eff. 12-15-95; 89-443, eff. 7-1-96.)
18 (415 ILCS 5/58.2)
19 Sec. 58.2. Definitions. The following words and phrases
20 when used in this Title shall have the meanings given to them
21 in this Section unless the context clearly indicates
22 otherwise:
23 "Agrichemical facility" means a site on which
24 agricultural pesticides are stored or handled, or both, in
25 preparation for end use, or distributed. The term does not
26 include basic manufacturing facility sites.
27 "ASTM" means the American Society for Testing and
28 Materials.
29 "Area background" means concentrations of regulated
30 substances that are consistently present in the environment
31 in the vicinity of a site that are the result of natural
32 conditions or human activities, and not the result solely of
33 releases at the site.
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1 "Brownfields site" or "brownfields" means a parcel of
2 real property, or a portion of the parcel, that has actual or
3 perceived contamination and an active potential for
4 redevelopment.
5 "Class I groundwater" means groundwater that meets the
6 Class I Potable Resource groundwater criteria set forth in
7 the Board rules adopted under the Illinois Groundwater
8 Protection Act.
9 "Class III groundwater" means groundwater that meets the
10 Class III Special Resource Groundwater criteria set forth in
11 the Board rules adopted under the Illinois Groundwater
12 Protection Act.
13 "Carcinogen" means a contaminant that is classified as a
14 Category A1 or A2 Carcinogen by the American Conference of
15 Governmental Industrial Hygienists; or a Category 1 or 2A/2B
16 Carcinogen by the World Health Organizations International
17 Agency for Research on Cancer; or a "Human Carcinogen" or
18 "Anticipated Human Carcinogen" by the United States
19 Department of Health and Human Service National Toxicological
20 Program; or a Category A or B1/B2 Carcinogen by the United
21 States Environmental Protection Agency in Integrated Risk
22 Information System or a Final Rule issued in a Federal
23 Register notice by the USEPA as of the effective date of this
24 amendatory Act of 1995.
25 "Licensed Professional Engineer" (LPE) means a person,
26 corporation, or partnership licensed under the laws of this
27 State to practice professional engineering.
28 "Man-made pathway" means constructed routes that may
29 allow for the transport of regulated substances including,
30 but not limited to, sewers, utility lines, utility vaults,
31 building foundations, basements, crawl spaces, drainage
32 ditches, or previously excavated and filled areas.
33 "Municipality" means an incorporated city, village, or
34 town in this State. "Municipality" does not mean a township,
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1 town when that term is used as the equivalent of a township,
2 incorporated town that has superseded a civil township,
3 county, or school district, park district, sanitary district,
4 or similar governmental district.
5 "Natural pathway" means natural routes for the transport
6 of regulated substances including, but not limited to, soil,
7 groundwater, sand seams and lenses, and gravel seams and
8 lenses.
9 "Person" means individual, trust, firm, joint stock
10 company, joint venture, consortium, commercial entity,
11 corporation (including a government corporation),
12 partnership, association, State, municipality, commission,
13 political subdivision of a State, or any interstate body
14 including the United States Government and each department,
15 agency, and instrumentality of the United States.
16 "Regulated substance" means any hazardous substance as
17 defined under Section 101(14) of the Comprehensive
18 Environmental Response, Compensation, and Liability Act of
19 1980 (P.L. 96-510) and petroleum products including crude oil
20 or any fraction thereof, natural gas, natural gas liquids,
21 liquefied natural gas, or synthetic gas usable for fuel (or
22 mixtures of natural gas and such synthetic gas).
23 "Remedial action" means activities associated with
24 compliance with the provisions of Sections 58.6 and 58.7.
25 "Remediation Applicant" (RA) means any person seeking to
26 perform or performing investigative or remedial activities
27 under this Title, including the owner or operator of the site
28 or persons authorized by law or consent to act on behalf of
29 or in lieu of the owner or operator of the site.
30 "Remediation costs" means reasonable costs paid for
31 investigating and remediating regulated substances of concern
32 consistent with the remedy selected for a site. For purposes
33 of Section 58.14, "remediation costs" shall not include costs
34 incurred prior to January 1, 1998, costs incurred after the
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1 issuance of a No Further Remediation Letter under Section
2 58.10 of this Act, or costs incurred more than 12 months
3 prior to acceptance into the Site Remediation Program.
4 "Residential property" means any real property that is
5 used for habitation by individuals and other property uses
6 defined by Board rules such as education, health care, child
7 care and related uses.
8 "Site" means any single location, place, tract of land or
9 parcel of property, or portion thereof, including contiguous
10 property separated by a public right-of-way.
11 "Regulated substance of concern" means any contaminant
12 that is expected to be present at the site based upon past
13 and current land uses and associated releases that are known
14 to the Remediation Applicant based upon reasonable inquiry.
15 (Source: P.A. 89-431, eff. 12-15-95; 89-443, eff. 7-1-96.)
16 (415 ILCS 5/58.3)
17 Sec. 58.3. Site Investigation and Remedial Activities
18 Program; Brownfields Redevelopment Fund.
19 (a) The General Assembly hereby establishes by this
20 Title a Site Investigation and Remedial Activities Program
21 for sites subject to this Title. This program shall be
22 administered by the Illinois Environmental Protection Agency
23 under this Title XVII and rules adopted by the Illinois
24 Pollution Control Board.
25 (b) (1) The General Assembly hereby creates within the
26 State Treasury a special fund to be known as the
27 Brownfields Redevelopment Fund, which shall be used and
28 administered by the Agency as provided in Section 58.13
29 of this Act and the rules adopted under that Section.
30 The Brownfields Redevelopment Fund ("Fund") shall contain
31 moneys transferred from the Response Contractors
32 Indemnification Fund and other moneys made available for
33 deposit into the Fund.
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1 (2) The State Treasurer, ex officio, shall be the
2 custodian of the Fund, and the Comptroller shall direct
3 payments from the Fund upon vouchers properly certified
4 by the Agency. The Treasurer shall credit to the Fund
5 interest earned on moneys contained in the Fund. The
6 Agency shall have the authority to accept, receive, and
7 administer on behalf of the State any grants, gifts,
8 loans, reimbursements or payments for services, or other
9 moneys made available to the State from any source for
10 purposes of the Fund. Those moneys shall be deposited
11 into the Fund, unless otherwise required by the
12 Environmental Protection Act or by federal law.
13 (3) Pursuant to appropriation, all moneys in the
14 Fund shall be used by the Agency for the purposes set
15 forth in Section 58.13 of this Act and to cover the
16 Agency's costs of program development and administration
17 under that Section.
18 (Source: P.A. 89-431, eff. 12-15-95; 89-443, eff. 7-1-96.)
19 (415 ILCS 5/58.13 new)
20 Sec. 58.13. Brownfields Redevelopment Grant Program.
21 (a)(1) The Agency shall establish and administer a
22 program of grants to be known as the Brownfields
23 Redevelopment Grant Program to provide municipalities in
24 Illinois with financial assistance to be used for
25 coordination of activities related to brownfields
26 redevelopment, including but not limited to
27 identification of brownfields sites, site investigation
28 and determination of remediation objectives and related
29 plans and reports, and development of remedial action
30 plans, but not including the implementation of remedial
31 action plans and remedial action completion reports. The
32 plans and reports shall be developed in accordance with
33 Title XVII of this Act.
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1 (2) Grants shall be awarded on a competitive basis
2 subject to availability of funding. Criteria for
3 awarding grants shall include, but shall not be limited
4 to the following:
5 (A) problem statement and needs assessment;
6 (B) community-based planning and involvement;
7 (C) implementation planning; and
8 (D) long-term benefits and sustainability.
9 (3) The Agency may give weight to geographic
10 location to enhance geographic distribution of grants
11 across this State.
12 (4) Grants shall be limited to a maximum of
13 $120,000 and no municipality shall receive more than one
14 grant under this Section.
15 (5) Grant amounts shall not exceed 70% of the
16 project amount, with the remainder to be provided by the
17 municipality as local matching funds.
18 (b) The Agency shall have the authority to enter into
19 any contracts or agreements that may be necessary to carry
20 out its duties or responsibilities under this Section. The
21 Agency shall have the authority to adopt rules setting forth
22 procedures and criteria for administering the Brownfields
23 Redevelopment Grant Program. The rules adopted by the Agency
24 may include but shall not be limited to the following:
25 (1) purposes for which grants are available;
26 (2) application periods and content of
27 applications;
28 (3) procedures and criteria for Agency review of
29 grant applications, grant approvals and denials, and
30 grantee acceptance;
31 (4) grant payment schedules;
32 (5) grantee responsibilities for work schedules,
33 work plans, reports, and record keeping;
34 (6) evaluation of grantee performance, including
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1 but not limited to auditing and access to sites and
2 records;
3 (7) requirements applicable to contracting and
4 subcontracting by the grantee;
5 (8) penalties for noncompliance with grant
6 requirements and conditions, including stop-work orders,
7 termination of grants, and recovery of grant funds;
8 (9) indemnification of this State and the Agency by
9 the grantee; and
10 (10) manner of compliance with the Local Government
11 Professional Services Selection Act.
12 (415 ILCS 5/58.14 new)
13 Sec. 58.14. Environmental Remediation Tax Credit review.
14 (a) Prior to applying for the Environmental Remediation
15 Tax Credit under Section 201 of the Illinois Income Tax Act,
16 Remediation Applicants shall first submit to the Agency an
17 application for review of remediation costs. The application
18 and review process shall be conducted in accordance with the
19 requirements of this Section and the rules adopted under
20 subsection (g). A preliminary review of the estimated
21 remediation costs for development and implementation of the
22 Remedial Action Plan may be obtained in accordance with
23 subsection (d).
24 (b) No application for review shall be submitted until a
25 No Further Remediation Letter has been issued by the Agency
26 and recorded in the chain of title for the site in accordance
27 with Section 58.10. The Agency shall review the application
28 to determine whether the costs submitted are remediation
29 costs, and whether the costs incurred are reasonable. The
30 application shall be on forms prescribed and provided by the
31 Agency. At a minimum, the application shall include the
32 following:
33 (1) information identifying the Remediation
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1 Applicant and the site for which the tax credit is being
2 sought and the date of acceptance of the site into the
3 Site Remediation Program;
4 (2) a copy of the No Further Remediation Letter
5 with official verification that the letter has been
6 recorded in the chain of title for the site and a
7 demonstration that the site for which the application is
8 submitted is the same site as the one for which the No
9 Further Remediation Letter is issued;
10 (3) a demonstration that the release of the
11 regulated substances of concern for which the No Further
12 Remediation Letter was issued were not caused or
13 contributed to in any material respect by the Remediation
14 Applicant. After the Pollution Control Board rules are
15 adopted pursuant to the Illinois Administrative Procedure
16 Act for the administration and enforcement of Section
17 58.9 of the Environmental Protection Act, determinations
18 as to credit availability shall be made consistent with
19 those rules;
20 (4) an itemization and documentation, including
21 receipts, of the remediation costs incurred;
22 (5) a demonstration that the costs incurred are
23 remediation costs as defined in this Act and its rules;
24 (6) a demonstration that the costs submitted for
25 review were incurred by the Remediation Applicant who
26 received the No Further Remediation Letter;
27 (7) an application fee in the amount set forth in
28 subsection (e) for each site for which review of
29 remediation costs is requested and, if applicable,
30 certification from the Department of Commerce and
31 Community Affairs that the site is located in an
32 enterprise zone and is located in a census tract that is
33 located in a minor civil division and place or county
34 that has been determined by the Department of Commerce
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1 and Community Affairs to contain a majority of households
2 consisting of low and moderate income persons;
3 (8) any other information deemed appropriate by the
4 Agency.
5 (c) Within 60 days after receipt by the Agency of an
6 application meeting the requirements of subsection (b), the
7 Agency shall issue a letter to the applicant approving,
8 disapproving, or modifying the remediation costs submitted in
9 the application. If the remediation costs are approved as
10 submitted, the Agency's letter shall state the amount of the
11 remediation costs to be applied toward the Environmental
12 Remediation Tax Credit. If an application is disapproved or
13 approved with modification of remediation costs, the Agency's
14 letter shall set forth the reasons for the disapproval or
15 modification and state the amount of the remediation costs,
16 if any, to be applied toward the Environmental Remediation
17 Tax Credit.
18 If a preliminary review of a budget plan has been
19 obtained under subsection (d), the Remediation Applicant may
20 submit, with the application and supporting documentation
21 under subsection (b), a copy of the Agency's final
22 determination accompanied by a certification that the actual
23 remediation costs incurred for the development and
24 implementation of the Remedial Action Plan are equal to or
25 less than the costs approved in the Agency's final
26 determination on the budget plan. The certification shall be
27 signed by the Remediation Applicant and notarized. Based on
28 that submission, the Agency shall not be required to conduct
29 further review of the costs incurred for development and
30 implementation of the Remedial Action Plan and may approve
31 costs as submitted.
32 Within 35 days after receipt of an Agency letter
33 disapproving or modifying an application for approval of
34 remediation costs, the Remediation Applicant may appeal the
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1 Agency's decision to the Board in the manner provided for the
2 review of permits in Section 40 of this Act.
3 (d) (1) A Remediation Applicant may obtain a preliminary
4 review of estimated remediation costs for the development
5 and implementation of the Remedial Action Plan by
6 submitting a budget plan along with the Remedial Action
7 Plan. The budget plan shall be set forth on forms
8 prescribed and provided by the Agency and shall include
9 but shall not be limited to line item estimates of the
10 costs associated with each line item (such as personnel,
11 equipment, and materials) that the Remediation Applicant
12 anticipates will be incurred for the development and
13 implementation of the Remedial Action Plan. The Agency
14 shall review the budget plan along with the Remedial
15 Action Plan to determine whether the estimated costs
16 submitted are remediation costs and whether the costs
17 estimated for the activities are reasonable.
18 (2) If the Remedial Action Plan is amended by the
19 Remediation Applicant or as a result of Agency action,
20 the corresponding budget plan shall be revised
21 accordingly and resubmitted for Agency review.
22 (3) The budget plan shall be accompanied by the
23 applicable fee as set forth in subsection (e).
24 (4) Submittal of a budget plan shall be deemed an
25 automatic 60-day waiver of the Remedial Action Plan
26 review deadlines set forth in this Section and its rules.
27 (5) Within the applicable period of review, the
28 Agency shall issue a letter to the Remediation Applicant
29 approving, disapproving, or modifying the estimated
30 remediation costs submitted in the budget plan. If a
31 budget plan is disapproved or approved with modification
32 of estimated remediation costs, the Agency's letter shall
33 set forth the reasons for the disapproval or
34 modification.
SB939 Enrolled -30- LRB9003110KDsb
1 (6) Within 35 days after receipt of an Agency
2 letter disapproving or modifying a budget plan, the
3 Remediation Applicant may appeal the Agency's decision to
4 the Board in the manner provided for the review of
5 permits in Section 40 of this Act.
6 (e) The fees for reviews conducted under this Section
7 are in addition to any other fees or payments for Agency
8 services rendered pursuant to the Site Remediation Program
9 and shall be as follows:
10 (1) The fee for an application for review of
11 remediation costs shall be $1,000 for each site reviewed.
12 (2) The fee for the review of the budget plan
13 submitted under subsection (d) shall be $500 for each
14 site reviewed.
15 (3) In the case of a Remediation Applicant
16 submitting for review total remediation costs of $100,000
17 or less for a site located within an enterprise zone (as
18 set forth in paragraph (i) of subsection (l) of Section
19 201 of the Illinois Income Tax Act), the fee for an
20 application for review of remediation costs shall be $250
21 for each site reviewed. For those sites, there shall be
22 no fee for review of a budget plan under subsection (d).
23 The application fee shall be made payable to the State of
24 Illinois, for deposit into the Hazardous Waste Fund.
25 Pursuant to appropriation, the Agency shall use the fees
26 collected under this subsection for development and
27 administration of the review program.
28 (f) The Agency shall have the authority to enter into
29 any contracts or agreements that may be necessary to carry
30 out its duties and responsibilities under this Section.
31 (g) Within 6 months after the effective date of this
32 amendatory Act of 1997, the Agency shall propose rules
33 prescribing procedures and standards for its administration
34 of this Section. Within 6 months after receipt of the
SB939 Enrolled -31- LRB9003110KDsb
1 Agency's proposed rules, the Board shall adopt on second
2 notice, pursuant to Sections 27 and 28 of this Act and the
3 Illinois Administrative Procedure Act, rules that are
4 consistent with this Section. Prior to the effective date of
5 rules adopted under this Section, the Agency may conduct
6 reviews of applications under this Section and the Agency is
7 further authorized to distribute guidance documents on costs
8 that are eligible or ineligible as remediation costs.
9 (Source: P.A. 88-45; 88-89; 88-141; 88-547, eff. 6-30-94;
10 88-670, eff. 12-2-94; 89-235, eff. 8-4-95; 89-519, eff.
11 7-18-96; 89-591, eff. 8-1-96.)
12 Section 15. The Response Action Contractor
13 Indemnification Act is amended by changing Section 5 as
14 follows:
15 (415 ILCS 100/5) (from Ch. 111 1/2, par. 7205)
16 Sec. 5. (a) There is hereby created the Response
17 Contractors Indemnification Fund. The State Treasurer, ex
18 officio, shall be custodian of the Fund, and the Comptroller
19 shall direct payments from the Fund upon vouchers properly
20 certified by the Attorney General in accordance with Section
21 4. The Treasurer shall credit interest on the Fund to the
22 Fund.
23 (b) Every State response action contract shall provide
24 that 5% of each payment to be made by the State under the
25 contract shall be paid by the State directly into the
26 Response Contractors Indemnification Fund rather than to the
27 contractor, except that when there is more than $4,000,000 in
28 the Fund at the beginning of a State fiscal year, State
29 response action contracts during that fiscal year need not
30 provide that 5% of each payment made under the contract be
31 paid into the Fund. When only a portion of a contract
32 relates to a remedial or response action, or to the
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1 identification, handling, storage, treatment or disposal of a
2 pollutant, the contract shall provide that only that portion
3 is subject to this subsection.
4 (c) Within 30 days after the effective date of this
5 amendatory Act of 1997, the Comptroller shall order
6 transferred and the Treasurer shall transfer $1,200,000 from
7 the Response Contractors Indemnification Fund to the
8 Brownfields Redevelopment Fund. The Comptroller shall order
9 transferred and the Treasurer shall transfer $1,200,000 from
10 the Response Contractors Indemnification Fund to the
11 Brownfields Redevelopment Fund on the first day of fiscal
12 years 1999, 2000, 2001, and 2002.
13 (Source: P.A. 89-254, eff. 8-8-95.)
14 Section 99. Effective date. This Act takes effect upon
15 becoming law.