90th General Assembly
Summary of SB0939
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Senate Sponsors:
WATSON-KARPIEL-CLAYBORNE-BERMAN.

House Sponsors:
STEPHENS-HOLBROOK-NOVAK-SCOTT-PERSICO

Short description: 
EPA-BROWNFIELDS PROGRAM                                                    

Synopsis of Bill as introduced:
        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  Provides that the provisions of the Title are repealed 5      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.                                      
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          415 ILCS 5/211 new                                                   
          415 ILCS 5/212 new                                                   
          Adds reference to:                                                   
          35 ILCS 5/211 new                                                    
          35 ILCS 5/212 new                                                    
          415 ILCS 5/59.9 new                                                  
        Deletes everything.  Amends  the  Environmental  Protection  Act.      
   Creates   a   new  Title  of  the  Act  relating  to  the  Brownfields      
   Rehabilitation  and  Redevelopment   Program.    Provides   that   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 if expanded,      
   rehabilitated,  or  redeveloped.  Provides  that  the  Department,  in      
   cooperation with the Environmental Protection Agency,  the  Department      
   of  Agriculture,  and  the  Department  of  Natural  Resources,  shall      
   prescribe  rules for the implementation of the program within 120 days      
   of the effective date  of  this  amendatory  Act.  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.  Provides that the credit is      
   available to each taxpayer that (1) has  entered  into  a  development      
   agreement  with  Department  of  Commerce  and  Community Affairs, has      
   received an allocation for the credit, and has received a  certificate      
   of  eligibility  for  the credit or (2) is a transferee of the credit.      
   Provides that the Department of Commerce and Community  Affairs  shall      
   determine the amount of the credit and, if applicable, shall prescribe      
   an  annual  tax  credit  distribution  schedule  if  the  term  of the      
   development agreement exceeds one  year.   Provides  that  the  credit      
   shall  be  in  an  amount  equal  to  the  lesser  of  (1) 100% of the      
   remediation costs expended for an approved Brownfields project or  (2)      
   100% of the projected present value of new State tax revenue generated      
   by  an  approved  Brownfields  project.   Exempts this credit from the      
   sunset provisions.  Creates the Small Business  Remediation Tax Credit      
   for taxpayers that employ no more than 50 employees and undertake  the      
   expansion,  rehabilitation,  or  redevelopment  of  a Brownfields site      
   project that generates measurable economic growth resulting in  either      
   a  revenue neutral benefit or a net fiscal benefit in an amount not to      
   exceed $25,000 per project.  Provides that the Department  of  Revenue      
   and the Department of Commerce and Community Affairs shall, within 120      
   days  of the effective date of this amendatory Act, adopt a tax credit      
   schedule.  Provides that  this  credit  is  available  for  tax  years      
   beginning  on  or  after January 1, 1997.  Sunsets this credit after 5      
   years.  Provides that the Brownfields Remediation Tax Credit  and  the      
   Small  Business  Remediation  Tax  Credit  may  not be taken together.      
   Makes other  changes.  Effective immediately.                               
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          35 ILCS 5/211 new                                                    
          35 ILCS 5/212 new                                                    
          415 ILCS 5/59 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                                                  
        Replaces the title and everything after the enacting clause  with      
   a  title  heading  to the Brownfields Rehabilitation and Redevelopment      
   Program.                                                                    
        CONFERENCE COMMITTEE REPORT NO. 1                                      
        Recommends that the Senate concur in House Amendment No. 1.            
        Recommends that the bill be further amended as follows:                
          Deletes reference to:                                                
          415 ILCS 5/Title XVIII heading new                                   
          Adds reference to:                                                   
          30 ILCS 105/5.449 new                                                
          35 ILCS 5/201                   from Ch. 120, par. 2-201             
          415 ILCS 5/58                                                        
          415 ILCS 5/58.2                                                      
          415 ILCS 5/58.3                                                      
          415 ILCS 5/58.13 new                                                 
          415 ILCS 5/58.14 new                                                 
          415 ILCS 100/5                                                       
        Deletes  everything.  Amends  the  Illinois  Income  Tax  Act  to      
   establish an environmental remediation tax  credit  available  in  tax      
   years  ending  on or after December 31, 1997 and on or before December      
   31, 2001 for certain costs incurred by a person after January 1,  1998      
   in  performing  remediation  activities  in  accordance  with the Site      
   Remediation Program under the Environmental  Protection  Act.   Amends      
   the  Environmental  Protection  Act  to  set  forth  the Environmental      
   Protection Agency's procedures for determining whether the remediation      
   costs may be used toward the environmental remediation tax credit.  In      
   that Act, creates  the  Brownfields  Redevelopment  Grant  Program  to      
   provide  municipalities  with  funding  for  brownfields redevelopment      
   efforts.  Sets parameters  for  awarding  grants  under  the  Program.      
   Amends  the  State  Finance  Act  to add the Brownfields Redevelopment      
   Fund.  Amends the Response Action Contractor  Indemnification  Act  to      
   provide  for  the  transfer  of  moneys  from the Response Contractors      
   Indemnification Fund to the Brownfields Redevelopment Fund.  Effective      
   immediately.                                                                
 
Last action on Bill: PUBLIC ACT.............................. 90-0123

   Last action date: 97-07-21

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   1


   END OF INQUIRY 
                                                                               



 Full Text  Bill Status