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Amends the Illinois Income Tax Act. Creates an income tax credit for developers that invest in a qualified project redeveloping a brownfield or grayfield. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Creates an exemption for tangible personal property that is purchased by a developer who has been awarded a certificate of exemption by the Department of Commerce and Economic Opportunity and that is used to rehabilitate brownfield or grayfield property. Effective immediately.
Introduced
Jan 24, 2025
Last Action
Jun 2, 2025
Session
IL 104th
Sponsors
1 primary · 1 co
Rule 3-9(a) / Re-referred to Assignments
Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
Rule 2-10 Committee Deadline Established As May 9, 2025
Rule 2-10 Committee Deadline Established As April 11, 2025
Added as Chief Co-Sponsor Sen. Paul Faraci
Assigned to Revenue
Filed with Secretary by Sen. Michael W. Halpin
Referred to Assignments
First Reading
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 3-9(a) / Re-referred to Assignments
Michael W. Halpin