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Amends the Illinois Income Tax Act. Provides that, if a taxpayer is awarded a credit by the Department of Commerce and Economic Opportunity in connection with a qualifying Illinois data center located in a qualified area or a data center developed by a minority-owned business, a women-owned business, or a business owned a person with a disability, then the taxpayer is entitled to an additional income tax credit in an amount equal to 5% of the taxpayer's investment in qualified tangible personal property used in the construction or operation of that data center. Effective immediately.
Introduced
Jan 22, 2025
Last Action
Feb 27, 2025
Session
IL 104th
Sponsors
1 primary · 2 co
Added as Chief Co-Sponsor Sen. Elgie R. Sims, Jr.
Added as Chief Co-Sponsor Sen. Napoleon Harris, III
Filed with Secretary by Sen. Lakesia Collins
First Reading
Referred to Assignments
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Added as Chief Co-Sponsor Sen. Elgie R. Sims, Jr.
Napoleon Harris, III
Elgie R. Sims, Jr.