Bill Title: Amends the Property Tax Code. Provides that certain property may be certified by the Department of Revenue as containing a mega project. Provides that a "mega project" is a project with respect to which a company makes a specified investment during a specified investment period. Provides that the mega project property is eligible for an assessment freeze. Provides that mega project property may be granted an abatement. Provides that a company that operates a mega project shall enter into an agreement with the municipality in which the project is located to make certain special payments. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that qualified tangible personal property used in the construction or operation of a mega project is exempt from the taxes imposed under those Acts. Effective June 1, 2023.

Spectrum: Moderate Partisan Bill (Republican 5-1)

Status: (Introduced) 2024-04-15 - Chief Sponsor Changed to Sen. Don Harmon [SB1350 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Don Harmon [D]	Primary	Sponsored Bills	SD-039	FollowTheMoney	Ballotpedia	VoteSmart
Senator Seth Lewis [R]	Cosponsor	Sponsored Bills	SD-024	FollowTheMoney	Ballotpedia	VoteSmart
Senator Donald DeWitte [R]	Cosponsor	Sponsored Bills	SD-033	FollowTheMoney	Ballotpedia	VoteSmart
Senator Susan Rezin [R]	Cosponsor	Sponsored Bills	SD-038	FollowTheMoney	Ballotpedia	VoteSmart
Senator John Curran [R]	Cosponsor	Sponsored Bills	SD-041	FollowTheMoney	Ballotpedia	VoteSmart
Senator Dan McConchie [R]	Cosponsor	Sponsored Bills	SD-026	FollowTheMoney	Ballotpedia	VoteSmart

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