Illinois House Bill 4064

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on May 3 2023 - 25% progression
Action: 2023-05-03 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Reimagining Energy and Vehicles in Illinois Act. Provides that, if the agreement is entered into on or after the effective date of the amendatory Act and before June 1, 2024 and the applicant (i) is an electric vehicle manufacturer, an electric vehicle component parts manufacturer, or a renewable energy manufacturer or (ii) has existing operations within Illinois that the applicant intends to convert or expand, in whole or in part, from traditional manufacturing to electric vehicle manufacturing, electric vehicle component parts manufacturing, renewable energy manufacturing, or electric vehicle power supply equipment manufacturing, then the applicant must (A) make an investment of at least $500,000,000 in capital improvements at the project site to be placed in service within the State within a 60-month period after approval of the application and (B) retain at least 800 full-time employee jobs in Illinois. Provides that, with respect to those agreements, a taxpayer may receive a tax credit not to exceed 75% of the incremental income tax attributable to retained employees at the applicant's project, except that, if the project is in an underserved area or an energy transition area, then the maximum amount of the credit attributable to retained employees for the applicant may be increased to an amount not to exceed 100% of the incremental income tax attributable to retained employees at the applicant's project. Effective immediately.

REV ILLINOIS PROGRAM

Rep. Amy Elik [R]

Rep. Jay Hoffman [D]

Rep. Katie Stuart [D]

Date	Chamber	Action
2023-05-03	House	Referred to Rules Committee
2023-05-03	House	First Reading
2023-05-03	House	Added Chief Co-Sponsor Rep. Katie Stuart
2023-05-03	House	Added Chief Co-Sponsor Rep. Jay Hoffman
2023-05-03	House	Filed with the Clerk by Rep. Amy Elik

Chapter	Article	Section	Citation Type	Statute Text
20	686	20	Amended Code	Citation Text
20	686	30	Amended Code	Citation Text
20	686	40	Amended Code	Citation Text
20	686	45	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4064&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4064.htm