Bill Title: Creates the Hydrogen Fuel Replacement Tax Credit Act. Creates an income tax credit for eligible taxpayers in an amount equal to $1 per kilogram of eligible zero-carbon hydrogen used by the eligible taxpayer during the immediately preceding year. Provides for additional credits if the use of the zero-carbon hydrogen by the eligible taxpayer occurs in an equity investment eligible community. Contains provisions concerning applications and credit allocation by the Department of Commerce and Economic Opportunity. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 18-3)

Status: (Passed) 2023-07-25 - Public Act . . . . . . . . . 103-0268 [HB2204 Detail]

Text: Latest bill text (Chaptered) [HTML]

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