Bill Title: Reinserts the provisions of the introduced bill with changes. Provides that certain tax incentives created in the introduced bill take effect on January 1, 2022 (in the introduced bill, January 1, 2021). Removes certain obsolete cross-references. Makes formatting changes concerning tax credits and adds conforming changes to the Illinois Income Tax Act. With respect to the investment credit created in the introduced bill, requires the Department of Commerce and Economic Opportunity to provide a tax credit certificate indicating the credit amount and the year in which the property is placed in service. Amends the Illinois Enterprise Zone Act. Provides for the decertification of Enterprise Zones if 80% or more of the businesses receiving tax incentives within that Enterprise Zone fail to submit certain required information. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed - Dead) 2022-12-31 - Chief Sponsor Changed to Sen. Don Harmon [SB1747 Detail]

Text: Latest bill text (Engrossed) [HTML]

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