Bill Title: Amends the Illinois Income Tax Act. Provides that taxpayers are entitled to an income tax credit against the taxes imposed under the River Edge Redevelopment Zone Act equal to 100% of the reasonable and prudent costs incurred by a public utility. Provides that any amount of credit that exceeds a taxpayer's liabilities shall be refunded to the taxpayer. Amends the River Edge Redevelopment Zone Act. Restricts the amount of costs recovered by a public utility from retail customers to $5,000,000. Provides for a repeal date of July 1, 2020 (currently, July 29, 2017).

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2015-01-13 - Session Sine Die [SB2977 Detail]

Text: Latest bill text (Amended) [HTML]

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