Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for developers that invest in a qualified project redeveloping a brownfield or grayfield. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Creates an exemption for tangible personal property that is purchased by a developer who has been awarded a certificate of exemption by the Department of Commerce and Economic Opportunity and that is used to rehabilitate brownfield or grayfield property. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2025-01-07 - Session Sine Die [SB3607 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2024-02-09	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3607

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3607 currently on file.