Bill Text: IL HB2496 | 2013-2014 | 98th General Assembly | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Enterprise Zone Act. Provides that a business that intends to establish a fertilizer plant at a designated location in Illinois may be designated as a high impact business. Provides that a business that intends to make a minimum investment of $500,000,000, which will be placed in service in a qualified property, and intends to create 125 full-time equivalent jobs at a designated location in Illinois may be designated as a high impact business. Amends the Property Tax Code to provide for an abatement of property taxes for property of any commercial or industrial development of at least 225 (instead of 500) acres. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Failed) 2014-12-03 - Session Sine Die [HB2496 Detail]
Download: Illinois-2013-HB2496-Amended.html
Bill Title: Amends the Illinois Enterprise Zone Act. Provides that a business that intends to establish a fertilizer plant at a designated location in Illinois may be designated as a high impact business. Provides that a business that intends to make a minimum investment of $500,000,000, which will be placed in service in a qualified property, and intends to create 125 full-time equivalent jobs at a designated location in Illinois may be designated as a high impact business. Amends the Property Tax Code to provide for an abatement of property taxes for property of any commercial or industrial development of at least 225 (instead of 500) acres. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Failed) 2014-12-03 - Session Sine Die [HB2496 Detail]
Download: Illinois-2013-HB2496-Amended.html
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| 1 | AMENDMENT TO HOUSE BILL 2496
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| 2 | AMENDMENT NO. ______. Amend House Bill 2496 on page 2, by | ||||||
| 3 | replacing lines 2 through 6 with the following:
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| 4 | "Illinois or intends to make a minimum investment of | ||||||
| 5 | $30,000,000"; and
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| 6 | by replacing everything from line 23 on page 6 through line 3 | ||||||
| 7 | on page 7 with the following: | ||||||
| 8 | "(F) the business intends to (i) make a minimum | ||||||
| 9 | investment of $500,000,000, which will be placed in service | ||||||
| 10 | in a qualified property, (ii) create 125 full-time | ||||||
| 11 | equivalent jobs at a designated location in Illinois, and | ||||||
| 12 | (iii) establish a fertilizer plant at a designated location | ||||||
| 13 | in Illinois; for the purposes of this Section, "fertilizer | ||||||
| 14 | plant" means a newly constructed or upgraded plant | ||||||
| 15 | facilitating gas used in the production of anhydrous | ||||||
| 16 | ammonia and downstream nitrogen fertilizer products for | ||||||
| 17 | resale; and".
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