Bill Text: IL SB3723 | 2011-2012 | 97th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Income Tax Act. Creates a credit for taxpayers who make a purchase of green power during the taxable year. Provides that the credit shall be in an amount equal to 5% of the amount expended if the taxpayer is a purchaser of Illinois-based green power and 3% of the amount expended if the taxpayer is a purchaser of green power from a source outside of Illinois. Defines "green power" as electricity or natural gas produced from renewable or non-polluting technologies including, but not limited to, air turbines (windmills), geothermal power plants, hydropower plants, solar cells or biomass. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB3723 Detail]
Download: Illinois-2011-SB3723-Introduced.html
Bill Title: Amends the Illinois Income Tax Act. Creates a credit for taxpayers who make a purchase of green power during the taxable year. Provides that the credit shall be in an amount equal to 5% of the amount expended if the taxpayer is a purchaser of Illinois-based green power and 3% of the amount expended if the taxpayer is a purchaser of green power from a source outside of Illinois. Defines "green power" as electricity or natural gas produced from renewable or non-polluting technologies including, but not limited to, air turbines (windmills), geothermal power plants, hydropower plants, solar cells or biomass. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB3723 Detail]
Download: Illinois-2011-SB3723-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Income Tax Act is amended by adding | |||||||||||||||||||
5 | Section 223 as follows:
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6 | (35 ILCS 5/223 new) | |||||||||||||||||||
7 | Sec. 223. Green power credit. For tax years
beginning on or | |||||||||||||||||||
8 | after January 1, 2013, each taxpayer who makes a purchase of | |||||||||||||||||||
9 | green power through an alternative retail electric supplier or | |||||||||||||||||||
10 | an alternative gas supplier, as defined by the Public Utilities | |||||||||||||||||||
11 | Act, during the taxable year is
entitled to a credit against | |||||||||||||||||||
12 | the taxes imposed under
subsections (a) and (b) of Section 201 | |||||||||||||||||||
13 | of this Act as provided
in this Section. If the taxpayer is a | |||||||||||||||||||
14 | purchaser of Illinois-based green power, then the credit shall | |||||||||||||||||||
15 | be in an amount equal to 5% of the amount expended on the | |||||||||||||||||||
16 | purchase during the taxable year. If the taxpayer is a | |||||||||||||||||||
17 | purchaser of green power from a source outside of Illinois, | |||||||||||||||||||
18 | then the credit shall be in an amount equal to 3% of the amount | |||||||||||||||||||
19 | expended on the purchase. | |||||||||||||||||||
20 | As used in this Section, "green power" means electricity or | |||||||||||||||||||
21 | natural gas produced from renewable or non-polluting | |||||||||||||||||||
22 | technologies including, but not limited to, air turbines | |||||||||||||||||||
23 | (windmills), geothermal power plants, hydropower plants, solar |
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1 | cells or biomass.
"Illinois-based green power" means | ||||||
2 | electricity or natural gas produced from renewable or | ||||||
3 | non-polluting technologies including, but not limited to, air | ||||||
4 | turbines (windmills), geothermal power plants, hydropower | ||||||
5 | plants, solar cells or biomass that are solely located within | ||||||
6 | the State of Illinois. | ||||||
7 | The tax credit may not reduce the taxpayer's liability to | ||||||
8 | less than
zero and may not be carried forward to future taxable | ||||||
9 | years.
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10 | Section 99. Effective date. This Act takes effect upon | ||||||
11 | becoming law.
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