Bill Text: IL SB3723 | 2011-2012 | 97th General Assembly | Amended
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-Amended.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-Amended.html
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1 | AMENDMENT TO SENATE BILL 3723
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2 | AMENDMENT NO. ______. Amend Senate Bill 3723 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Illinois Income Tax Act is amended by | ||||||
5 | adding Section 223 as follows:
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6 | (35 ILCS 5/223 new) | ||||||
7 | Sec. 223. Green energy credit. | ||||||
8 | (a) For tax years
beginning on or after January 1, 2013, | ||||||
9 | each taxpayer who, individually or through a municipal | ||||||
10 | aggregation program, makes a purchase of (i) green energy, (ii) | ||||||
11 | a renewable energy credit, or (iii) a carbon offset through an | ||||||
12 | alternative retail electric supplier or an alternative gas | ||||||
13 | supplier, as defined by the Public Utilities Act, during the | ||||||
14 | taxable year is
entitled to a credit against the taxes imposed | ||||||
15 | under
subsections (a) and (b) of Section 201 of this Act as | ||||||
16 | provided
in this Section. If the taxpayer is a purchaser of |
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1 | Illinois-based green energy, then the credit shall be in an | ||||||
2 | amount equal to 5% of the amount expended on the purchase | ||||||
3 | during the taxable year. If the taxpayer is a purchaser of | ||||||
4 | green energy from a source outside of Illinois, then the credit | ||||||
5 | shall be in an amount equal to 3% of the amount expended on the | ||||||
6 | purchase. | ||||||
7 | (b) Any alternative retail electric supplier that provides | ||||||
8 | offers that are eligible for this credit must provide a | ||||||
9 | verifiable disclosure statement to the green energy customer. | ||||||
10 | For electricity, the quantity and source of green energy shall | ||||||
11 | be independently verified through the PJM Environmental | ||||||
12 | Information System Generation Attribute Tracking System | ||||||
13 | (PJM-GATS) or the Midwest Renewable Energy Tracking System | ||||||
14 | (M-RETS), which shall document the location of generation, | ||||||
15 | resource type, month, and year of generation for all qualifying | ||||||
16 | renewable energy resources that an alternative retail electric | ||||||
17 | supplier uses to comply with this Section. Any alternative gas | ||||||
18 | supplier that provides offers for the credit must provide a | ||||||
19 | verifiable disclosure statement to the green energy customer. | ||||||
20 | For natural gas, the quantity of natural gas sourced shall be | ||||||
21 | verified by disclosure of the location of the landfill gas | ||||||
22 | source, or, when using carbon offsets, the offsets must be | ||||||
23 | verified by the Chicago Climate Exchange or a Chicago Climate | ||||||
24 | Exchange approved verifier, including, but not limited to, the | ||||||
25 | University of Illinois IlliniCarbon Project. | ||||||
26 | (c) The tax credit may not reduce the taxpayer's liability |
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1 | to less than
zero and may not be carried forward to future | ||||||
2 | taxable years. | ||||||
3 | (d) As used in this Section: | ||||||
4 | "Green energy" has the same definition as "renewable energy | ||||||
5 | resources" in Section 1-10 of the Illinois Power Agency Act. | ||||||
6 | "Illinois-based green energy" means green energy that is | ||||||
7 | produced solely within the State of Illinois. | ||||||
8 | "Renewable energy credit" has the same definition as found | ||||||
9 | in Section 1-10 of the Illinois Power Agency Act. | ||||||
10 | "Carbon offset" means a verifiable certificate | ||||||
11 | representing a reduction of one metric ton of carbon dioxide | ||||||
12 | and other greenhouse gasses.
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13 | Section 99. Effective date. This Act takes effect upon | ||||||
14 | becoming law.".
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