This Week - Special Edition - The Flood of Senate Legislation
New legislation:
The introduction of new legislation continues.
HB 3999 - Stuart - Amends the Retailers' Occupation Tax Act. Provides that internal (also known as female) and male condoms, incontinence products, diapers, and baby wipes shall be taxed by the State at a rate of 1% (currently, 6.25%). Provides that the net revenue from the 1% tax collected from the sale of those products shall be deposited into the State and Local Sales Tax Reform Fund. Amends the Use Tax, Service Occupation Tax, and Service Occupation Use Tax Acts to make conforming changes.
SB 1528 - Crowe - Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are caregivers of a veteran with a disability. Provides that the credit shall be in an amount equal to 5% of the costs incurred in caring for the veteran, not to exceed $1,000 in credits in any taxable year. Effective immediately.
SB 1572 - Martwick - Amends the Property Tax Code. Creates a homestead exemption in the amount of a reduction of $5,000 from the equalized assessed value of property of police officers and firefighters with duty-related disabilities. Effective immediately.
SB 1586 - Martwick - Amends the Revised Uniform Unclaimed Property Act. Provides that an apparent owner's interest in property includes a deposit into or withdrawal from an account at a financial organization, including (rather than except for) a recurring Automated Clearing House debit or credit previously authorized by the apparent owner, except for (rather than or) an automatic reinvestment of dividends or interest.
SB 1704 - Castro - Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall not issue a tax certificate to any taxpayer under this Act unless the taxpayer first submits a supplier diversity report. Provides that the Department of Commerce and Economic Opportunity shall publish on its website all supplier diversity reports filed by taxpayers under this Act and maintain those reports for at least 5 years.
SB 1706 - Castro - I believe this may be an Illinois Department of Revenue initiative.Amends the Tobacco Products Tax Act of 1995. Provides that specified components of an "electronic cigarette" do not include any solution or substance that contains cannabis subject to tax under the Compassionate Use of Medical Cannabis Program Act or the Cannabis Cultivation Privilege Tax Law. Effective immediately.
SB 1711 - Castro - Amends the Historic Preservation Tax Credit Act. Provides that the aggregate amount of the credit may not exceed $3,000,000. Provides that credits may be awarded upon completion of the project and approval of a complete application (currently, review of the project). Provides that the taxpayer is not eligible to receive credits under that Act and as qualified River Edge Redevelopment Zone property for the same qualified expenditures or qualified rehabilitation plan. Makes various technical corrections concerning allocation of credits. Amends the Illinois Income Tax Act with respect to the Historic Preservation Tax Credit to include provisions concerning limited liability companies. Effective immediately.
SB 1720 - Stadelman - Amends the Illinois Enterprise Zone Act. Modifies the definition of "new wind power facility" for the purpose of designating High Impact Businesses under the Act. Provides that "new wind power facility" includes the replacement of an existing electric generation facility, including the demolition and removal of an electric generation facility irrespective of whether it will be replaced. Provides that a new wind power facility shall be deemed to include any permanent structures associated with the electric generation facility. Makes conforming changes.
SB 1721 - Stadelman - Amends the Property Tax Code. In provisions about delinquent property, provides that a county may take steps necessary (currently, shall take all steps necessary) to acquire title to the property and may manage and operate the property, including, but not limited to, mowing of grass, removal of nuisance greenery, removal of garbage, waste, debris or other materials, or the demolition, repair, or remediation of unsafe structures. Provides costs to be distributed to taxing districts, including operation and maintenance costs and all costs associated with county staff and overhead used to perform the duties of the trustees. Reduces the maximum penalty bids for the annual tax sale from 18% to 12%. In provisions about redemption of property, limits the assessments of penalties from every 6 months to 12 months. Makes conforming changes. Amends the Counties Code and Illinois Municipal Code. Modifies the requirements to have a circuit court declare property abandoned.
SB 1725 - Jones - Amends the Property Tax Code. Provides that the assessor in a county with 3,000,000 or more inhabitants shall include compulsory sales when revising assessments. Provides that the board of review in a county with 3,000,000 or more inhabitants shall include compulsory sales in reviewing and correcting assessments and shall consider whether the compulsory sale would otherwise be considered an arm's length transaction. Effective immediately.
SB 1726 - Jones - Amends the Property Tax Code. Provides that, if a taxpayer objects to all or any part of a property tax for any year based on an assessment, the taxpayer may elect to (i) pay all of the tax due or (ii) pay the amount of tax due for the year for which a tax objection complaint will be filed in compliance with Section 23-10, minus the amount attributable to any portion of the amount of the reduction in assessed value. Contains provisions concerning notice and penalties. Effective immediately.
SB 1739 - Jones - Amends the Illinois Municipal Code. Provides that the corporate authorities of a non-home rule municipality may impose, by ordinance or resolution, a municipal retailers' occupation tax, municipal service occupation tax, or municipal use tax in addition to such taxes already imposed by referendum. Provides that the additional taxes may solely be used for costs incurred by the municipality for employer contributions to public employee pension funds pursuant to the Downstate Police Article, the Downstate Firefighter Article, the Illinois Municipal Retirement Fund (IMRF) Article, the Police Officers' Pension Investment Fund Article, or the Firefighters' Pension Investment Fund Article of the Illinois Pension Code. Provides that the additional taxes may not be more than 1% and may be imposed only in 1/4% increments.
SB 1743 - Bush - Amends the Property Tax Code. In provisions concerning complaints, provides that, if the appellant fails to timely submit evidence required in advance of a hearing, then the appeal shall be dismissed with prejudice.
SB 1744 - Bush - Amends the Property Tax Code. Provides that, if an applicant who qualifies for the senior citizens assessment freeze homestead exemption moves to a different residence in the State and continues to qualify for the exemption, then the new residence shall qualify for the exemption beginning with the taxable year in which the qualified applicant takes ownership of the new residence. Provides that the base year shall be the year prior to the year in which the qualified applicant takes ownership of the new residence. Effective immediately.
SB 1746 - Castro - Creates the Short-Term Rental Operators' Occupation Tax Act. Imposes a tax upon persons engaged in the business of short-term rental at the rate of 5% of 94% of the gross rental receipts from such renting, leasing or letting. Imposes an additional tax at the rate of 1% of 94% of the gross rental receipts from such renting, leasing or letting. Provides that operators of short-term rentals shall obtain a business license from the Department of Revenue. Provides that receipts that are subject to tax under the Hotel Operators' Occupation Tax Act are not subject to tax under the Short-Term Rental Operators' Occupation Tax Act. Amends the Hotel Operators' Occupation Tax Act. Provides that re-renters of hotel rooms who meet certain criteria related to gross receipts or number of transactions are required to collect and remit the tax under the Act. Provides that a "re-renter" is a person who obtains from a hotel operator the right or authority to control the access to, or occupancy of, a hotel room located in this State and who resells the right to occupy that room. Effective October 1, 2021.
SB 1747 - Bush - Creates the Illinois Energy Transition Zone Act. Provides for the certification by the Department of Commerce and Economic Opportunity of municipal ordinances designating an area as an Energy Transition Zone. Provides that green energy enterprises located in Energy Transition Zones shall be eligible to apply for certain tax incentives. Provides that a green energy enterprise is a company that is engaged in the production of solar energy, wind energy, water energy, geothermal energy, bioenergy, or hydrogen fuel and cells. Contains provisions concerning qualifications and applications. Creates the Energy Transition Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall make income tax credit awards under the Act to foster job creation and the development of green energy in Energy Transition Zones. Amends the Illinois Income Tax Act, the Retailers' Occupation Tax Act, and the Public Utilities Act to make conforming changes concerning tax incentives. Effective immediately.
SB 1750 - Hastings - Amends the Property Tax Code. Provides that if a veteran has a service connected disability of 100%, the taxpayer who has been granted a homestead exemption for veterans with disabilities shall no longer be required to reapply for the exemption on an annual basis, and the exemption shall be in effect for as long as the exemption would otherwise be permitted. Makes conforming changes. Effective immediately.
SB 1774 - Murphy - Amends the Property Tax Code. Provides that, for the purposes of the senior citizens assessment freeze homestead exemption, "income" does not include any required minimum distribution from an individual retirement annuity. Effective immediately.
SB 1775 - Murphy - Amends the Property Tax Code. Provides that the county clerk shall abate 10% of the taxes imposed on qualified forest property that is part of a proposed new housing development. Provides that the owner of the property shall obtain approval from the Department of Natural Resources and shall submit a conservation plan and a new housing development plan to the Department of Natural Resources. Provides that "qualified forest property" means land of at least one acre that: (i) is at least 10% stocked by forest trees of any size; (ii) includes forest strips that are at least 120 feet wide; (iii) is managed in accordance with a conservation plan approved by the Department of Natural Resources; and (iv) is not developed for non-forest use as of January 1 of the first taxable year of the abatement. Effective immediately.
SB 1776 - Murphy - Amends the Property Tax Code. In provisions concerning delinquencies by lessees of property owned by a taxing district, provides that such a delinquency occurs 60 days after the final (currently, second) installment due date. Provides that those provisions apply in all counties (currently, in counties with more than 800,000 but fewer than 1,000,000 inhabitants). Effective immediately.
SB 1777 - Murphy - Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that all surplus funds in the special tax allocation fund shall be distributed as soon as possible after they are calculated (rather than distributed annually within 180 days after the close of the municipality's fiscal year).
SB 1792 - Murphy - Amends the Illinois Income Tax Act. Provides that a taxpayer who may claim a qualifying student as a dependent is allowed a credit of up to $2,000 for qualified tuition and fee expenses paid by the taxpayer. Provides that the term qualifying student means a person who (i) is a resident of the State, (ii) is under the age of 24 at the close of the school year for which a credit is sought, and (iii) during the school year for which a credit is sought, is a full-time student enrolled in a program at a qualifying college or university. Effective immediately.
SB 1794 - Murphy - We oppose this legislation which appears to grant additional authority to 3rd party bounty hunters to conduct audits dealing with locally-imposed and locally-collected utility taxes. Amends the Local Government Taxpayers' Bill of Rights Act. Provides that the statute of limitations set by a unit of local government for the determination and assessment of taxes covered by the Act may not exceed 10 years (currently, 4 years) after the end of the calendar year for which the return for the period was filed or the end of the calendar year in which the return for the period was due, whichever occurs later. Makes conforming changes concerning the tolling of this 10-year period. Amends the Illinois Municipal Code. In a Section concerning municipal audits of public utilities, provides that municipalities may request information from public utilities no more than annually (currently, no more than once every 2 years). Provides that, if the public utility fails to respond in a timely manner to the request for information with complete information, the public utility shall be liable to the municipality for a penalty of $1,000 for each day it fails to produce the requested information. Provides that, if a public utility is liable for any error in past tax payments in excess of $5,000 that were unknown prior to an audit from the municipality, then the public utility shall reimburse the municipality for the cost of the audit. Sets forth conditions under which the public utility may be liable for attorney's fees incurred by the municipality.
SB 1811 - Bailey - Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately.
SB 1812 - Bailey - Amends the Illinois Income Tax Act. Creates an income tax deduction in an amount equal to the out-of-pocket costs incurred by a taxpayer during the taxable year for expenses associated with long-term care for the taxpayer or the taxpayer's family member. Effective immediately.
SB 1820 - Koehler - Amends the Property Tax Code to freeze the tax assessment for electricity generating plants for a period of 5 years beginning the year the electricity generating plant is closed. Amends the Unemployment Insurance Act to authorize additional benefits for individuals whose unemployment or partial unemployment is attributable to a layoff from an electric power plant.
SB 1823 - Koehler - Amends the Illinois Income Tax Act. Extends a tax credit allowable for qualified expenditures incurred by a qualified taxpayer in the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone to January 1, 2031 (currently, through January 1, 2022). Provides that, in order to qualify for such a tax credit, expenditures must: (i) equal $5,000 or more, (ii) exceed the adjusted basis of the qualified historic structure on the first day the qualified rehabilitation plan begins, and (iii) be a part of a qualified rehabilitation plan or phase of a qualified rehabilitation plan that received final approval to begin the expenditures no later than December 31, 2026 (currently, only (i) and (ii) are required). Effective immediately.
SB 1841 - Hunter - Creates the Recovery and Mental Health Tax Credit Act. Provides that the Department of Human Services shall establish and administer a recovery tax credit program to provide tax incentives to qualified employers who employ eligible individuals in recovery from a substance use disorder or mental illness in part-time and full-time positions within Illinois. Creates the Advisory Council on Mental Illness and Substance Use Disorder Impacts on Employment Opportunities within Minority Communities. Sets forth the membership of the Council. Provides that the Council shall advise the Department of Human Services regarding employment of persons with mental illnesses and substance use disorders in minority communities. Amends the Illinois Income Tax Act to make conforming changes.
SB 1843 - Hunter - Amends the Illinois Municipal Code. Provides that, in addition to any other tax that may be imposed, a municipality may also impose, by ordinance, a tax upon all persons engaged in the municipality in the business of acting as a resale facilitator. Provides that the tax may be imposed, in one cent increments, at a rate not to exceed $0.05 of the selling price of all tickets or other licenses resold by or through the resale facilitator for amusements taking place within the municipality. Provides that the tax does not apply to: (i) the original sale of a ticket or license by the owner, operator, or manager of an amusement, either directly or through a third party; or (ii) resales by or to ticket brokers registered with the Secretary of State under the Ticket Sale and Resale Act. Defines terms. Amends the State Finance Act to create the Municipal Ticket and License Reselling Tax Fund.
SB 1845 - Hunter - Amends the Property Tax Code. Provides that the owner of a certificate of purchase must file with the county clerk the names and addresses of the owners of the property and those persons entitled to service of notice at their last known addresses. Provides that the clerk shall mail notice within 30 days from the date of the filing of addresses with the clerk.
SB 1848 - Hunter - Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against (i) State income taxes and (ii) any privilege tax or retaliatory tax, penalty, fee, charge, or payment imposed under the Illinois Insurance Code. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Effective immediately.
SB 1864 - Barickman - This bill is an Illinois Chamber of Commerce Tax Institute initiative.Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that, upon the issuance of a disaster proclamation by the Governor covering the location of Taxpayer that is party to an Agreement, the Department of Commerce and Economic Opportunity may modify or restructure the Agreement in a manner that includes, but is not limited to, the temporary modification of the job creation or retention requirements of the Agreement to provide that the Taxpayer will not be considered to be out of compliance with the Agreement so long as the Taxpayer maintains at least 85% of the job creation and retention requirements of the Agreement or a lesser percentage that the Department determines is warranted by the Taxpayer's particular circumstances. Effective immediately.
SB 1868 - Barickman - Amends the Illinois Income Tax Act. Provides that each individual who serves as a volunteer firefighter or a volunteer EMS provider during the taxable year is entitled to a credit in an amount equal to $500. Effective immediately.
SB 1869 - Barickman - Amends the Parking Excise Tax Act. Provides that parking in a parking area owned by an exempt religious organization is exempt from the tax under the Act. Effective immediately.
SB 1880 - Stewart - Amends the Illinois Income Tax Act. Creates the Lincoln-Douglas Historic Tax Credit. Provides that a taxpayer is entitled to a credit of up to 25% of the qualified expenditures incurred by the taxpayer for a qualified rehabilitation of a historic structure located in a Lincoln-Douglas debate community. Effective immediately.
SB 1881 - Stewart - Amends the Economic Development for a Growing Economy Tax Credit Act. Removes provisions concerning conditions that the Business Investment Committee shall determine exist in order for the Committee to make its recommendation that an application for credit should or should not be accepted. Effective immediately.
SB 1883 - Stewart - Amends the Community Mental Health Act. Provides that upon receipt of all the annual moneys collected from the tax levied under the Act, each governmental unit that levies that tax shall immediately deposit 20% of those moneys into a special fund directly controlled by the county sheriff to be used for mental health services within the county jail.
SB 2052 - Aquino - Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department of Revenue may authorize may not exceed $10,000,000 in 2022, $25,000,000 in 2023, or $50,000,000 in 2024 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department of Revenue to make an annual report concerning the credits. Provides that the credit may be carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Further amends the Illinois Income Tax Act to provide that provisions concerning the unrelated business taxable income of an exempt organization apply for taxable years beginning on or after January 1, 2021 (currently, January 1, 2019). Effective immediately.
SB 2053 - Aquino - Amends the Illinois Income Tax Act. Provides that each qualified teacher is entitled to an income tax credit in an aggregate amount equal to 50% of the tuition costs incurred by that teacher at a public university in the State. Provides that each qualified teacher may take no more than 20% of his or her aggregate credit amount in any taxable year. Provides that the term "qualified teacher" means an individual who (i) graduated from a public university in the State, (ii) is employed as a teacher in this State during the taxable year, and (iii) has been employed as a teacher in the State for at least 5 consecutive years as of the first day of the taxable year. Effective immediately.
SB 2056 - Aquino - Amends the Retailers' Occupation Tax Act. Provides that internal (also known as female) and male condoms, incontinence products, diapers, and baby wipes shall be taxed by the State at a rate of 1% (currently, 6.25%). Provides that the net revenue from the 1% tax collected from the sale of those products shall be deposited into the State and Local Sales Tax Reform Fund. Amends the Use Tax, Service Occupation Tax, and Service Occupation Use Tax Acts to make conforming changes.
SB 2057 - Aquino - Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department of Revenue may authorize may not exceed $10,000,000 in 2021, $25,000,000 in 2022, or $50,000,000 in 2023 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department of Revenue to make an annual report concerning the credits. Provides that the credit may be carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Further amends the Illinois Income Tax Act to provide that provisions concerning the unrelated business taxable income of an exempt organization apply for taxable years beginning on or after January 1, 2021 (currently, January 1, 2019). Effective immediately.
SB 2058 - Aquino - Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, the Cigarette Tax Act, the Cigarette Use Tax Act, the Hotel Operators' Occupation Tax Act, the Motor Fuel Tax Law, the Telecommunications Excise Tax Act, and the Liquor Control Act of 1934. Provides that the vendor discount amount under those Acts shall be 1.75%. Provides that the vendor discount may not exceed $1,000 per vendor in any calendar year. Effective immediately.
SB 2060 - Stewart - Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on January 1, 2022, honey bee products are exempt from the tax under those Acts. Effective immediately.
SB 2062 - Castro - This is likely legislation sought by the Cook County Assessor. Amends the Property Tax Code. Provides that owners of income producing properties shall file physical descriptions of their properties with the chief county assessor, on a form and format determined by the chief county assessor. Effective immediately.
SB 2066 - Castro - I believe this is an Illinois Department of Revenue initiative. Also, wouldn't this violate the federal Internet Tax Freedom Act by exempting persons licensed under the Act except for an Internet auction listing service? Amends the Retailers' Occupation Tax Act. Provides that a "marketplace facilitator" does not include a person licensed under the Auction License Act, except for an Internet auction listing service, as defined in the Auction License Act.
SB 2075 - Castro - Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall not issue a tax certificate to any taxpayer under this Act unless the taxpayer first submits a supplier diversity report. Provides that the Department of Commerce and Economic Opportunity shall publish on its website all supplier diversity reports filed by taxpayers under this Act and maintain those reports for at least 5 years.
SB 2083 - Castro - Creates the Interchange Fee Act. Provides that the amount of any covered tax that is calculated as a percentage of the gross retail income received by a merchant or seller in an electronic payment transaction and listed separately on the payment invoice or other demand for payment must be excluded from the amount upon which any interchange fee is charged for the electronic payment transaction with respect to which the covered tax is imposed. Contains provisions concerning penalties.
SB 2084 - Castro - Amends the Illinois Income Tax Act. Provides that the Economic Development for a Growing Economy Tax Credit may be carried forward for 15 (currently, 5) taxable years following the excess credit year. Effective immediately.
SB 2087 - Castro - Amends the Property Tax Code. Provides that an examination for qualification as a person with a disability may also be conducted by an optometrist if the person qualifies because of a visual disability. Effective immediately.
SB 2099 - Martwick - Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that if a county clerk determines that any lot, block, tract, or parcel of real property within a redevelopment project area is not taxable or has an initial equalized assessed value of $0, then the fair market value of the lot, block, tract, or parcel shall be instead determined by a written MAI-certified appraisal or by a written certified appraisal of a State-certified or State-licensed real estate appraiser. Provides that this reappraisal shall be the initial equalized assessed value of the lot, block, tract, or parcel and shall be added to the total initial equalized assessed value of the taxable real property within the redevelopment project area. Limits the provisions to tax increment allocation financing ordinances adopted after the effective date of the amendatory Act.
SB 2100 - Martwick - Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that if (1) three or more improved lots, blocks, tracts, or parcels of real property within a single redevelopment project area are purchased by a developer or a developer's parent company or wholly-owned subsidiary, or any combination thereof, within the 3 years prior to the date that the ordinance providing for the tax increment allocation was adopted by the municipality, and (2) an improvement on any of the lots, blocks, tracts, or parcels of real property is demolished or otherwise rendered uninhabitable, then the initial equalized assessed value for the lot, block, tract or parcel of real property shall be the equalized assessed value of the lot, block, tract, or parcel of real property on the date it was purchased by the developer, the developer's parent company, or the developer's wholly-owned subsidiary or purchased by any combination thereof. Limits the provisions to ordinances adopted after the effective date of the amendatory Act.
SB 2102 - Martwick - I believe this bill is an Illinois Department of Revenue initiative. Amends the Illinois Income Tax Act. Restores certain provisions concerning the calculation of base income for an exempt organization under the Internal Revenue Code. Provides that certain sports wagering winnings are allocable to this State. Effective immediately.
SB 2121 - Peters - This is the Senate version of legislation that would change the determination of income for certain gains and losses of certain high net worth taxpayers from the definition of income under the Internal Revenue to an annual mark-to-market determination. We strongly oppose this proposal to use the mark-to-market rules to determine taxable income. Creates the Extremely High Wealth Mark-to-Market Tax Act. Contains provisions concerning gains or losses of assets for individual taxpayers with net assets worth $50,000,000 or more. Creates a Task Force on mark-to-market tax administration. Sets forth penalties. Effective immediately.
SB 2124 - Peters - Despite the fact that the graduated income tax constitutional amendment was soundly defeated, Senator Peters has introduced this legislation which would impose a surcharge on certain capital gains income. Needless to say, we strongly oppose this bill. Amends the Illinois Income Tax Code. Provides, for tax years ending on or after December 31, 2021, a surcharge is imposed on an Illinois resident's low-taxed investment income. Defines "low-taxed investment income". Provides how the surcharge is calculated. Exempts from the surcharge: (i) resident married individuals filing joint returns, if Illinois taxable income is not more than $250,000; (ii) a resident head of household, if Illinois taxable income is not more than $200,000; and (iii) resident unmarried individuals, resident married individuals filing separate returns, and resident estates and trusts, if Illinois taxable income is not more than $150,000. Effective immediately.
SB 2125 - Peters - Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that the exclusion amount is $2,000,000 for persons dying on or after January 1, 2022 (currently, $4,000,000). Effective immediately.
SB 2126 - Peters - We strongly oppose this legislation that would establish world-wide combination. Amends the Illinois Income Tax Act. Provides that all the corporations, wherever incorporated or domiciled, that are members of a unitary business shall file a combined return as a combined group. Makes changes to the definition of "unitary business". Contains provisions concerning a water's edge election. Provides that, with respect to unitary business groups, "United States" means the 50 states of the United States, the District of Columbia, and United States' territories and possessions.
SB 2127 - Peters - We oppose this legislation. The apportionment change the legislation is seeking to reverse corrected a problem with the apportionment of income of federally regulated exchanges that resulted from the change in Illinois apportionment from cost of performance to market based sourcing. The legislation was designed to keep apportionment of the exchanges at roughly the same percentage they were at prior to the change to marketplace sourcing.Amends the Illinois Income Tax Act. Provides that provisions concerning apportionment of income from federally regulated exchanges apply only for taxable years ending on or before December 31, 2021.
SB 2132 - Simmons - Amends the Illinois Income Tax Act. Creates a credit for each child of the taxpayer who is under the age of 17 in an amount equal to $100. Provides that the credit shall be reduced by $5 for each $2,000 by which the taxpayer's net income exceeds $60,000 in the case of a joint return or exceeds $40,000 in the case of any other form of return. Effective immediately.
SB 2142 - McConchie - We support this legislation which has been an initiative of the Illinois Chamber Tax Institute. Amends the Revised Uniform Unclaimed Property Act. Provides that property due or owed by a business association resulting from a transaction occurring in the normal and ordinary course of business is exempt from the Act. Provides that an action or proceeding may not be maintained by the administrator more than 10 years after the holder filed a nonfraudulent report with the administrator (rather than after the holder specifically identified the property in a report filed with the administrator or gave express notice to the administrator of a dispute regarding the property). Deletes language regarding the tolling of the period of limitation. Provides instead that the parties may agree to extend the period of limitation. Provides that the administrator may not commence an action, proceeding, or examination with respect to a duty of a holder more than 10 years after the duty arose. Provides that if a person subject to examination does not retain the records, the administrator may use specific estimation techniques to determine the amount of unclaimed property and shall incorporate a net method of extrapolation (rather than determine the value of property due using a reasonable method of estimation based on all information available to the administrator). Deletes language providing that a payment made based on estimation is a penalty for failure to maintain the records and does not relieve a person from an obligation to report and deliver property to a State in which the holder is domiciled. Provides that a holder may request a hearing to contest the use or validity of the estimation technique. Provides that the examination is final upon the failure of the holder to request a hearing. Provides that if a hearing is held, the State Treasurer shall issue an order approving or disapproving the use or validity of the estimation techniques. Deletes language providing that if the administrator contracts with a person, the contract may provide for compensation of the person based on a contingent fee. Deletes language providing that an initial report filed for property that was not required to be reported before the Act took effect must include all items of property that would have been presumed abandoned during the 5-year period preceding the effective date as if the Act had been in effect during that period.
SB 2153 - Rezin - Amends the Hospital Licensing Act. Requires a hospital to provide a plan of correction to the Department of Public Health within 60 days if the hospital demonstrates a pattern or practice of failing to substantially comply with specified requirements or with the hospital's written staffing plan. Allows the Department to impose specified fines on a hospital for failing to comply with written staffing plans for nursing services or plans of correction. Requires money from fines to be deposited into the Hospital Licensure Fund (instead of the Long Term Care Provider Fund). Contains provisions concerning staffing plans. Amends the Nursing Education Scholarship Law. Provides that the Department of Public Health may award a total of $500,000 annually in nursing education scholarships. Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are employed during the taxable year as nurse educators. Provides that the credit shall be equal to 2.5% of the taxpayer's federal adjusted gross income for the taxable year. Effective immediately, except that provisions amending the Hospital Licensing Act take effect on the first day of the first full calendar month that begins 6 months after the Act becomes law.
SB 2154 - Tracy - Amends the Property Tax Code. Provides that buildings, structures, and improvements that are not permanently attached to the land are not considered property for the purposes of the Code.
SB 2162 - Anderson - Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to any overtime wages paid to the taxpayer during the taxable year. Effective immediately.
HB 2173 - Anderson - Amends the Illinois Income Tax Act. Provides that an apprentice who is hired by the taxpayer through the United States Department of Defense SkillBridge internship program is considered a qualifying apprentice for the purpose of the apprenticeship education expense credit. Provides that, in the case of an employee participating in the SkillBridge program, the credit shall be equal to $3,500 per qualifying apprentice. Effective immediately.
SB 2178 - Sims - Amends the Property Tax Code. Provides that certain property located in Bloom, Bremen, Calumet, Rich, Thornton, or Worth Township may be certified by the South Suburban Land Bank and Development Authority, the Cook County Land Bank Development Authority, or both collectively, as a southland reactivation site. Sets forth valuation procedures for southland reactivation property. Provides that, for the first 3 tax years after the property is certified as southland reactivation property, the aggregate tax liability for the property shall be no greater than $100,000 per year. Provides that, beginning with the fourth tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, the property's tax liability shall be increased over the tax liability for the preceding year by 5% or the percentage change in the Consumer Price Index, whichever is less. Effective immediately.
SB 2180 - Sims - This bill is an Illinois Chamber Tax Institute initiative. Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, for any leased property (currently, for motor vehicles only), "selling price" means the consideration received by the lessor pursuant to the lease contract and includes certain amounts received by the lessor that are not calculated at the time the lease is executed. Provides for an exemption to the extent of any personal property lease transaction tax paid to a home rule municipality. Provides that a sale of tangible personal property shall be made tax-free on the ground of being a sale for resale or lease (currently, for resale) if the purchaser has an active registration number or resale number from the Department of Revenue and furnishes that number to the seller in connection with certifying to the seller that any sale to such purchaser is nontaxable because of being a sale for resale or lease (currently, for resale). Effective immediately.
SB 2180 - Sims - Amends the Film Production Services Tax Credit Act of 2008. Provides that certain non-resident wages qualify as Illinois labor expenditures. Creates the Illinois Production Workforce Development Fund to be funded with a fee imposed on the transfer of film production services credits. Provides that the Fund shall be used exclusively to provide grants to community-based organizations, labor organizations, private and public universities, community colleges, and other organizations and institutions as deemed appropriated by the Department of Commerce and Economic Opportunity to administer workforce training programs that support efforts to recruit, hire, promote, retain, develop, and train a diverse and inclusive workforce in the film industry. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.
SB 2182 - Sims - This bill makes some tweaks to the data center tax exemption to address issues raised by data centers and the Department of Commerce and Economic Opportunity. Amends Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Makes changes concerning data center investment. Modifies the criteria for determining qualifying Illinois data centers. Provides that the Department of Commerce and Economic Opportunity and any tenant of a qualifying data center seeking a specified exemption for new or existing facilities must enter into a memorandum of understanding. Defines "tenant". Effective immediately.
SB 2184 - Sims - Amends the Illinois Income Tax Act. Provides that an individual taxpayer age 65 or older is entitled to the earned income tax credit without regard to the requirement under the federal Internal Revenue Code that an individual taxpayer without a qualifying child has not attained age 65. Provides that an individual taxpayer age 18 to 24 is entitled to the earned income tax credit without regard to the requirement under the federal Internal Revenue Code that an individual taxpayer without a qualifying child has attained the age of 25. Provides that certain taxpayers using individual tax identification numbers are entitled to the earned income tax credit. Creates the eligible dependent tax credit. Provides that the total amount of credits between the eligible dependent tax credit and the earned income tax credit may not be less than $600. Amends the Earned Income Tax Credit Information Act to delete certain provisions concerning dependent children. Effective immediately.
SB 2188 - Sims - Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that a qualifying Illinois date center is a place, among other criteria, that within 2 years (currently, 90 days) after being placed in service, certifies that it is carbon neutral or has attained other specified certification. Amends the Brownfields Redevelopment and Intermodal Promotion Act. Extends the use of the South Suburban Brownfields Redevelopment Fund. Amends the New Markets Development Program Act. Modifies provisions concerning certification of qualified equity investments and allocation thereof. Provides further rulemaking requirements. Provides that for fiscal years following fiscal year 2026 (currently, 2021), qualified equity investments under the Act shall not be made unless reauthorization is made. Makes other changes. Effective immediately.
SB 2202 - Sims - Amends the Illinois Income Tax Act. Creates an income tax credit for a taxpayer who purchases a manufactured home during the taxable year if: (i) the purchase is the first purchase of the manufactured home for use as a dwelling; and (ii) the taxpayer certifies that, within 30 days after the retail sale, the manufactured home will be affixed to a permanent foundation in the State so that the manufactured home is deemed to be real property. Provides that the credit shall be 50% of the purchase price of the manufactured home. Effective immediately.
SB 2224 - Cappel - Amends the Illinois Income Tax Act. Provides that the credit for student-assistance contributions sunsets on December 31, 2030 (currently, December 30, 2021). Provides that, for taxable years ending on or after December 31, 2021, the maximum student-assistance credit is $1,000 per contributing employee per taxable year (currently, $500). Effective immediately.
SB 2229 - Turner - Amends the Illinois Procurement Code. Provides that the Code does not apply to the leasing of State-owned facilities by a wireless carrier. Amends the Illinois Income Tax Act. Creates credit for the cost of equipment and materials used in the business of providing broadband services in Illinois. Provides that the credit does not apply to equipment and materials placed in service after December 31, 2024. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act to exempt equipment and materials used to provide broadband services in Illinois from taxation under the Acts. Defines terms. Effective immediately.
SB 2242 - Murphy - Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for the purpose of purchasing acoustical materials, other materials, labor, and professional services to soundproof a residential home located at an eligible address against aircraft noise generated by an airport governed by the provisions of the Permanent Noise Monitoring Act. Provides that the credit may not reduce the taxpayer's liability to less than zero; however, the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.
SB 2244 - Murphy - Amends the Property Tax Code. Provides that for taxable year 2020, the maximum income limitation under the senior citizens assessment freeze homestead exemption is $75,000 for counties with 3,000,000 or more inhabitants (currently, $65,000). Provides that, for taxable year 2021 and thereafter, the maximum income limitation under the senior citizens assessment freeze homestead exemption is $75,000 for all counties (currently, $65,000). Amends the Senior Citizens Real Estate Tax Deferral Act. Provides that the income limitation is $75,000 for tax year 2019 and thereafter. Effective immediately.
SB 2247 - Koehler - Amends the Illinois Procurement Code. Provides that the Code does not apply to the leasing of State-owned facilities by a wireless carrier. Amends the Illinois Income Tax Act. Creates credit for the cost of equipment and materials used in the business of providing broadband services in a county in the State with a population of fewer than 40,000 people or a township in the State with a population density of less than 50 households per square mile in a county with a population of less than 300,000 people. Provides that the credit does not apply to equipment and materials placed in service after December 31, 2026. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act to exempt equipment and materials used to provide broadband services in a county in the State with a population of fewer than 40,000 people or a township in the State with a population density of less than 50 households per square mile in a county with a population of less than 300,000 people. Effective immediately.
SB 2253 - Anderson - mends the Property Tax Code. Provides that, for taxable years 2022 and thereafter, in the case of a veteran with any service connected disability, the property is exempt from taxation under this Code. Removes a requirement that taxpayers receiving the homestead exemption for veterans with disabilities shall reapply on an annual basis. Effective immediately.
SB 2255 - Stoller - Amends the Property Tax Code. Provides that homestead property that is newly constructed is entitled to a homestead exemption limited to $75,000 per year in fair cash value, if that property is owned and used exclusively for a residential purpose, regardless of whether or not that property has been rebuilt following a catastrophic event. Provides that chief county assessment officer shall award not more than $5,000,000 in exemptions under those provisions in any taxable year for property that has not been improved or newly constructed following a catastrophic event. Effective immediately.
SB 2256 - Wilcox - This is an Illinois Chamber Tax Institute initiative. Amends the Use Tax Act and the Service Use Tax Act. Provides that the multistate exemption includes the return of property of an out-of-State lessor or purchaser to this State for storage, repair, or refurbishment, so long as the property is not used by a lessee or purchaser in this State. Effective immediately.
SB 2257 - Fowler - This is an Illinois Chamber Tax Institute initiative. Amends the Illinois Income Tax Act. Provides that the maximum withholding tax credit for full-time equivalent employees is determined by the Metropolitan and Nonmetropolitan area of the State that is the base of operations of the employee, as those areas are determined as of May 2017. Makes changes concerning the amount of the credit based on the Metropolitan and Nonmetropolitan area of the State. Makes technical corrections. Effective immediately.
SB 2258 - Rose - Creates the Job Creation Zone Pilot Program Act. Sets forth the boundaries of the Job Creation Zone. Provides that applicants that pledge to hire at least 5 new employees at a designated location within the job creation zone are eligible for credits against their obligation to pay over withholding taxes under the Illinois Income Tax Act. Sets forth the amount of the credit, which is based on the incremental income tax attributable to new employees hired by the taxpayer during the calendar year. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.
SB 2259 - Tracy - Amends the Illinois Income Tax Act. Creates an income tax credit for a taxpayer who makes an investment in depreciable property used primarily to collect or process reclaimable material or to manufacture products from reclaimed material. Sets forth the amount of the credit. Effective immediately.
SB 2260 - Wilcox - Amends the Uniform Penalty and Interest Act. Provides that the penalty for failure to pay the tax shown due or required to be shown due on a return shall be 15% (instead of 20%) of any amount that is paid after the date the Department of Revenue has initiated an audit or investigation of the taxpayer. Provides that the penalty shall be abated if the taxpayer paid to the Department at least 95% of the total tax liability (including any additional liability resulting from the audit or investigation) prior to the initiation of the audit or investigation. Effective January 1, 2022.
SB 2261 - Rose - Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year, or 15% of the manufacturing capital expenditures if the taxpayer is located in a rural or economically challenged area. Provides that the total amount of credits awarded under those provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately.
SB 2275 - Tom Cullerton - Amends the Illinois Municipal Code. Provides that not less than 50 % (currently, 75%) of the amounts collected by a municipality within DuPage County pursuant to the municipal hotel operators' occupation tax and municipal hotel use tax shall be used to promote tourism within that municipality. Changes the repeal date of the Sections from January 1, 2023 to January 1, 2025. Effective immediately.
SB 2278 - Stadelman - Amends the Counties Code. Provides that a county that is authorized to impose a Special County Retailers' Occupation Tax For Public Safety, Public Facilities, Mental Health, Substance Abuse, or Transportation may establish a 7-member board, which shall oversee the use of funds received from the tax.
SB 2279 - Stadelman - Amends the Department of Revenue Law of the Civil Administrative Code of Illinois and the Retailers' Occupation Tax Act. In provisions that allow the Department of Revenue to refuse to issue, reissue, or renew a certificate of registration, provides that a person is considered to be in default for moneys due if the amount was established as a final liability within the 23 years (currently, 20 years) prior to the date of the Department of Revenue's notice of refusal to issue or reissue the certificate of registration, permit, or license. Amends the Property Tax Code. Provides that the effective date of a pollution control facility certificate shall be the date of the last submission of documentation that finalizes the application or the date of the construction of the facility, whichever is later. Creates the Property Tax Appeal Board Supplemental Fund. Provides that all filing fees collected by the Board shall be deposited in the Fund. Provides for the uses of moneys deposited in the Fund. Amends various tax Acts to provide that upon filing a claim for a credit or for a refund, if the statute of limitations will expire less than 12 months after the date a taxpayer files the claim for credit or refund, that will trigger an automatic 12-month extension of the statute of limitations for assessing additional tax due. Effective immediately.
SB 2290 - Bennett - Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity is authorized to establish the Illinois Innovation Voucher Program for the purpose of fostering research and development in key industry clusters leading to the creation of new products and services that can be marketed by Illinois businesses. Provides that the Department may award innovation vouchers to eligible businesses to offset a portion of expenses incurred through a collaborative research engagement with an Illinois institution of higher education. Provides for the award of matching funds in the form of innovation vouchers. Provides eligibility requirements for receiving innovation vouchers. Provides requirements for administering the Program. Provides for the adoption of rules. Effective immediately.
SB 2293 - Bennett - Amends the Illinois Income Tax Act. Creates a credit for financial institutions with less than $50,000,000,000 in assets in an amount equal to the aggregate amount of all fees, penalties, and any other income derived during the taxable year from each commercial loan transaction that is (i) less than $5,000,000, (ii) originated by the financial institution, (iii) made to a person residing or located in this State, and (iv) made primarily for a business or agricultural project in this State. Effective immediately.
SB 2297 - Gillespie - Amends the Property Tax Code. Provides that, in determining the fair cash value of a low-income housing project (Section 42 properties), the assessment officer must consider the actual or projected net operating income attributable to the property, capitalized at rates for similarly encumbered Section 42 properties. Provides that the owner or owners of the low-income housing project must certify to the appropriate local assessment officer that the owner or owners qualify for the low-income housing tax credit under Section 42 of the Internal Revenue Code for the property.
SB 2298 - Gillespie - Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Adds two factors to the determination of a "blighted area" for improved, industrial, commercial, and residential buildings or improvements: (i) if the redevelopment project area has had an annual average unemployment rate of at least 120% of the State's annual average unemployment rate; and (ii) if the redevelopment project area has a poverty rate of at least 20%, 50% or more of children in the redevelopment project area participate in the federal free lunch program, or 20% or more households in the redevelopment project area receive food stamps. Removes or modifies various factors from the definitions of "blighted area" and "conservation area" for improved and vacant areas. Provides that a new redevelopment project shall have a completion date no later than December 31st of the 10th year after the ordinance was adopted (rather than the 23rd year) and may be extended to 15 years (rather than 35 years). Provides that the joint review board and municipality shall approve surplus funds and extensions of redevelopment project area completion dates. Provides that surplus funds shall be distributed annually within 90 days (rather than 180 days) after the close of a municipality's fiscal year. Provides that a new or modified redevelopment project area that overlaps with any existing redevelopment project area shall not be approved. Effective July 1, 2021.
SB 2300 - Gillespie - Creates the Assault Weapon Retailers' Tax Act. Imposes a tax on licensed firearm dealers engaged in the State in the business of making retail sales of assault weapons, large capacity ammunition feeding devices, or both. Provides that the tax shall be imposed at the rate of 10% of the retail selling price of each assault weapon or large capacity ammunition feeding device sold in the State. Provides that the proceeds from the tax shall be deposited into the Firearms Tax Fund. Provides that moneys in the Firearms Tax Fund shall be used to prevent gun violence in schools and State-owned buildings. Amends the State Finance Act to create the Firearms Tax Fund.
SB 2304 - Gillespie - Amends the Property Tax Code. Provides for a reduction in assessed value for affordable rental housing construction or rehabilitation. Amends the Affordable Housing Planning and Appeal Act. Provides that an affordable housing plan, or any revision thereof, shall not be adopted by a non-exempt local government until notice and opportunity for public hearing have first been afforded. Makes other changes. Effective immediately.
SB 2349 - Hastings - Amends the Illinois Income Tax Act. Creates a deduction for certain unreimbursed home office expenses. Effective immediately.
SB 2352 - Hastings - Amends the Property Tax Code. Provides that, for homestead property that is the principal place of residence of a caregiver and is used to provide home care services to a person who is over 65 years of age and needs assistance with the activities of daily living, the maximum general homestead exemption shall be increased by $1,000. Effective immediately.
SB 2358 - Conner - Oppose as drafted because it would repeal the foreign tax credit.Amends the Illinois Income Tax Act. Provides that, when calculating the taxpayer's base income, the taxpayer's federal adjusted gross income shall be modified to exclude the portion of the income or loss received from a trade or business conducted within and without Illinois or from a pass-through entity conducting business within and without Illinois that is not derived from or connected with Illinois sources. Repeals provisions concerning a credit for foreign taxes. Effective immediately.
SB 2365 - Connor - mends the Property Tax Code. Provides that photovoltaic electricity generation systems subject to power purchase agreements or leases for solar energy between a third-party owner, an operator, or both, and an end user of electricity are considered solar energy systems. Effective immediately.
SB 2394 - Joyce - Creates the Illinois Renewable Fuel Standards Act. Provides that diesel fuel must contain at least a stated percentage of biodiesel fuel oil by volume on and after a specified date. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Makes changes concerning incentives for biodiesel to provide that the current exemptions for 100% biodiesel and biodiesel blends with more than 10% but no more than 99% biodiesel sunset on December 31, 2021. Provides that, with respect to 100% biodiesel and biodiesel blends with more than 20% but no more than 99% biodiesel, the taxes do not apply to proceeds of sales made on or after January 1, 2022 and on or before June 30, 2024 but apply 100% of the proceeds of sales made thereafter. Effective immediately, except that provisions creating the Illinois Renewable Fuel Standards Act take effect on July 1, 2021.
SB 2396 - Crowe - Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, from August 6, 2021 through August 8, 2021, and from August 13, 2021 through August 15, 2021, the tax imposed under the Acts on clothing and school supplies shall be at the rate of 1.25% (instead of 6.25%). Effective immediately.
SB 2398 - Crowe - Amends the Illinois Income Tax Act. Creates an income tax credit for an Illinois business that increases its average full-time employee head count in the State for the taxable year by more than 20% over its average full-time employee head count in the State for the immediately preceding taxable year. Provides that the amount of the credit is 20% of its tax liability under this Act (other than its withholding tax liability) for the taxable year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.
SB 2425 - Harris - Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that a school bus that is equipped with safety belts for passengers is exempt from the tax under those Acts. Provides that the Acts' automatic sunset provisions do not apply to the exemption. Effective immediately.
SB 2428 - Cunningham - Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the tax imposed on mid-range ethanol blends applies to (i) 80% of the proceeds of sales made on or after July 1, 2019 and on or before December 31, 2023 and (ii) 100% of the proceeds of sales made thereafter. Provides that the term "mid-range ethanol blend" means a blend of gasoline and denatured ethanol that contains not less than 20% but less than 51% denatured ethanol. Makes changes to the definitions of "gasohol" and "majority blended ethanol fuel" to adjust the required percentage of ethanol. Provides that, on and after July 1, 2021 and prior to July 1, 2024, the tax shall be imposed on 90% of the proceeds of sales of gasohol. Effective immediately.
SB 2430 - Cunningham - Amends the Illinois Income Tax Act. Makes changes to the definition of investment partnership to provide that a dealer in qualifying investment securities may be considered an investment partnership. Allows a partnership interest to be considered a qualified security if the interest qualifies as a security within the meaning of Section 2(a)(1) of the federal Securities Act of 1933. In provisions requiring that no less than 90% of the investment partnership's gross income shall consist of interest, dividends, and gains from the sale or exchange of qualifying investment securities, provides that that includes the distributive share of partnership income from lower-tier partnership interests and does not include income from partnerships that are operating at a federal taxable loss. Effective immediately.
SB 2432 - Cunningham - Amends the Service Use Tax Act and the Service Occupation Tax Act. Extends the 1% rate of tax to food prepared for immediate consumption and transferred incident to a sale of service at a facility subject to the Assisted Living and Shared Housing Act or the Life Care Facilities Act.
SB 2440 - Hunter - Creates the Build Illinois Homes Tax Credit Act. Provides that the Illinois Housing Development Authority and the City of Chicago Department of Housing may allocate tax credits to the owners of qualified developments. Provides that the term "qualified development" means a qualified low-income housing project. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.
SB 2444 - Hunter - Amends the Illinois Income Tax Act. Provides that the credit for affordable housing donations sunsets on December 31, 2026 (currently, December 31, 2021). Effective immediately.
SB 2445 - Hunter - Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against (i) State income taxes and (ii) any privilege tax or retaliatory tax, penalty, fee, charge, or payment imposed under the Illinois Insurance Code. Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall develop a form and include it with certain financing agreements. Amends the Retailers' Occupation Tax Act. Creates an exemption for building materials to be incorporated into an 100% affordable housing project by rehabilitation or new construction. Amends the Property Tax Code. Provides for a reduction in assessed value for affordable rental housing construction or rehabilitation. Amends the Affordable Housing Planning and Appeal Act. Provides that an affordable housing plan, or any revision thereof, shall not be adopted by a non-exempt local government until notice and opportunity for public hearing have first been afforded. Makes other changes. Effective immediately.
SB 2449 - Villivalam - Amends the Illinois Income Tax Act. Creates an addition modification in an amount equal to certain gains attributable to Opportunity Funds under certain provisions of the Internal Revenue Code. Effective immediately.
SB 2456 - Villivalam - Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that prescription medicines and medical devices are exempt from the taxes under those Acts. Effective July 1, 2021.
SB 2457 - Villivalam - Amends the Illinois Income Tax Act. Contains provisions concerning a deduction for income included in the taxpayer's federal adjusted gross income and deemed received under Section 951A (GILTI) or Section 952 (Subpart F) of the Internal Revenue Code.
SB 2477 - Villivalam - Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who employ individuals working within the engineering sector who graduated from an accredited institution of higher learning with a Bachelor's degree or higher. Provides that the credit shall be equal to 10% of the compensation paid for the first through fifth years of employment in the engineering sector if the qualified employee graduated from an institution located in Illinois or 5% of the compensation paid for the first through fifth years of employment in the engineering sector if the qualified employee graduated from an institution not located in Illinois. Effective immediately.
SB 2483 - Villivalam - Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, the Cigarette Tax Act, the Cigarette Use Tax Act, the Hotel Operators' Occupation Tax Act, the Motor Fuel Tax Law, the Telecommunications Excise Tax Act, and the Liquor Control Act of 1934. Provides that the vendor discount amount under those Acts shall be 2% on and after January 1, 2022. Provides that the vendor discount may not exceed $1,000 per vendor in any calendar year. Effective immediately.
SB 2490 - Villivalam - Amends the Illinois Income Tax Act. Creates an income tax credit for an employer who hires a qualified employee to work at a location in the State. Sets forth the amount of the credit. Provides that the credit shall be increased if (i) the qualified employee is hired to work at a location in a disproportionately impacted area or (ii) on the date the qualified employee is hired, the qualified employee resides in a disproportionately impacted area. Limits the total amount of income tax credits that the Department of Commerce and Economic Opportunity may issue over the duration of the program. Provides that the term "qualified employee" means a resident of the State who is hired by the taxpayer to fill a full-time net new job and was unemployed as a result of COVID-19 prior to the date he or she was hired by the taxpayer. Provides that the term "qualified employee" does not include an individual who was furloughed by the taxpayer. Effective immediately.
SB 2509 - Aquino - Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that surplus tax revenues may be used to pay for costs of special education, social services, and other costs of a public school district. Provides that for municipalities with a population of over 1,000,000, redevelopment project costs include public school district qualified workers, costs of providing special educational facilities and services, school psychological services, and school social work services, and any surplus balance in the special tax allocation fund at the end of the fiscal year shall be used for these workers, facilities, and services. Removes provisions allowing anticipated redevelopment project costs to be deemed surplus funds.
SB 2528 - Wilcox - Amends the Illinois Income Tax Act. Provides that an apprentice who is hired by the taxpayer through the United States Department of Defense SkillBridge internship program is considered a qualifying apprentice for the purpose of the apprenticeship education expense credit. Provides that, in the case of an employee participating in the SkillBridge program, the credit shall be equal to $3,500 per qualifying apprentice. Effective immediately.
SB 2532 - Rose - Amends the Pyrotechnic Use Act. Provides that the provision prohibiting the sale and use of fireworks does not apply to D.O.T. Class C common fireworks. Provides that D.O.T. Class C common fireworks may only be purchased by individuals over the age of 18. Provides that fireworks may only be discharged by individuals over the age of 18. Repeals provisions concerning fireworks consumer display permits. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on January 1, 2022, each month the Department of Revenue shall pay into the Fire Prevention Fund 50% of the net revenue realized for the preceding month from the tax imposed on the selling price of D.O.T. Class C common fireworks. Effective immediately, except that provisions amending the Pyrotechnic Use Act take effect on January 1, 2022.
SB 2540 - Bush - Amends the Property Tax Code. Provides that, in counties with less than 3,000,000 inhabitants, property under a forestry management plan shall be valued at 1/18 (currently, 1/6) of its productivity index equalized assessed value as cropland. Effective January 1, 2022.
SB 2543 - Bush - Amends the Property Tax Code. Provides that, in counties of less than 3,000,000 inhabitants, beginning in assessment year 2024, lots that have been platted and subdivided shall be assessed based on the estimated price the property would bring at a fair voluntary sale (currently, based on the assessed value assigned to the property when last assessed prior to its last transfer or conveyance).
SB 2544 - Bush - Amends the Property Tax Code. Removes provisions concerning compulsory sales.
SB 2545 - Bush - Amends the Property Tax Code. Provides that, when considering whether to grant a leasehold exemption, the chief county assessment officer may require that the owner and the lessee are immediate family members.
SB 2546 - Bush - Amends the Property Tax Code. Provides that, if a complainant is unable to personally attend a hearing, the complainant may permit a relative, friend, or real estate agent to represent them at the hearing, regardless of whether the relative, friend, or real estate agent is a lawyer or not. Imposes a fiduciary obligation on the relative, friend, or real estate agent.
SB 2556 - Bush - Amends the Downstate Forest Preserve District Act. Provides that forest preserve districts with a population of less than 3,000,000 may levy taxes for general corporate purposes after referendum for a fiscal year not exceeding the rate of .08% (rather than .06%) of the value of the taxable property. Provides that forest preserve districts having a population of 100,000 or more but less than 3,000,000 may levy taxes for specified purposes after referendum not exceeding the rate of .045% (rather than .025%) of the assessed value of all taxable property. Effective immediately.
SB 2557 - Bush - Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity may require a business organization to agree to certain terms that ensure the business is a good corporate citizen as a condition for receiving development assistance. Provides that a business that cannot truthfully agree to any required terms shall be ineligible for the development assistance. Specifies terms that may be required. Provides that compliance with good corporate citizen eligibility is required throughout a development assistance agreement. Provides that the Department may seek revocation of any credits or exemptions that were earned or used during a time when the business or its corporate parent or affiliate was not in compliance with any applicable requirements. Provides for the adoption of rules. Defines terms.
SB 2559 - Bush - Amends the Property Tax Code. Provides that, for the 2015 taxable year and thereafter, the exemption for veterans with disabilities also carries over to the surviving spouse of a veteran who was killed in the line of duty in the current taxable year or any preceding taxable year. Provides that, for the 2021 taxable year and thereafter, the exemption for veterans with disabilities also carries over to (i) the surviving spouse of a veteran who did not obtain the exemption before death, but who would have qualified for the exemption in the current taxable year if he or she had survived and (ii) the surviving spouse of a veteran whose death was determined to be service-connected and who is certified by the United States Department of Veterans Affairs as being a current recipient of Dependency and Indemnity Compensation. Provides that, in the case of a surviving spouse who is certified by the United States Department of Veterans Affairs as being a current recipient of Dependency and Indemnity Compensation, the property is exempt. Effective immediately.
SB 2560 - Bush - Amends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Provides that the credit may be carried forward for a period of 20 taxable years (currently, 5 taxable years). Makes changes concerning the calculation of the credit. Effective immediately.
SB 2573 - Bush - Amends the Retailers' Occupation Tax Act. Provides that, if a person who is licensed as a retailer of alcoholic liquor under the Liquor Control Act has had the renewal of his or her certificate of registration denied or revoked by the Department of Revenue, then distributors licensed under the Liquor Control Act are prohibited from selling alcoholic liquor to that retailer, and that retailer is prohibited from purchasing alcoholic liquor from distributors, pending notification by the Department of Revenue that the denied renewal or revocation has been resolved to the Department of Revenue's satisfaction. Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Requires applicants for a certificate of registration to pay a nonrefundable application fee of $30.
