New legislation:

The introduction of new legislation continues. Please send me your comments and questions on any of these bills. I've tried to highlight the particularly bad legislation. Let me know if I've missed anything, especially in the property tax area.

This list is everything that has been introduced since I sent out my Friday morning newsletter.

This should be most of the House bills. The Senate bill introduction deadline is this Friday, so we have yet to see many Senate bills.

HB 3103 - Yednock - Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who make a qualified donation of a crop to a food bank or other charitable organization in Illinois. Provides that the amount of the credit shall be 15% of the value of the quantity of the crop donated. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

HB 3107 - Evans - Amends the Illinois Income Tax Act. Extends the tax credit for affordable housing donations until December 31, 2026. Effective immediately.

HB 3108 - Evans - Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the deductions and credits that were disallowed under Section 280E of the Internal Revenue Code for the taxable year. Amends the Civic Center Code, the Flood Prevention District Act, the Metro-East Park and Recreation District Act, the Local Mass Transit District Act, and the Water Commission Act of 1985 to provide that those special districts may not levy a tax upon the cultivation and processing of adult use cannabis. Effective immediately.

HB 3121 - Gonzalez - Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayer-employers that offer health insurance to all of their full-time or full-time equivalent employees in an amount equal to a percentage of the premiums paid by the taxpayer. Effective immediately.

HB 3123 - Ramirez - 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.

HB 3129 - Croke - Amends the Illinois Income Tax Act. Provides that a corporation, partnership, limited liability company, or a natural person with an ownership interest of at least 33% (currently, 51%) in the profits, capital, or value of a qualified new business venture may not receive angel investment credits with respect to that qualified business venture. Provides that, if an investment is made in: (i) a qualified new business venture that is minority-owned, women-owned, or a business owned by a person with a disability; or (ii) a qualified new business venture located in a county with a population of not more than 250,000, the amount of the angel investment credit is 35% of the claimant's investment made directly in a qualified new business venture (currently, 25%). Makes changes concerning the maximum amount of the investment under the angel investment credit. Makes other changes.

HB 3140 - Yednock - Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that, for redevelopment project areas designated after November 1, 1999 in municipalities with less than 1,000,000 population, modifies the formula for elementary, secondary, or unit school district's increased costs attributable to assisted housing units located within the redevelopment project area for which the developer or redeveloper receives financial assistance through an agreement with the municipality or because the municipality incurs the cost of necessary infrastructure improvements within the boundaries of the assisted housing sites necessary for the completion of that housing. Removes differences in formulation for alternate method districts, flat grant districts, and foundation districts. For school districts in a municipality with a population in excess of 1,000,000, changes the last date in which a school district is required to submit specified information to October 31 of each year (currently, September 30) and provides that municipalities shall reimburse school districts that have met specified criteria no later than January 31st of the school year in which the claim is made.

HB 3141 - Ness - Amends the Property Tax Code. Provides that, for taxable years 2022 and thereafter, the maximum reduction for the senior citizens homestead exemption is $8,000 in all counties (currently, $8,000 in counties with 3,000,000 or more inhabitants and $5,000 in all other counties). Effective immediately.

HB 3143 - Mayfield - Amends the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act. Imposes a 3.75% surcharge on firearms and firearm component parts. Amends the State Finance Act. Creates the Youthbuild Assistance Fund. Provides that the 3.75% surcharge shall be deposited into the Fund. Sets forth the purposes for which moneys in the Fund may be used. Effective immediately.

HB 3154 - Rohr - Amends the Property Tax Code. Provides that, for taxable years 2021 and thereafter, the maximum reduction under the senior citizens homestead exemption is $9,000 in all counties (currently, $8,000 in counties with 3,000,000 or more inhabitants and $5,000 in all other counties). Provides that the maximum income limitation for the senior citizens assessment freeze homestead exemption is $75,000 (currently, $65,000). Effective immediately.

HB 3163 - Ness - 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.

HB 3164 - Hernandez - We oppose this new tax on wire transfers. Creates the Wire Transfer Tax Act. Provides that a tax of 1% of the amount transferred is imposed on each wire transfer originating from within the State. Provides that the moneys received from the tax shall be deposited into the Illinois DREAM Fund. Amends the Higher Education Student Assistance Act to make conforming changes.

HB 3174 - Walsh - Amends the Illinois Enterprise Zone Act. With respect to new wind power facilities and Wind Energy Businesses, repeals language providing that (i) the penalties for failure to comply with the Prevailing Wage Act are limited to the penalties identified in the Prevailing Wage Act and (ii) the Department of Commerce and Economic Opportunity may not revoke a High Impact Business designation as a result of the failure to comply with the Prevailing Wage Act. Effective immediately.

HB 3176 - Yingling - Amends the Property Tax Code. Provides that, for the 2022 and 2023 levy years, the Property Tax Extension Limitation Law applies to all non-home rule taxing districts. Provides that, for the 2022 and 2023 levy year, the extension limitation under the Property Tax Extension Limitation Law is 0% or the rate of increase approved by the voters. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

HB 3181 - Mah - 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.

HB 3184 - Gordon-Booth - Creates the School Building Rehabilitation Tax Credit Act. Creates an income tax credit equal to 25% of the qualified expenditures incurred by a qualified taxpayer undertaking a qualified rehabilitation plan of a vacant school building. Provides that, to be eligible for the credit, the taxpayer must apply with the Department of Commerce and Economic Opportunity. Provides that the credit is subject to certain limitations. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

HB 3186 - Gordon-Booth - Amends the Historic Preservation Tax Credit Act. Provides that the aggregate amount of credits awarded under the Act to a particular taxpayer may not exceed $3,000,000. Provides that the total amount of expenditures must equal at least $5,000 and (currently, "or") exceed the adjusted basis of the structure. Provides that the taxpayer may not receive a credit under the Act and a River Edge redevelopment credit for the same qualified expenditures or rehabilitation plan. Makes changes concerning the allocation of credits. Makes various technical changes. Amends the Illinois Income Tax Act. Makes changes to the historic preservation credit to include limited liability companies. Effective immediately.

HB 3194 - LaPointe - Amends the Illinois Income Tax Act. Creates a refundable income tax credit in the amount of $1,000 for individual taxpayers who are employed as first responders or front line health care workers in the State during the taxable year. Effective immediately.

HB 3208 - Rohr - Amends the Illinois Income Tax Act. Provides that, if a contribution to a qualified ABLE account is made on or after January 1 of any calendar year and on or before April 15 of that calendar year, the taxpayer is allowed a deduction for that contribution for either the taxable year in which the contribution is made or the immediately preceding taxable year, but not both. Provides that the contribution shall count against the contribution limit for the taxable year in which the deduction is taken. Effective immediately.

HB 3210 - Moylan - Amends the State Finance Act, the Motor Fuel Tax Law, the Emergency Telephone System Act, the Illinois Gambling Act, and the Video Gaming Act. Provides that, in the absence of an appropriation for any State fiscal year, moneys that are required to be distributed to units of local government and other entities from the State and Local Sales Tax Reform Fund, the Motor Fuel Tax Fund, the State Gaming Fund, the Local Government Video Gaming Distributive Fund, and the Statewide 9-1-1 Fund are subject to a continuing appropriation. Effective immediately.

HB 3211 - Moylan - Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, during the week of Veterans Day each year, food for human consumption that is to be consumed off the premises where it is sold as well as prescription and nonprescription medications and certain medical appliances are exempt from the tax imposed under the Acts if the item is purchased by a veteran. Provides that the tax imposed on other merchandise is imposed at the rate of 5% during the same period if the item is purchased by a veteran. Effective immediately.

HB 3237 - Gordon-Booth - Amends the Illinois Income Tax Act. Provides that the credit for expenditures incurred in the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone applies for taxable years ending prior to January 1, 2027 (currently January 1, 2022). Effective immediately

HB 3242 - Mah - We oppose this legislation. Creates the Environmental Responsibility in Tax Credit Awards Act. Provides that, if the Environmental Protection Agency or the Pollution Control Board become aware that a taxpayer receiving State tax incentives has engaged in reckless conduct causing environmental damage that seriously endangers the public health or welfare, the Environmental Protection Agency or the Pollution Control Board, as applicable, shall notify the Department of Revenue of its findings. Provides that the Department of Revenue shall then take steps to revoke the taxpayer's State tax incentives.

HB 3251 - Davis - 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.

HB 3256 - Hoffman - Amends the New Markets Development Program Act. Provides that qualified equity investments may be made under the Act without reauthorization through fiscal year 2026 (currently, fiscal year 2021). Effective immediately.

HB 3257 - Hoffman - There might be some constitutional issues with this one in terms of the scope of the constitutional limitations on property tax exemptions. Amends the Property Tax Code. Provides that dormitories, residence halls, and other housing facilities, whether owned by the school or not, are exempt if: (1) the dormitory, residence hall, or other housing facility is approved by the school; (2) the dormitory, residence hall, or other housing facility is owned and operated by a nonprofit organization; and (3) the dormitory, residence hall, or other housing facility is occupied in whole or in part as living quarters by students who belong to fraternities, sororities, or other campus organizations. Effective immediately.

HB 3289 - Walsh - Amends the Property Tax Code. Provides that each chief county assessment officer may approve a homestead exemption for the 2021 taxable year, without application, for any property that was approved for the exemption for the 2020 taxable year, if: (1) the county board has declared a local disaster as provided in the Illinois Emergency Management Agency Act related to the COVID-19 public health emergency; (2) the owner of record of the property as of January 1, 2021 is the same as the owner of record of the property as of January 1, 2020; (3) the exemption for the 2020 taxable year has not been determined to be an erroneous exemption as defined by the Code; and (4) the taxpayer for the 2020 taxable year has not asked for the exemption to be removed for the 2020 or 2021 taxable years. Effective immediately.

HB 3294 - Wheeler - We support this legislation that fixes a calendar year 2020 problem for bricks and mortar retailers selling on marketplace platforms. Amends the Retailers' Occupation Tax Act. Provides that, beginning January 1, 2020 and through December 31, 2020, sales of tangible personal property made by a marketplace seller over a marketplace for which tax is due but for which use tax has been collected and remitted to the Department of Revenue by a marketplace facilitator are exempt. Provides that the term "marketplace facilitator" does not include any person licensed under the Auction License Act, other than any person who is an Internet auction listing service. Amends the Leveling the Playing Field for Illinois Retail Act. Provides that certified service providers who collect and remit taxes on behalf of retailers may claim the retailers' discount with respect to those taxes. Provides that the retailer is not entitled to the discount with respect to those taxes. Effective immediately.

HB 3301 - Yednock - Amends the Illinois Income Tax Act. Provides that a person who serves as a volunteer emergency worker during the taxable year is entitled to an income tax credit in the amount of $1,000. Effective immediately.

HB 3307 - Slaughter - Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the investment made by the taxpayer during the taxable year in a Qualified Opportunity Fund. Provides that no such credit may be taken for any taxable year that begins prior to January 1, 2022. Provides that excess credits may be carried forward or back. Provides that the aggregate amount of the Qualified Opportunity Fund tax credit shall be limited to $10,000 per taxpayer per calendar year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

HB 3320 - Welter - Amends the Illinois Income Tax Act. Provides that the owner of a pollinator-friendly solar site is entitled to an income tax credit in the amount of $250 per taxable year.

HB 3322 - Welter - Amends the Property Tax Code. Provides that the Senior Citizens Assessment Freeze Homestead Exemption also applies to persons who are quadriplegic; defines "person who is quadriplegic". Amends the State Mandates Act to make conforming changes. Effective immediately.

HB 3323 - Welter - Amends the Property Tax Code. With respect to the homestead exemption for veterans with disabilities, makes changes to the definition of "surviving spouse" to include the surviving spouse of a veteran who did not obtain an exemption before death, but who applied for a service-connected disability certification from the United States Department of Veterans Affairs or the United States Department of Defense no earlier than January 1, 2007 and would have qualified for the exemption under this Section in the current taxable year if he or she had survived. Effective immediately.

HB 3330 - Keicher - Amends the Historic Preservation Tax Credit Act. Provides that the annual credit limit is $30,000,000 (currently, $15,000,000). Provides that projects receiving credits under the Act are subject to the Prevailing Wage Act.

HB 3335 - Keicher - We support the concept of making tax credits transferrable. Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the credit is transferable. 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 shall conduct a study on the advantages, disadvantages, and feasibility of making each tax credit in the State transferable and shall report its findings to the Governor and the General Assembly no later than December 31, 2022. Effective immediately.

HB 3338 - Keicher - Creates the Buy Illinois Use and Occupation Tax Exemption Act. Provides that the Department of Revenue shall study and report to the General Assembly on the impact of State use and occupation taxes on Illinois enterprise. Provides that the study shall include a discussion of: (i) the potential constitutional validity of any statutory law to offer sales tax preferences, with respect to retail transactions made to an Illinois buyer, with respect to goods made in Illinois; and (ii) the advantages and disadvantages of enacting Buy Illinois use and occupation tax preferences. Repeals the Act Jauary 1, 2024.

HB 3385 - Weber - Amends the Illinois Income Tax Act. Provides that a taxpayer is entitled to an income tax credit for each person who is (i) 62 years of age or older during the taxable year and (ii) employed by the taxpayer at a location in this State for not less than 185 days during the taxable year. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

HB 3391 - Weber - Creates the Taxpayer Protection Act. Provides that, on and after the effective date of the Act, for bonds or incurred debt issued through a referendum by a unit of local government or school district, the bonds or incurred debt shall not be extended or reissued unless authorized by a referendum. Provides that a unit of local government or school district shall not submit the question concerning the extension or reissuance of a bond or incurring debt to voters in a referendum until at least one year has passed since the retirement of the bond or debt approved by a referendum. Provides that, on and after the effective date of the Act, a unit of local government or school district shall not submit a question concerning the issuance of a bond or incurring debt to the voters in a referendum until at least one year has passed since that unit or district last proposed a question or proposition concerning the issuance of bonds or incurring debt in a referendum. Limits home rule powers. Amends the Property Tax Code. Provides that there shall not be a service extension base annual increase unless increased by referendum. Amends the School Code. Provides that no later than 30 days before a school district submits to the voters of that district a question on whether to issue bonds or increase the school district's property tax rate, the school district must send informational material to each resident of voting age in the school district; defines "informational material". Specifies what must be included in the informational material Effective immediately.

HB 3398 - Mazzochi - Amends the Illinois Income Tax Act. Creates an income tax credit for custodians of qualifying pupils for eligible education expenses related to online learning, including computers, printers, internet access, textbooks, tutors, and educational facilitators. Provides for an additional credit if the custodian is also an eligible teacher. Creates an income tax credit for employers of custodians of qualifying pupils for eligible expenditures paid by the employer on behalf of the custodian. Provides that the credit is exempt from the Act's automatic sunset provision. Amends the Illinois Administrative Procedure Act to provide for emergency rulemaking. Effective immediately.

HB 3411 - Wilhour - Amends the Invest in Kids Act. Provides that the amount of the credit shall be 100% (currently, 75%) of the total amount of qualified contributions made by the taxpayer during the taxable year. Provides that the annual aggregate credit cap shall be $100,000,000 per calendar year (currently, $75,000,000). Provides that the individual credit cap shall be $1,333,333 per taxpayer (currently, $1,000,000). Removes a limitation that prevent contributions from being directed to a particular subset of schools or a particular school. Provides that, in granting scholarships, first priority shall be given to eligible students who received a scholarship from a scholarship granting organization during the previous school year. Contains provisions concerning technical academies.

HB 3420 - Rohr - Amends the Property Tax Code. In provisions concerning the homestead exemption for veterans with disabilities, provides that: (1) if the veteran has a service connected disability of 30% or more but less than 50%, then the annual exemption is 30% of the assessed value of the property; (2) if the veteran has a service connected disability of 50% or more but less than 70%, then the annual exemption is 50% of the assessed value of the property; and (3) if the veteran has a service connected disability of 70% or more, then the property is exempt from taxation. Effective immediately.

HB 3424 - Guzzardi - We strongly oppose this legislation. 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.

HB 3425 - Guzzardi - 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.

HB 3426 - Guzzardi - We oppose capping the vendor discount. 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.

HB 3427 - Guzzardi - We oppose reducing the exclusion under the Illinois Estate Tax. We believe the tax should be eliminated or at least the exclusion amount should be raised to match the federal exclusion amount. 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.

HB 3467 - Moylan - 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.

HB 3475 - Ramirez - We oppose this legislation. Redefining the definition of income to use mark-to-market valuation is antithetical to U.S. system of taxation and is an artificial and inaccurate manner of determining income. It would result in the same wild and unrealistic fluctuations that is currently seen in the mark-to-market requirements for financial reporting by public companies. 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. Effective immediately.

HB 3476 - Ramirez - We oppose this unconstitutional legislation. 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.

HB 3477 - Ramirez - We oppose this conceptually and technically flawed legislation. 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.

HB 3478 - Ramirez - We oppose this legislation designed to tax income that the State of Illinois has no right to tax. 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.

HB 3506 - Hirschauer - Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who purchase an electric vehicle during the taxable year. Provides that the amount of the credit is equal to the purchase price of the vehicle. Provides that excess credit amounts may not be carried forward or back and shall not be refunded to the taxpayer. Effective immediately.

HB 3516 - Wheeler - mends the Property Tax Code. Creates a landlord pandemic relief exemption. Provides that property is entitled to the exemption if: (1) the property is an income-producing property owned by a qualified property owner; (2) the property was subject to Executive Order 2020-10 and each subsequent Executive Order issued by the Governor regarding ceasing eviction proceedings due to the COVID-19 pandemic; (3) the qualified property owner can demonstrate a financial burden due to the eviction moratorium; (4) the qualified property owner is liable for paying the real estate taxes on the property; and (5) the qualified property owner is an owner of record of the property or has a legal or equitable interest in the property, as evidenced by a written instrument. Provides that the exemption may not exceed $10,000 per property. Effective immediately.

HB 3526 - Zalewski - Amends the State Finance Act. Creates the Property Tax Appeal Board Supplemental Fund. Amends the Property Tax Code. Provides that the Property Tax Appeal Board Supplemental Fund is created as a special fund in the State treasury. Provides that all filing fees collected by the Board in accordance with the Section shall be deposited into the Property Tax Appeal Board Supplemental Fund. Provides that all moneys in the Property Tax Appeal Board Supplemental Fund shall be appropriated to the Board, on an annual basis, to be used in enhancing the Board's operations, including, but not limited to, information technology initiatives, personnel, and office equipment for increasing the Board's efficiency in rendering final administrative decisions in a timely fashion.

HB 3529 - Zalewski - Please give me your comments on this bill. This is the latest attempt by the Cook County Assessor to place new and more burdensome reporting requirements on owners of income producing property. 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.

HB 3568 - Welter - Amends the Property Tax Code. Provides that the aggregate real property tax liability imposed on a qualified senior residence by a county or other taxing district shall not exceed 1.5% of the equalized assessed value of that property in any taxable year. Defines "qualified senior residence", "taxable year", and "equalized assessed value".

HB 3588 - Carroll - Please give me your comments on this change to the definition of investment partnership. 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.

HB 3600 - Batinick - Creates the Taxing Body Refinancing by Popular Vote Act. Provides that no taxing district may renew or refinance its indebtedness in a way that requires the extension of property taxes for the payment of debt service in a taxable year that is later than the taxable year in which the indebtedness would otherwise mature unless the question of such renewal or refinancing is submitted to the electors of the district at a regular election and approved by a majority of the electors voting on the question.

HB 3601 - Batinick - Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that a taxing district shall reduce its aggregate extension base for the purpose of lowering its limiting rate for future years upon referendum approval initiated by the submission of a petition by the voters of the district. Effective immediately.

HB 3602 - Batinick - Amends the Property Tax Code. Provides that, for levy years 2018 through 2021, the Property Tax Extension Limitation Law applies to all taxing districts, including home rule units. Provides that, for levy years 2018 through 2021, the extension limitation under the Property Tax Extension Limitation Law is 0% or the rate of increase approved by the voters. Provides that, for taxing districts that became subject to the Law as a result of the amendatory Act, "aggregate extension" does not include special purpose extensions made for the payment of principal and interest on bonds or other evidences of indebtedness issued by the taxing district prior to the effective date of the amendatory Act. Provides that taxing districts may provide for the continuation of the amendatory Act for up to 4 years upon referendum approval. Provides that the voters of the taxing district may require a reduction in the taxing district's aggregate extension base by referendum. Preempts home rule. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

HB 3603 - Batinick - Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that the extension limitation is 3.5% (currently, 5%) or the percentage increase in the Consumer Price Index. Provides that the Property Tax Extension Limitation Law applies to all taxing districts, including home rule units.

HB 3604 - Batinick - Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that the limiting rate shall be calculated using the highest aggregate extension from any year in which the taxing district was subject to the Property Tax Extension Limitation Law (currently, the last 3 preceding levy years). Provides that an aggregate extension established for a levy year in which the taxing district was authorized to temporarily increase its limiting rate or its extension limitation may not be used.

HB 3636 - Bennett - Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that the term "selling price" does not include the value of or credit given for traded-in tangible personal property (currently, beginning on January 1, 2020, with respect to motor vehicles, "selling price" does include the trade-in value). Effective immediately.

HB 3673 - Greenwood - Amends the Property Tax Code. Provides that a taxing district may abate a portion of its taxes on property upon which affordable housing has been or will be constructed in a development mixed with commercial property. Provides that the value of the abatement may not exceed $500,000.

HB 3683 - McLaughlin - Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that the limiting rate shall be calculated using the highest aggregate extension from any year in which the taxing district was subject to the Property Tax Extension Limitation Law (currently, the last 3 preceding levy years). Provides that an aggregate extension established for a levy year in which the taxing district was authorized to temporarily increase its limiting rate or its extension limitation may not be used.

HB 3684 - McLaughlin - Amends the Property Tax Code. Provides that, for taxable years 2022 and thereafter, the maximum reduction is $10,000 in all counties. Effective immediately.

HB 3736 - Evans - Amends the Illinois Income Tax Act. Provides that the live theater production credit applies for tax years beginning prior to January 1, 2029 (currently, January 1, 2022). Amends the Live Theater Production Tax Credit Act. Includes commercial Broadway touring productions in the list of accredited productions. Increases the maximum aggregate credit amount from $2,000,000 per fiscal year to $4,000,000 per fiscal year. Provides that, beginning in State fiscal year 2021, $2,000,000 of the $4,000,000 cap shall be reserved for applicants that are operators of qualified production facilities solely in connection with the presentation of commercial Broadway touring shows. Effective immediately.

HB 3742 - Hernandez - Amends the Illinois Income Tax Act. Provides that the credit for student assistance contributions sunsets on December 30, 2027 (instead of December 30, 2021). Provides that the credit for student-assistance contributions may not exceed $1,000 (currently, $500) per contributing employee per taxable year. Effective immediately.

HB 3771 - Ortiz - Amends the Property Tax Code. Provides that qualified property that is owned by the surviving spouse of a fallen police officer, soldier, or rescue worker is exempt from taxation under the Code (currently, the governing body of a county or municipality may order the county clerk to abate those taxes). Effective immediately.

HB 3774 - Rohr - Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, for levy years 2021 and later, for school districts, the "aggregate extension base" is the greater of (A) the district's last preceding aggregate extension limit or (B) the district's last preceding aggregate extension, subject to certain adjustments. Provides that the term "aggregate extension limit" means the district's last preceding aggregate extension if the taxing district had utilized the maximum limiting rate permitted without referendum for each of the 3 immediately preceding levy years. Effective immediately.

HB 3781 - Didech - Amends the Property Tax Code. Provides that, in a county with 3,000,000 or more inhabitants, a person filing a tax objection complaint shall serve a copy of the tax objection complaint by electronic mail upon the applicable municipality and the school district. Provides that an objection to an assessment shall not be allowed by the court in a county with 3,000,000 or more inhabitants if the person paying the taxes is unable to provide written evidence to the State's Attorney that a copy of the tax objection complaint was served on the municipality and the school district. Provides that, if an objection is made claiming incorrect valuation, the complaint shall specify the current assessment and the assessment alleged by the plaintiff to be correct. Provides that, when a taxing district has intervened in a tax objection proceeding and filed its appearance, compromise agreements shall not be accepted by the court over the objection of the intervening taxing district.

HB 3782 - Didech - Amends the Property Tax Code. Provides that no certificate of error shall be issued without the chief county assessment officer first having given all affected taxing districts 30 days' written notice. Provides that taxing districts may seek a judicial determination as to the exempt status of property.

HB 3797 - Stephens - Amends the Property Tax Code. Provides that the surviving spouse of a fallen police officer, soldier, or rescue worker who meets certain income limitations is eligible for an assessment freeze. Effective immediately.

HB 3824 - DeLuca - Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, for the 2022 and 2023 levy year, the term "taxing district" means all taxing districts in the State, including home rule units, but does not include a taxing district with a population of less than 25,000, unless that taxing district was subject to the Property Tax Extension Limitation Law on the effective date of the amendatory Act or was made subject to the Law by referendum. Provides that, for the 2022 and 2023 levy year, the extension limitation is 0% or the rate of increase approved by the voters. Limits home rule powers. Effective immediately.

HB 3836 - LaPointe - Amends the Property Tax Code. Provides that the notice of judgment and sale shall also be sent by first class mail (currently, registered or certified mail only). Provides that, if any notice is returned as undeliverable and includes an updated mailing address, the county collector shall mail a second notice to the new address. Provides that the collector shall collect $30 (currently, $10) from each tax purchaser prior to the issuance of any certificate of purchase to cover the costs of mailing. Effective January 1, 2022.

HB 3838 - LaPointe - Amends the Illinois Income Tax Act. Provides that the credit for student-assistance contributions sunsets on December 31, 2031 (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.

HB 3880 - DeLuca - This is a bad idea that we will oppose. Amends the Illinois Municipal Code. Provides that a municipality may, by ordinance, provide that its use and occupation taxes shall be collected and enforced by the municipality (currently, the Department of Revenue). Provides that, if the tax is collected and enforced by the municipality, none of the proceeds collected from the tax shall be transferred into the Tax Compliance and Administration Fund. Effective immediately.

HB 3888 - Meyers-Martin - Amends the Property Tax Code. Provides that, for the 2022 taxable year and thereafter, in all counties, property shall be valued at the lesser of (i) its base year value, compounded annually since the base year by an inflation factor, which shall be the percentage change for the prior calendar year in the Consumer Price Index, but not to exceed 2% of the prior year's value, plus the value of any improvements to the property, and (ii) its full cash value, as defined in Section 1-50, taking into account reductions in value due to damage, destruction, depreciation, obsolescence, removal of property, or other factors causing a decline in value. Provides that "base value" means the higher of (i) the amount for which the property was last sold at an arms-length transaction or (ii) the fair cash value of the property as of the date of its last change of ownership. Effective immediately.

HB 3894 - Harper - 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.

HB 3900 - Lilly - Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2021, there shall be allowed as an income tax credit for the taxable year with respect to each child of the taxpayer who is under the age of 17 and for whom the taxpayer is allowed an additional exemption under specified provisions an amount equal to $100. Provides that the amount of 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. Provides that a credit shall not reduce the taxpayer's liability to less than zero. Effective immediately.

HB 3912 - Weber - Amends the Property Tax Code. Provides that, upon a resolution passed by the county board, if a person has been granted the homestead exemption for veterans with disabilities or the senior citizens assessment freeze homestead exemption, then the person qualifying need not reapply for the exemption. Provides that the resolution may contain any criteria deemed necessary to ensure that the qualification requirements for the exemption allowed under this Section are met by the applicant or can be reasonably believed to be met by the applicant in any subsequent tax year or years. Effective immediately.

HB 3927 - Bennett - Amends the Illinois Income Tax Act. Creates an income tax credit for Illinois licensed wine manufacturers and craft brewers in an amount equal to 50% of the qualified costs incurred by a qualified taxpayer during the taxable year, not to exceed $1,500. Provides that the tax credit shall be awarded on the basis of costs related to the purchase of crops used in the manufacture of beer or wine that are grown and harvested in Illinois. Defines terms. Effective immediately.

HB 3930 - McCombie - Amends the Property Tax Code. In provisions concerning the homestead exemption for veterans with disabilities, provides that an otherwise qualified residence that is located upon 2 adjacent parcels in 2 different townships is entitled to the exemption. Provides that a portion of the maximum exemption amount shall be applied to each parcel according to each parcel's share of the total assessed value of the property. Effective immediately.

HB 3935 - McCombie - This is an Illinois Chamber of Commerce Tax Institute initiative. Amends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year in the base period (instead of 100% of the average of the qualifying expenditures for each year in the base period). Provides that the research and development credit applies on a permanent basis. Effective immediately.

HB 3954 - Avelar - Amends the Property Tax Code. Provides that, if property qualifies for the senior citizens homestead exemption, but the property owner fails to apply for the exemption during the application period, then the property owner may apply to any or all of the taxing districts in which the property is located to receive a refund of that taxing district's share of the excess property taxes extended against the property as a result of the failure to apply the exemption. Effective immediately.

HB 3965 - Evans - Amends the Property Tax Code. Provides that each county shall implement a special assessment program to reduce the equalized value for affordable rental housing construction or rehabilitation. Effective immediately.

HB 3967 - Mayfield - Creates the Energy Community Reinvestment Act. Provides that the Department of Commerce and Economic Opportunity shall designate certain regions impacted by the decline of coal generation, gas generation, nuclear generation, and coal mining as Clean Energy Empowerment Zones. Creates the Energy Workforce Development Program and Energy Community Development Program. Creates the Clean Energy Empowerment Zone Tax Credit Act. Creates a tax credit for applicants operating a business in the State that hires a former energy worker or graduate or trainee from an equity-focused workforce training program designated by the Illinois Power Agency as a new employee. Creates a tax credit for applicants operating a renewable energy enterprise that proposes a project to create new jobs and invest in the development of a renewable energy production facility in a Clean Energy Empowerment Zone. Creates the Coal Severance Fee Act. Provides for a tax upon any person engaged in the business of severing or preparing coal for sale, profit, or commercial use if the coal is severed from a mine located in the State. Amends the Illinois Administrative Procedure Act to allow for emergency rulemaking. Amends the State Finance Act to create the Energy Community Reinvestment Fund. Amends the Illinois Income Tax Act, the Public Utilities Act, the Environmental Protection Act, and the Illinois Nuclear Facility Safety Act by making changes to implement certain programs. Effective immediately.

SB 279 - Bryant - Amends the Illinois Income Tax Act. Creates an income tax credit to taxpayers that own and operate a small farm and make a qualifying food commodity donation to a food bank or emergency feeding organization. Provides that the credit shall be equal to the lesser of $5,000 or 15% of the value of the food commodity donated. Effective immediately.

SB 330 - Feigenholtz - 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 Property Tax Code. Provides for a reduction in assessed value for affordable rental housing construction or rehabilitation. Effective immediately.

SB 340 - Hunter - Amends the Illinois Income Tax Act. Provides that the credit for student-assistance contributions sunsets on December 31, 2031 (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.