Illinois House Bill 2832

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 5 2025 - 25% progression
Action: 2025-02-06 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Short Line Railroad Infrastructure Modernization Act. Provides that (i) any railroad company that is located wholly or partly within the State and that is classified by the United States Surface Transportation Board as a Class II or a Class III railroad and (ii) any owner or lessee of a rail siding, industrial spur, or industry track located on or adjacent to any railroad in the State may apply to the Department of Transportation for an income tax credit. Provides that the amount of the credit shall be equal to 50% of the qualified railroad reconstruction or replacement expenditures incurred by the eligible taxpayer during the taxable year, but not to exceed certain specified limitations. Provides that the credit may be transferred to an eligible transferee. Amends the Freedom of Information Act and the Illinois Income Tax Act to make conforming changes. Effective immediately.

SHORT LINE RAILROAD ACT

Rep. Charles Meier [R]

Date	Chamber	Action
2025-02-06	House	Referred to Rules Committee
2025-02-06	House	First Reading
2025-02-05	House	Filed with the Clerk by Rep. Charles Meier

Chapter	Article	Section	Citation Type	Statute Text
35	5	246	New Code	See Bill Text
5	140	7.5	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2832&GAID=18&DocTypeID=HB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/HB/10400HB2832.htm