IL HB3565 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 17 2023 - 25% progression
Action: 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Code. Provides that certain property may be certified by the Department of Revenue as containing a mega project. Provides that a "mega project" is a project with respect to which a company makes a specified investment during a specified investment period. Provides that the mega project property is eligible for an assessment freeze. Provides that mega project property may be granted an abatement. Provides that a company that operates a mega project shall enter into an agreement with the municipality in which the project is located to make certain special payments. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that qualified tangible personal property used in the construction or operation of a mega project is exempt from the taxes imposed under those Acts. Effective June 1, 2023.

Tracking Information

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Title

REVENUE-MEGA PROJECTS

Sponsors


History

DateChamberAction
2023-03-10HouseRule 19(a) / Re-referred to Rules Committee
2023-03-09HouseTo Revenue - Property Tax Subcommittee
2023-02-28HouseAssigned to Revenue & Finance Committee
2023-02-17HouseReferred to Rules Committee
2023-02-17HouseFirst Reading
2023-02-17HouseFiled with the Clerk by Rep. Mark L. Walker

Code Citations

ChapterArticleSectionCitation TypeStatute Text
351053-5Amended CodeCitation Text
351103-5Amended CodeCitation Text
351153-5Amended CodeCitation Text
351202-5Amended CodeCitation Text
3520010-22New CodeSee Bill Text
3520010-900New CodeSee Bill Text
3520010-910New CodeSee Bill Text
3520010-915New CodeSee Bill Text
3520010-920New CodeSee Bill Text
3520010-925New CodeSee Bill Text
3520010-930New CodeSee Bill Text
3520010-935New CodeSee Bill Text
3520010-937New CodeSee Bill Text
3520010-940New CodeSee Bill Text
3520010-945New CodeSee Bill Text
3520010-950New CodeSee Bill Text
3520010-955New CodeSee Bill Text
3520010-960New CodeSee Bill Text
3520010-965New CodeSee Bill Text
3520010-970New CodeSee Bill Text
3520010-980New CodeSee Bill Text
3520010-990New CodeSee Bill Text

Illinois State Sources


Bill Comments

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