IL SB1711 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 9 2023 - 25% progression
Action: 2023-04-28 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Creates the Hydrogen Fuel Replacement Tax Credit Act. Creates an income tax credit for eligible taxpayers in an amount equal to $1 per kilogram of eligible zero-carbon hydrogen used by the eligible taxpayer during the tax year for which a credit is sought. Provides for additional credits if the use of the zero-carbon hydrogen by the eligible taxpayer occurs in an equity investment eligible community. Provides that the total amount of tax credits to be allocated by the Department of Revenue to taxpayers for eligible zero-carbon hydrogen use occurring in the tax year ending during that State fiscal year shall not exceed $100,000,000, plus the amount of tax credits that were available to be allocated for eligible zero-carbon hydrogen use in the tax year ending during the prior State fiscal year but were not allocated. Effective immediately.

Tracking Information

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Title

REVENUE-HYDROGEN FUEL CREDIT

Sponsors


History

DateChamberAction
2023-04-28SenateRule 3-9(a) / Re-referred to Assignments
2023-03-31SenateRule 2-10(a) Third Reading Deadline Established As April 28, 2023
2023-03-28SenatePlaced on Calendar Order of 3rd Reading March 29, 2023
2023-03-28SenateSecond Reading
2023-03-10SenateAdded as Chief Co-Sponsor Sen. Sue Rezin
2023-03-09SenatePlaced on Calendar Order of 2nd Reading March 10, 2023
2023-03-09SenateDo Pass Energy and Public Utilities; 017-000-000
2023-03-08SenateWaive Posting Notice
2023-03-07SenateChief Sponsor Changed to Sen. David Koehler
2023-02-28SenateAssigned to Energy and Public Utilities
2023-02-23SenateAdded as Co-Sponsor Sen. Rachel Ventura
2023-02-09SenateReferred to Assignments
2023-02-09SenateFirst Reading
2023-02-09SenateFiled with Secretary by Sen. Laura Ellman

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355240New CodeSee Bill Text

Illinois State Sources


Bill Comments

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