Illinois Senate Bill 3607

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-04-05 - Rule 2-10 Committee Deadline Established As May 3, 2024
Pending: Senate Revenue Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Creates an income tax credit for developers that invest in a qualified project redeveloping a brownfield or grayfield. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Creates an exemption for tangible personal property that is purchased by a developer who has been awarded a certificate of exemption by the Department of Commerce and Economic Opportunity and that is used to rehabilitate brownfield or grayfield property. Effective immediately.

INC TX-BROWNFIELD

Sen. Michael Halpin [D]

Date	Chamber	Action
2024-04-05	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024
2024-03-15	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
2024-02-20	Senate	Assigned to Revenue
2024-02-09	Senate	Referred to Assignments
2024-02-09	Senate	First Reading
2024-02-09	Senate	Filed with Secretary by Sen. Michael W. Halpin

Chapter	Article	Section	Citation Type	Statute Text
35	105	3-5	Amended Code	Citation Text
35	110	3-5	Amended Code	Citation Text
35	115	3-5	Amended Code	Citation Text
35	120	2-5	Amended Code	Citation Text
35	5	241	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3607&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB3607.htm