Bill Title: 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.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Introduced) 2023-04-28 - Rule 3-9(a) / Re-referred to Assignments [SB1711 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-09	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB1711

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1711 currently on file.

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