Bill Status of SB 1350   103rd General Assembly

Short Description:  REVENUE-MEGA PROJECTS

Senate Sponsors
Sen. Don Harmon, Seth Lewis, Donald P. DeWitte, Sue Rezin, John F. Curran and Dan McConchie

Last Action  View All Actions

DateChamber Action
  2/6/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 105/3-5
35 ILCS 110/3-5
35 ILCS 115/3-5
35 ILCS 120/2-5
35 ILCS 200/Art. 10 Div. 22 heading new
35 ILCS 200/10-900 new
35 ILCS 200/10-910 new
35 ILCS 200/10-915 new
35 ILCS 200/10-920 new
35 ILCS 200/10-925 new
35 ILCS 200/10-930 new
35 ILCS 200/10-935 new
35 ILCS 200/10-937 new
35 ILCS 200/10-940 new
35 ILCS 200/10-945 new
35 ILCS 200/10-950 new
35 ILCS 200/10-955 new
35 ILCS 200/10-960 new
35 ILCS 200/10-965 new
35 ILCS 200/10-970 new
35 ILCS 200/10-980 new
35 ILCS 200/10-990 new

Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/6/2023SenateFiled with Secretary by Sen. Ann Gillespie
  2/6/2023SenateFirst Reading
  2/6/2023SenateReferred to Assignments
  2/22/2023SenateAdded as Co-Sponsor Sen. Meg Loughran Cappel
  2/23/2023SenateSponsor Removed Sen. Meg Loughran Cappel
  4/20/2023SenateAdded as Co-Sponsor Sen. Seth Lewis
  4/20/2023SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
  4/20/2023SenateAdded as Co-Sponsor Sen. Sue Rezin
  4/20/2023SenateAdded as Co-Sponsor Sen. John F. Curran
  4/21/2023SenateAdded as Co-Sponsor Sen. Dan McConchie
  4/15/2024SenateChief Sponsor Changed to Sen. Don Harmon

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