Bill Status of SB 3607   103rd General Assembly

Short Description:  INC TX-BROWNFIELD

Senate Sponsors
Sen. Michael W. Halpin

Last Action  View All Actions

DateChamber Action
  5/3/2024SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/241 new
35 ILCS 105/3-5
35 ILCS 110/3-5
35 ILCS 115/3-5
35 ILCS 120/2-5

Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/9/2024SenateFiled with Secretary by Sen. Michael W. Halpin
  2/9/2024SenateFirst Reading
  2/9/2024SenateReferred to Assignments
  2/20/2024SenateAssigned to Revenue
  3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024
  4/5/2024SenateRule 2-10 Committee Deadline Established As May 3, 2024
  5/3/2024SenateRule 3-9(a) / Re-referred to Assignments

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