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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| AN ACT concerning environmental protection.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Income Tax Act is amended by |
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| changing Section 201 as follows:
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| (35 ILCS 5/201) (from Ch. 120, par. 2-201)
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| Sec. 201. Tax Imposed.
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| (a) In general. A tax measured by net income is hereby |
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| imposed on every
individual, corporation, trust and estate for |
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| each taxable year ending
after July 31, 1969 on the privilege |
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| of earning or receiving income in or
as a resident of this |
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| State. Such tax shall be in addition to all other
occupation or |
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| privilege taxes imposed by this State or by any municipal
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| corporation or political subdivision thereof.
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| (b) Rates. The tax imposed by subsection (a) of this |
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| Section shall be
determined as follows, except as adjusted by |
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| subsection (d-1):
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| (1) In the case of an individual, trust or estate, for |
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| taxable years
ending prior to July 1, 1989, an amount equal |
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| to 2 1/2% of the taxpayer's
net income for the taxable |
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| year.
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| (2) In the case of an individual, trust or estate, for |
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| taxable years
beginning prior to July 1, 1989 and ending |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| after June 30, 1989, an amount
equal to the sum of (i) 2 |
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| 1/2% of the taxpayer's net income for the period
prior to |
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| July 1, 1989, as calculated under Section 202.3, and (ii) |
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| 3% of the
taxpayer's net income for the period after June |
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| 30, 1989, as calculated
under Section 202.3.
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| (3) In the case of an individual, trust or estate, for |
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| taxable years
beginning after June 30, 1989, an amount |
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| equal to 3% of the taxpayer's net
income for the taxable |
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| year.
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| (4) (Blank).
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| (5) (Blank).
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| (6) In the case of a corporation, for taxable years
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| ending prior to July 1, 1989, an amount equal to 4% of the
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| taxpayer's net income for the taxable year.
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| (7) In the case of a corporation, for taxable years |
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| beginning prior to
July 1, 1989 and ending after June 30, |
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| 1989, an amount equal to the sum of
(i) 4% of the |
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| taxpayer's net income for the period prior to July 1, 1989,
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| as calculated under Section 202.3, and (ii) 4.8% of the |
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| taxpayer's net
income for the period after June 30, 1989, |
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| as calculated under Section
202.3.
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| (8) In the case of a corporation, for taxable years |
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| beginning after
June 30, 1989, an amount equal to 4.8% of |
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| the taxpayer's net income for the
taxable year.
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| (c) Personal Property Tax Replacement Income Tax.
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| Beginning on July 1, 1979 and thereafter, in addition to such |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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|
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| income
tax, there is also hereby imposed the Personal Property |
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| Tax Replacement
Income Tax measured by net income on every |
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| corporation (including Subchapter
S corporations), partnership |
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| and trust, for each taxable year ending after
June 30, 1979. |
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| Such taxes are imposed on the privilege of earning or
receiving |
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| income in or as a resident of this State. The Personal Property
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| Tax Replacement Income Tax shall be in addition to the income |
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| tax imposed
by subsections (a) and (b) of this Section and in |
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| addition to all other
occupation or privilege taxes imposed by |
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| this State or by any municipal
corporation or political |
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| subdivision thereof.
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| (d) Additional Personal Property Tax Replacement Income |
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| Tax Rates.
The personal property tax replacement income tax |
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| imposed by this subsection
and subsection (c) of this Section |
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| in the case of a corporation, other
than a Subchapter S |
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| corporation and except as adjusted by subsection (d-1),
shall |
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| be an additional amount equal to
2.85% of such taxpayer's net |
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| income for the taxable year, except that
beginning on January |
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| 1, 1981, and thereafter, the rate of 2.85% specified
in this |
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| subsection shall be reduced to 2.5%, and in the case of a
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| partnership, trust or a Subchapter S corporation shall be an |
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| additional
amount equal to 1.5% of such taxpayer's net income |
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| for the taxable year.
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| (d-1) Rate reduction for certain foreign insurers. In the |
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| case of a
foreign insurer, as defined by Section 35A-5 of the |
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| Illinois Insurance Code,
whose state or country of domicile |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| imposes on insurers domiciled in Illinois
a retaliatory tax |
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| (excluding any insurer
whose premiums from reinsurance assumed |
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| are 50% or more of its total insurance
premiums as determined |
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| under paragraph (2) of subsection (b) of Section 304,
except |
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| that for purposes of this determination premiums from |
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| reinsurance do
not include premiums from inter-affiliate |
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| reinsurance arrangements),
beginning with taxable years ending |
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| on or after December 31, 1999,
the sum of
the rates of tax |
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| imposed by subsections (b) and (d) shall be reduced (but not
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| increased) to the rate at which the total amount of tax imposed |
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| under this Act,
net of all credits allowed under this Act, |
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| shall equal (i) the total amount of
tax that would be imposed |
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| on the foreign insurer's net income allocable to
Illinois for |
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| the taxable year by such foreign insurer's state or country of
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| domicile if that net income were subject to all income taxes |
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| and taxes
measured by net income imposed by such foreign |
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| insurer's state or country of
domicile, net of all credits |
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| allowed or (ii) a rate of zero if no such tax is
imposed on such |
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| income by the foreign insurer's state of domicile.
For the |
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| purposes of this subsection (d-1), an inter-affiliate includes |
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| a
mutual insurer under common management.
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| (1) For the purposes of subsection (d-1), in no event |
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| shall the sum of the
rates of tax imposed by subsections |
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| (b) and (d) be reduced below the rate at
which the sum of:
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| (A) the total amount of tax imposed on such foreign |
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| insurer under
this Act for a taxable year, net of all |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| credits allowed under this Act, plus
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| (B) the privilege tax imposed by Section 409 of the |
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| Illinois Insurance
Code, the fire insurance company |
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| tax imposed by Section 12 of the Fire
Investigation |
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| Act, and the fire department taxes imposed under |
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| Section 11-10-1
of the Illinois Municipal Code,
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| equals 1.25% for taxable years ending prior to December 31, |
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| 2003, or
1.75% for taxable years ending on or after |
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| December 31, 2003, of the net
taxable premiums written for |
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| the taxable year,
as described by subsection (1) of Section |
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| 409 of the Illinois Insurance Code.
This paragraph will in |
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| no event increase the rates imposed under subsections
(b) |
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| and (d).
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| (2) Any reduction in the rates of tax imposed by this |
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| subsection shall be
applied first against the rates imposed |
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| by subsection (b) and only after the
tax imposed by |
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| subsection (a) net of all credits allowed under this |
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| Section
other than the credit allowed under subsection (i) |
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| has been reduced to zero,
against the rates imposed by |
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| subsection (d).
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| This subsection (d-1) is exempt from the provisions of |
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| Section 250.
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| (e) Investment credit. A taxpayer shall be allowed a credit
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| against the Personal Property Tax Replacement Income Tax for
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| investment in qualified property.
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| (1) A taxpayer shall be allowed a credit equal to .5% |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| of
the basis of qualified property placed in service during |
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| the taxable year,
provided such property is placed in |
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| service on or after
July 1, 1984. There shall be allowed an |
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| additional credit equal
to .5% of the basis of qualified |
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| property placed in service during the
taxable year, |
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| provided such property is placed in service on or
after |
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| July 1, 1986, and the taxpayer's base employment
within |
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| Illinois has increased by 1% or more over the preceding |
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| year as
determined by the taxpayer's employment records |
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| filed with the
Illinois Department of Employment Security. |
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| Taxpayers who are new to
Illinois shall be deemed to have |
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| met the 1% growth in base employment for
the first year in |
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| which they file employment records with the Illinois
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| Department of Employment Security. The provisions added to |
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| this Section by
Public Act 85-1200 (and restored by Public |
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| Act 87-895) shall be
construed as declaratory of existing |
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| law and not as a new enactment. If,
in any year, the |
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| increase in base employment within Illinois over the
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| preceding year is less than 1%, the additional credit shall |
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| be limited to that
percentage times a fraction, the |
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| numerator of which is .5% and the denominator
of which is |
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| 1%, but shall not exceed .5%. The investment credit shall |
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| not be
allowed to the extent that it would reduce a |
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| taxpayer's liability in any tax
year below zero, nor may |
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| any credit for qualified property be allowed for any
year |
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| other than the year in which the property was placed in |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| service in
Illinois. For tax years ending on or after |
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| December 31, 1987, and on or
before December 31, 1988, the |
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| credit shall be allowed for the tax year in
which the |
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| property is placed in service, or, if the amount of the |
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| credit
exceeds the tax liability for that year, whether it |
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| exceeds the original
liability or the liability as later |
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| amended, such excess may be carried
forward and applied to |
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| the tax liability of the 5 taxable years following
the |
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| excess credit years if the taxpayer (i) makes investments |
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| which cause
the creation of a minimum of 2,000 full-time |
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| equivalent jobs in Illinois,
(ii) is located in an |
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| enterprise zone established pursuant to the Illinois
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| Enterprise Zone Act and (iii) is certified by the |
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| Department of Commerce
and Community Affairs (now |
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| Department of Commerce and Economic Opportunity) as |
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| complying with the requirements specified in
clause (i) and |
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| (ii) by July 1, 1986. The Department of Commerce and
|
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| Community Affairs (now Department of Commerce and Economic |
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| Opportunity) shall notify the Department of Revenue of all |
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| such
certifications immediately. For tax years ending |
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| after December 31, 1988,
the credit shall be allowed for |
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| the tax year in which the property is
placed in service, |
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| or, if the amount of the credit exceeds the tax
liability |
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| for that year, whether it exceeds the original liability or |
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| the
liability as later amended, such excess may be carried |
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| forward and applied
to the tax liability of the 5 taxable |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| years following the excess credit
years. The credit shall |
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| be applied to the earliest year for which there is
a |
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| liability. If there is credit from more than one tax year |
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| that is
available to offset a liability, earlier credit |
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| shall be applied first.
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| (2) The term "qualified property" means property |
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| which:
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| (A) is tangible, whether new or used, including |
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| buildings and structural
components of buildings and |
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| signs that are real property, but not including
land or |
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| improvements to real property that are not a structural |
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| component of a
building such as landscaping, sewer |
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| lines, local access roads, fencing, parking
lots, and |
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| other appurtenances;
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| (B) is depreciable pursuant to Section 167 of the |
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| Internal Revenue Code,
except that "3-year property" |
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| as defined in Section 168(c)(2)(A) of that
Code is not |
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| eligible for the credit provided by this subsection |
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| (e);
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| (C) is acquired by purchase as defined in Section |
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| 179(d) of
the Internal Revenue Code;
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| (D) is used in Illinois by a taxpayer who is |
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| primarily engaged in
manufacturing, or in mining coal |
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| or fluorite, or in retailing, or was placed in service |
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| on or after July 1, 2006 in a River Edge Redevelopment |
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| Zone established pursuant to the River Edge |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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|
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| Redevelopment Zone Act; and
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| (E) has not previously been used in Illinois in |
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| such a manner and by
such a person as would qualify for |
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| the credit provided by this subsection
(e) or |
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| subsection (f).
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| (3) For purposes of this subsection (e), |
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| "manufacturing" means
the material staging and production |
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| of tangible personal property by
procedures commonly |
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| regarded as manufacturing, processing, fabrication, or
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| assembling which changes some existing material into new |
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| shapes, new
qualities, or new combinations. For purposes of |
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| this subsection
(e) the term "mining" shall have the same |
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| meaning as the term "mining" in
Section 613(c) of the |
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| Internal Revenue Code. For purposes of this subsection
(e), |
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| the term "retailing" means the sale of tangible personal |
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| property or
services rendered in conjunction with the sale |
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| of tangible consumer goods
or commodities.
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| (4) The basis of qualified property shall be the basis
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| used to compute the depreciation deduction for federal |
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| income tax purposes.
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| (5) If the basis of the property for federal income tax |
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| depreciation
purposes is increased after it has been placed |
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| in service in Illinois by
the taxpayer, the amount of such |
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| increase shall be deemed property placed
in service on the |
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| date of such increase in basis.
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| (6) The term "placed in service" shall have the same
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| meaning as under Section 46 of the Internal Revenue Code.
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| (7) If during any taxable year, any property ceases to
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| be qualified property in the hands of the taxpayer within |
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| 48 months after
being placed in service, or the situs of |
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| any qualified property is
moved outside Illinois within 48 |
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| months after being placed in service, the
Personal Property |
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| Tax Replacement Income Tax for such taxable year shall be
|
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| increased. Such increase shall be determined by (i) |
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| recomputing the
investment credit which would have been |
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| allowed for the year in which
credit for such property was |
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| originally allowed by eliminating such
property from such |
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| computation and, (ii) subtracting such recomputed credit
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| from the amount of credit previously allowed. For the |
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| purposes of this
paragraph (7), a reduction of the basis of |
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| qualified property resulting
from a redetermination of the |
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| purchase price shall be deemed a disposition
of qualified |
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| property to the extent of such reduction.
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| (8) Unless the investment credit is extended by law, |
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| the
basis of qualified property shall not include costs |
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| incurred after
December 31, 2008, except for costs incurred |
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| pursuant to a binding
contract entered into on or before |
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| December 31, 2008.
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| (9) Each taxable year ending before December 31, 2000, |
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| a partnership may
elect to pass through to its
partners the |
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| credits to which the partnership is entitled under this |
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| subsection
(e) for the taxable year. A partner may use the |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| credit allocated to him or her
under this paragraph only |
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| against the tax imposed in subsections (c) and (d) of
this |
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| Section. If the partnership makes that election, those |
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| credits shall be
allocated among the partners in the |
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| partnership in accordance with the rules
set forth in |
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| Section 704(b) of the Internal Revenue Code, and the rules
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| promulgated under that Section, and the allocated amount of |
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| the credits shall
be allowed to the partners for that |
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| taxable year. The partnership shall make
this election on |
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| its Personal Property Tax Replacement Income Tax return for
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| that taxable year. The election to pass through the credits |
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| shall be
irrevocable.
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| For taxable years ending on or after December 31, 2000, |
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| a
partner that qualifies its
partnership for a subtraction |
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| under subparagraph (I) of paragraph (2) of
subsection (d) |
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| of Section 203 or a shareholder that qualifies a Subchapter |
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| S
corporation for a subtraction under subparagraph (S) of |
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| paragraph (2) of
subsection (b) of Section 203 shall be |
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| allowed a credit under this subsection
(e) equal to its |
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| share of the credit earned under this subsection (e) during
|
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| the taxable year by the partnership or Subchapter S |
22 |
| corporation, determined in
accordance with the |
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| determination of income and distributive share of
income |
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| under Sections 702 and 704 and Subchapter S of the Internal |
25 |
| Revenue
Code. This paragraph is exempt from the provisions |
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| of Section 250.
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| (f) Investment credit; Enterprise Zone; River Edge |
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| Redevelopment Zone.
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| (1) A taxpayer shall be allowed a credit against the |
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| tax imposed
by subsections (a) and (b) of this Section for |
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| investment in qualified
property which is placed in service |
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| in an Enterprise Zone created
pursuant to the Illinois |
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| Enterprise Zone Act or, for property placed in service on |
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| or after July 1, 2006, a River Edge Redevelopment Zone |
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| established pursuant to the River Edge Redevelopment Zone |
10 |
| Act. For partners, shareholders
of Subchapter S |
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| corporations, and owners of limited liability companies,
|
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| if the liability company is treated as a partnership for |
13 |
| purposes of
federal and State income taxation, there shall |
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| be allowed a credit under
this subsection (f) to be |
15 |
| determined in accordance with the determination
of income |
16 |
| and distributive share of income under Sections 702 and 704 |
17 |
| and
Subchapter S of the Internal Revenue Code. The credit |
18 |
| shall be .5% of the
basis for such property. The credit |
19 |
| shall be available only in the taxable
year in which the |
20 |
| property is placed in service in the Enterprise Zone or |
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| River Edge Redevelopment Zone and
shall not be allowed to |
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| the extent that it would reduce a taxpayer's
liability for |
23 |
| the tax imposed by subsections (a) and (b) of this Section |
24 |
| to
below zero. For tax years ending on or after December |
25 |
| 31, 1985, the credit
shall be allowed for the tax year in |
26 |
| which the property is placed in
service, or, if the amount |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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| of the credit exceeds the tax liability for that
year, |
2 |
| whether it exceeds the original liability or the liability |
3 |
| as later
amended, such excess may be carried forward and |
4 |
| applied to the tax
liability of the 5 taxable years |
5 |
| following the excess credit year.
The credit shall be |
6 |
| applied to the earliest year for which there is a
|
7 |
| liability. If there is credit from more than one tax year |
8 |
| that is available
to offset a liability, the credit |
9 |
| accruing first in time shall be applied
first.
|
10 |
| (2) The term qualified property means property which:
|
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| (A) is tangible, whether new or used, including |
12 |
| buildings and
structural components of buildings;
|
13 |
| (B) is depreciable pursuant to Section 167 of the |
14 |
| Internal Revenue
Code, except that "3-year property" |
15 |
| as defined in Section 168(c)(2)(A) of
that Code is not |
16 |
| eligible for the credit provided by this subsection |
17 |
| (f);
|
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| (C) is acquired by purchase as defined in Section |
19 |
| 179(d) of
the Internal Revenue Code;
|
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| (D) is used in the Enterprise Zone or River Edge |
21 |
| Redevelopment Zone by the taxpayer; and
|
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| (E) has not been previously used in Illinois in |
23 |
| such a manner and by
such a person as would qualify for |
24 |
| the credit provided by this subsection
(f) or |
25 |
| subsection (e).
|
26 |
| (3) The basis of qualified property shall be the basis |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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|
1 |
| used to compute
the depreciation deduction for federal |
2 |
| income tax purposes.
|
3 |
| (4) If the basis of the property for federal income tax |
4 |
| depreciation
purposes is increased after it has been placed |
5 |
| in service in the Enterprise
Zone or River Edge |
6 |
| Redevelopment Zone by the taxpayer, the amount of such |
7 |
| increase shall be deemed property
placed in service on the |
8 |
| date of such increase in basis.
|
9 |
| (5) The term "placed in service" shall have the same |
10 |
| meaning as under
Section 46 of the Internal Revenue Code.
|
11 |
| (6) If during any taxable year, any property ceases to |
12 |
| be qualified
property in the hands of the taxpayer within |
13 |
| 48 months after being placed
in service, or the situs of |
14 |
| any qualified property is moved outside the
Enterprise Zone |
15 |
| or River Edge Redevelopment Zone within 48 months after |
16 |
| being placed in service, the tax
imposed under subsections |
17 |
| (a) and (b) of this Section for such taxable year
shall be |
18 |
| increased. Such increase shall be determined by (i) |
19 |
| recomputing
the investment credit which would have been |
20 |
| allowed for the year in which
credit for such property was |
21 |
| originally allowed by eliminating such
property from such |
22 |
| computation, and (ii) subtracting such recomputed credit
|
23 |
| from the amount of credit previously allowed. For the |
24 |
| purposes of this
paragraph (6), a reduction of the basis of |
25 |
| qualified property resulting
from a redetermination of the |
26 |
| purchase price shall be deemed a disposition
of qualified |
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SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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|
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| property to the extent of such reduction.
|
2 |
| (7) There shall be allowed an additional credit equal |
3 |
| to 0.5% of the basis of qualified property placed in |
4 |
| service during the taxable year in a River Edge |
5 |
| Redevelopment Zone, provided such property is placed in |
6 |
| service on or after July 1, 2006, and the taxpayer's base |
7 |
| employment within Illinois has increased by 1% or more over |
8 |
| the preceding year as determined by the taxpayer's |
9 |
| employment records filed with the Illinois Department of |
10 |
| Employment Security. Taxpayers who are new to Illinois |
11 |
| shall be deemed to have met the 1% growth in base |
12 |
| employment for the first year in which they file employment |
13 |
| records with the Illinois Department of Employment |
14 |
| Security. If, in any year, the increase in base employment |
15 |
| within Illinois over the preceding year is less than 1%, |
16 |
| the additional credit shall be limited to that percentage |
17 |
| times a fraction, the numerator of which is 0.5% and the |
18 |
| denominator of which is 1%, but shall not exceed 0.5%.
|
19 |
| (g) Jobs Tax Credit; Enterprise Zone, River Edge |
20 |
| Redevelopment Zone, and Foreign Trade Zone or Sub-Zone.
|
21 |
| (1) A taxpayer conducting a trade or business in an |
22 |
| enterprise zone
or a High Impact Business designated by the |
23 |
| Department of Commerce and
Economic Opportunity or for |
24 |
| taxable years ending on or after December 31, 2006, in a |
25 |
| River Edge Redevelopment Zone conducting a trade or |
26 |
| business in a federally designated
Foreign Trade Zone or |
|
|
|
SB1243 Engrossed |
- 16 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| Sub-Zone shall be allowed a credit against the tax
imposed |
2 |
| by subsections (a) and (b) of this Section in the amount of |
3 |
| $500
per eligible employee hired to work in the zone during |
4 |
| the taxable year.
|
5 |
| (2) To qualify for the credit:
|
6 |
| (A) the taxpayer must hire 5 or more eligible |
7 |
| employees to work in an
enterprise zone, River Edge |
8 |
| Redevelopment Zone, or federally designated Foreign |
9 |
| Trade Zone or Sub-Zone
during the taxable year;
|
10 |
| (B) the taxpayer's total employment within the |
11 |
| enterprise zone, River Edge Redevelopment Zone, or
|
12 |
| federally designated Foreign Trade Zone or Sub-Zone |
13 |
| must
increase by 5 or more full-time employees beyond |
14 |
| the total employed in that
zone at the end of the |
15 |
| previous tax year for which a jobs tax
credit under |
16 |
| this Section was taken, or beyond the total employed by |
17 |
| the
taxpayer as of December 31, 1985, whichever is |
18 |
| later; and
|
19 |
| (C) the eligible employees must be employed 180 |
20 |
| consecutive days in
order to be deemed hired for |
21 |
| purposes of this subsection.
|
22 |
| (3) An "eligible employee" means an employee who is:
|
23 |
| (A) Certified by the Department of Commerce and |
24 |
| Economic Opportunity
as "eligible for services" |
25 |
| pursuant to regulations promulgated in
accordance with |
26 |
| Title II of the Job Training Partnership Act, Training
|
|
|
|
SB1243 Engrossed |
- 17 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| Services for the Disadvantaged or Title III of the Job |
2 |
| Training Partnership
Act, Employment and Training |
3 |
| Assistance for Dislocated Workers Program.
|
4 |
| (B) Hired after the enterprise zone, River Edge |
5 |
| Redevelopment Zone, or federally designated Foreign
|
6 |
| Trade Zone or Sub-Zone was designated or the trade or
|
7 |
| business was located in that zone, whichever is later.
|
8 |
| (C) Employed in the enterprise zone, River Edge |
9 |
| Redevelopment Zone, or Foreign Trade Zone or
Sub-Zone. |
10 |
| An employee is employed in an
enterprise zone or |
11 |
| federally designated Foreign Trade Zone or Sub-Zone
if |
12 |
| his services are rendered there or it is the base of
|
13 |
| operations for the services performed.
|
14 |
| (D) A full-time employee working 30 or more hours |
15 |
| per week.
|
16 |
| (4) For tax years ending on or after December 31, 1985 |
17 |
| and prior to
December 31, 1988, the credit shall be allowed |
18 |
| for the tax year in which
the eligible employees are hired. |
19 |
| For tax years ending on or after
December 31, 1988, the |
20 |
| credit shall be allowed for the tax year immediately
|
21 |
| following the tax year in which the eligible employees are |
22 |
| hired. If the
amount of the credit exceeds the tax |
23 |
| liability for that year, whether it
exceeds the original |
24 |
| liability or the liability as later amended, such
excess |
25 |
| may be carried forward and applied to the tax liability of |
26 |
| the 5
taxable years following the excess credit year. The |
|
|
|
SB1243 Engrossed |
- 18 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| credit shall be
applied to the earliest year for which |
2 |
| there is a liability. If there is
credit from more than one |
3 |
| tax year that is available to offset a liability,
earlier |
4 |
| credit shall be applied first.
|
5 |
| (5) The Department of Revenue shall promulgate such |
6 |
| rules and regulations
as may be deemed necessary to carry |
7 |
| out the purposes of this subsection (g).
|
8 |
| (6) The credit shall be available for eligible |
9 |
| employees hired on or
after January 1, 1986.
|
10 |
| (h) Investment credit; High Impact Business.
|
11 |
| (1) Subject to subsections (b) and (b-5) of Section
5.5 |
12 |
| of the Illinois Enterprise Zone Act, a taxpayer shall be |
13 |
| allowed a credit
against the tax imposed by subsections (a) |
14 |
| and (b) of this Section for
investment in qualified
|
15 |
| property which is placed in service by a Department of |
16 |
| Commerce and Economic Opportunity
designated High Impact |
17 |
| Business. The credit shall be .5% of the basis
for such |
18 |
| property. The credit shall not be available (i) until the |
19 |
| minimum
investments in qualified property set forth in |
20 |
| subdivision (a)(3)(A) of
Section 5.5 of the Illinois
|
21 |
| Enterprise Zone Act have been satisfied
or (ii) until the |
22 |
| time authorized in subsection (b-5) of the Illinois
|
23 |
| Enterprise Zone Act for entities designated as High Impact |
24 |
| Businesses under
subdivisions (a)(3)(B), (a)(3)(C), and |
25 |
| (a)(3)(D) of Section 5.5 of the Illinois
Enterprise Zone |
26 |
| Act, and shall not be allowed to the extent that it would
|
|
|
|
SB1243 Engrossed |
- 19 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| reduce a taxpayer's liability for the tax imposed by |
2 |
| subsections (a) and (b) of
this Section to below zero. The |
3 |
| credit applicable to such investments shall be
taken in the |
4 |
| taxable year in which such investments have been completed. |
5 |
| The
credit for additional investments beyond the minimum |
6 |
| investment by a designated
high impact business authorized |
7 |
| under subdivision (a)(3)(A) of Section 5.5 of
the Illinois |
8 |
| Enterprise Zone Act shall be available only in the taxable |
9 |
| year in
which the property is placed in service and shall |
10 |
| not be allowed to the extent
that it would reduce a |
11 |
| taxpayer's liability for the tax imposed by subsections
(a) |
12 |
| and (b) of this Section to below zero.
For tax years ending |
13 |
| on or after December 31, 1987, the credit shall be
allowed |
14 |
| for the tax year in which the property is placed in |
15 |
| service, or, if
the amount of the credit exceeds the tax |
16 |
| liability for that year, whether
it exceeds the original |
17 |
| liability or the liability as later amended, such
excess |
18 |
| may be carried forward and applied to the tax liability of |
19 |
| the 5
taxable years following the excess credit year. The |
20 |
| credit shall be
applied to the earliest year for which |
21 |
| there is a liability. If there is
credit from more than one |
22 |
| tax year that is available to offset a liability,
the |
23 |
| credit accruing first in time shall be applied first.
|
24 |
| Changes made in this subdivision (h)(1) by Public Act |
25 |
| 88-670
restore changes made by Public Act 85-1182 and |
26 |
| reflect existing law.
|
|
|
|
SB1243 Engrossed |
- 20 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| (2) The term qualified property means property which:
|
2 |
| (A) is tangible, whether new or used, including |
3 |
| buildings and
structural components of buildings;
|
4 |
| (B) is depreciable pursuant to Section 167 of the |
5 |
| Internal Revenue
Code, except that "3-year property" |
6 |
| as defined in Section 168(c)(2)(A) of
that Code is not |
7 |
| eligible for the credit provided by this subsection |
8 |
| (h);
|
9 |
| (C) is acquired by purchase as defined in Section |
10 |
| 179(d) of the
Internal Revenue Code; and
|
11 |
| (D) is not eligible for the Enterprise Zone |
12 |
| Investment Credit provided
by subsection (f) of this |
13 |
| Section.
|
14 |
| (3) The basis of qualified property shall be the basis |
15 |
| used to compute
the depreciation deduction for federal |
16 |
| income tax purposes.
|
17 |
| (4) If the basis of the property for federal income tax |
18 |
| depreciation
purposes is increased after it has been placed |
19 |
| in service in a federally
designated Foreign Trade Zone or |
20 |
| Sub-Zone located in Illinois by the taxpayer,
the amount of |
21 |
| such increase shall be deemed property placed in service on
|
22 |
| the date of such increase in basis.
|
23 |
| (5) The term "placed in service" shall have the same |
24 |
| meaning as under
Section 46 of the Internal Revenue Code.
|
25 |
| (6) If during any taxable year ending on or before |
26 |
| December 31, 1996,
any property ceases to be qualified
|
|
|
|
SB1243 Engrossed |
- 21 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| property in the hands of the taxpayer within 48 months |
2 |
| after being placed
in service, or the situs of any |
3 |
| qualified property is moved outside
Illinois within 48 |
4 |
| months after being placed in service, the tax imposed
under |
5 |
| subsections (a) and (b) of this Section for such taxable |
6 |
| year shall
be increased. Such increase shall be determined |
7 |
| by (i) recomputing the
investment credit which would have |
8 |
| been allowed for the year in which
credit for such property |
9 |
| was originally allowed by eliminating such
property from |
10 |
| such computation, and (ii) subtracting such recomputed |
11 |
| credit
from the amount of credit previously allowed. For |
12 |
| the purposes of this
paragraph (6), a reduction of the |
13 |
| basis of qualified property resulting
from a |
14 |
| redetermination of the purchase price shall be deemed a |
15 |
| disposition
of qualified property to the extent of such |
16 |
| reduction.
|
17 |
| (7) Beginning with tax years ending after December 31, |
18 |
| 1996, if a
taxpayer qualifies for the credit under this |
19 |
| subsection (h) and thereby is
granted a tax abatement and |
20 |
| the taxpayer relocates its entire facility in
violation of |
21 |
| the explicit terms and length of the contract under Section
|
22 |
| 18-183 of the Property Tax Code, the tax imposed under |
23 |
| subsections
(a) and (b) of this Section shall be increased |
24 |
| for the taxable year
in which the taxpayer relocated its |
25 |
| facility by an amount equal to the
amount of credit |
26 |
| received by the taxpayer under this subsection (h).
|
|
|
|
SB1243 Engrossed |
- 22 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| (i) Credit for Personal Property Tax Replacement Income |
2 |
| Tax.
For tax years ending prior to December 31, 2003, a credit |
3 |
| shall be allowed
against the tax imposed by
subsections (a) and |
4 |
| (b) of this Section for the tax imposed by subsections (c)
and |
5 |
| (d) of this Section. This credit shall be computed by |
6 |
| multiplying the tax
imposed by subsections (c) and (d) of this |
7 |
| Section by a fraction, the numerator
of which is base income |
8 |
| allocable to Illinois and the denominator of which is
Illinois |
9 |
| base income, and further multiplying the product by the tax |
10 |
| rate
imposed by subsections (a) and (b) of this Section.
|
11 |
| Any credit earned on or after December 31, 1986 under
this |
12 |
| subsection which is unused in the year
the credit is computed |
13 |
| because it exceeds the tax liability imposed by
subsections (a) |
14 |
| and (b) for that year (whether it exceeds the original
|
15 |
| liability or the liability as later amended) may be carried |
16 |
| forward and
applied to the tax liability imposed by subsections |
17 |
| (a) and (b) of the 5
taxable years following the excess credit |
18 |
| year, provided that no credit may
be carried forward to any |
19 |
| year ending on or
after December 31, 2003. This credit shall be
|
20 |
| applied first to the earliest year for which there is a |
21 |
| liability. If
there is a credit under this subsection from more |
22 |
| than one tax year that is
available to offset a liability the |
23 |
| earliest credit arising under this
subsection shall be applied |
24 |
| first.
|
25 |
| If, during any taxable year ending on or after December 31, |
26 |
| 1986, the
tax imposed by subsections (c) and (d) of this |
|
|
|
SB1243 Engrossed |
- 23 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| Section for which a taxpayer
has claimed a credit under this |
2 |
| subsection (i) is reduced, the amount of
credit for such tax |
3 |
| shall also be reduced. Such reduction shall be
determined by |
4 |
| recomputing the credit to take into account the reduced tax
|
5 |
| imposed by subsections (c) and (d). If any portion of the
|
6 |
| reduced amount of credit has been carried to a different |
7 |
| taxable year, an
amended return shall be filed for such taxable |
8 |
| year to reduce the amount of
credit claimed.
|
9 |
| (j) Training expense credit. Beginning with tax years |
10 |
| ending on or
after December 31, 1986 and prior to December 31, |
11 |
| 2003, a taxpayer shall be
allowed a credit against the
tax |
12 |
| imposed by subsections (a) and (b) under this Section
for all |
13 |
| amounts paid or accrued, on behalf of all persons
employed by |
14 |
| the taxpayer in Illinois or Illinois residents employed
outside |
15 |
| of Illinois by a taxpayer, for educational or vocational |
16 |
| training in
semi-technical or technical fields or semi-skilled |
17 |
| or skilled fields, which
were deducted from gross income in the |
18 |
| computation of taxable income. The
credit against the tax |
19 |
| imposed by subsections (a) and (b) shall be 1.6% of
such |
20 |
| training expenses. For partners, shareholders of subchapter S
|
21 |
| corporations, and owners of limited liability companies, if the |
22 |
| liability
company is treated as a partnership for purposes of |
23 |
| federal and State income
taxation, there shall be allowed a |
24 |
| credit under this subsection (j) to be
determined in accordance |
25 |
| with the determination of income and distributive
share of |
26 |
| income under Sections 702 and 704 and subchapter S of the |
|
|
|
SB1243 Engrossed |
- 24 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| Internal
Revenue Code.
|
2 |
| Any credit allowed under this subsection which is unused in |
3 |
| the year
the credit is earned may be carried forward to each of |
4 |
| the 5 taxable
years following the year for which the credit is |
5 |
| first computed until it is
used. This credit shall be applied |
6 |
| first to the earliest year for which
there is a liability. If |
7 |
| there is a credit under this subsection from more
than one tax |
8 |
| year that is available to offset a liability the earliest
|
9 |
| credit arising under this subsection shall be applied first. No |
10 |
| carryforward
credit may be claimed in any tax year ending on or |
11 |
| after
December 31, 2003.
|
12 |
| (k) Research and development credit.
|
13 |
| For tax years ending after July 1, 1990 and prior to
|
14 |
| December 31, 2003, and beginning again for tax years ending on |
15 |
| or after December 31, 2004, a taxpayer shall be
allowed a |
16 |
| credit against the tax imposed by subsections (a) and (b) of |
17 |
| this
Section for increasing research activities in this State. |
18 |
| The credit
allowed against the tax imposed by subsections (a) |
19 |
| and (b) shall be equal
to 6 1/2% of the qualifying expenditures |
20 |
| for increasing research activities
in this State. For partners, |
21 |
| shareholders of subchapter S corporations, and
owners of |
22 |
| limited liability companies, if the liability company is |
23 |
| treated as a
partnership for purposes of federal and State |
24 |
| income taxation, there shall be
allowed a credit under this |
25 |
| subsection to be determined in accordance with the
|
26 |
| determination of income and distributive share of income under |
|
|
|
SB1243 Engrossed |
- 25 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| Sections 702 and
704 and subchapter S of the Internal Revenue |
2 |
| Code.
|
3 |
| For purposes of this subsection, "qualifying expenditures" |
4 |
| means the
qualifying expenditures as defined for the federal |
5 |
| credit for increasing
research activities which would be |
6 |
| allowable under Section 41 of the
Internal Revenue Code and |
7 |
| which are conducted in this State, "qualifying
expenditures for |
8 |
| increasing research activities in this State" means the
excess |
9 |
| of qualifying expenditures for the taxable year in which |
10 |
| incurred
over qualifying expenditures for the base period, |
11 |
| "qualifying expenditures
for the base period" means the average |
12 |
| of the qualifying expenditures for
each year in the base |
13 |
| period, and "base period" means the 3 taxable years
immediately |
14 |
| preceding the taxable year for which the determination is
being |
15 |
| made.
|
16 |
| Any credit in excess of the tax liability for the taxable |
17 |
| year
may be carried forward. A taxpayer may elect to have the
|
18 |
| unused credit shown on its final completed return carried over |
19 |
| as a credit
against the tax liability for the following 5 |
20 |
| taxable years or until it has
been fully used, whichever occurs |
21 |
| first; provided that no credit earned in a tax year ending |
22 |
| prior to December 31, 2003 may be carried forward to any year |
23 |
| ending on or after December 31, 2003.
|
24 |
| If an unused credit is carried forward to a given year from |
25 |
| 2 or more
earlier years, that credit arising in the earliest |
26 |
| year will be applied
first against the tax liability for the |
|
|
|
SB1243 Engrossed |
- 26 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| given year. If a tax liability for
the given year still |
2 |
| remains, the credit from the next earliest year will
then be |
3 |
| applied, and so on, until all credits have been used or no tax
|
4 |
| liability for the given year remains. Any remaining unused |
5 |
| credit or
credits then will be carried forward to the next |
6 |
| following year in which a
tax liability is incurred, except |
7 |
| that no credit can be carried forward to
a year which is more |
8 |
| than 5 years after the year in which the expense for
which the |
9 |
| credit is given was incurred.
|
10 |
| No inference shall be drawn from this amendatory Act of the |
11 |
| 91st General
Assembly in construing this Section for taxable |
12 |
| years beginning before January
1, 1999.
|
13 |
| (l) Environmental Remediation Tax Credit.
|
14 |
| (i) For tax years ending after December 31, 1997 and on |
15 |
| or before
December 31, 2001, a taxpayer shall be allowed a |
16 |
| credit against the tax
imposed by subsections (a) and (b) |
17 |
| of this Section for certain amounts paid
for unreimbursed |
18 |
| eligible remediation costs, as specified in this |
19 |
| subsection.
For purposes of this Section, "unreimbursed |
20 |
| eligible remediation costs" means
costs approved by the |
21 |
| Illinois Environmental Protection Agency ("Agency") under
|
22 |
| Section 58.14 of the Environmental Protection Act that were |
23 |
| paid in performing
environmental remediation at a site for |
24 |
| which a No Further Remediation Letter
was issued by the |
25 |
| Agency and recorded under Section 58.10 of the |
26 |
| Environmental
Protection Act. The credit must be claimed |
|
|
|
SB1243 Engrossed |
- 27 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| for the taxable year in which
Agency approval of the |
2 |
| eligible remediation costs is granted. The credit is
not |
3 |
| available to any taxpayer if the taxpayer or any related |
4 |
| party caused or
contributed to, in any material respect, a |
5 |
| release of regulated substances on,
in, or under the site |
6 |
| that was identified and addressed by the remedial
action |
7 |
| pursuant to the Site Remediation Program of the |
8 |
| Environmental Protection
Act. After the Pollution Control |
9 |
| Board rules are adopted pursuant to the
Illinois |
10 |
| Administrative Procedure Act for the administration and |
11 |
| enforcement of
Section 58.9 of the Environmental |
12 |
| Protection Act, determinations as to credit
availability |
13 |
| for purposes of this Section shall be made consistent with |
14 |
| those
rules. For purposes of this Section, "taxpayer" |
15 |
| includes a person whose tax
attributes the taxpayer has |
16 |
| succeeded to under Section 381 of the Internal
Revenue Code |
17 |
| and "related party" includes the persons disallowed a |
18 |
| deduction
for losses by paragraphs (b), (c), and (f)(1) of |
19 |
| Section 267 of the Internal
Revenue Code by virtue of being |
20 |
| a related taxpayer, as well as any of its
partners. The |
21 |
| credit allowed against the tax imposed by subsections (a) |
22 |
| and
(b) shall be equal to 25% of the unreimbursed eligible |
23 |
| remediation costs in
excess of $100,000 per site, except |
24 |
| that the $100,000 threshold shall not apply
to any site |
25 |
| contained in an enterprise zone as determined by the |
26 |
| Department of
Commerce and Community Affairs (now |
|
|
|
SB1243 Engrossed |
- 28 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| Department of Commerce and Economic Opportunity). The |
2 |
| total credit allowed shall not exceed
$40,000 per year with |
3 |
| a maximum total of $150,000 per site. For partners and
|
4 |
| shareholders of subchapter S corporations, there shall be |
5 |
| allowed a credit
under this subsection to be determined in |
6 |
| accordance with the determination of
income and |
7 |
| distributive share of income under Sections 702 and 704 and
|
8 |
| subchapter S of the Internal Revenue Code.
|
9 |
| (ii) A credit allowed under this subsection that is |
10 |
| unused in the year
the credit is earned may be carried |
11 |
| forward to each of the 5 taxable years
following the year |
12 |
| for which the credit is first earned until it is used.
The |
13 |
| term "unused credit" does not include any amounts of |
14 |
| unreimbursed eligible
remediation costs in excess of the |
15 |
| maximum credit per site authorized under
paragraph (i). |
16 |
| This credit shall be applied first to the earliest year
for |
17 |
| which there is a liability. If there is a credit under this |
18 |
| subsection
from more than one tax year that is available to |
19 |
| offset a liability, the
earliest credit arising under this |
20 |
| subsection shall be applied first. A
credit allowed under |
21 |
| this subsection may be sold to a buyer as part of a sale
of |
22 |
| all or part of the remediation site for which the credit |
23 |
| was granted. The
purchaser of a remediation site and the |
24 |
| tax credit shall succeed to the unused
credit and remaining |
25 |
| carry-forward period of the seller. To perfect the
|
26 |
| transfer, the assignor shall record the transfer in the |
|
|
|
SB1243 Engrossed |
- 29 - |
LRB095 01632 CMK 23652 b |
|
|
1 |
| chain of title for the
site and provide written notice to |
2 |
| the Director of the Illinois Department of
Revenue of the |
3 |
| assignor's intent to sell the remediation site and the |
4 |
| amount of
the tax credit to be transferred as a portion of |
5 |
| the sale. In no event may a
credit be transferred to any |
6 |
| taxpayer if the taxpayer or a related party would
not be |
7 |
| eligible under the provisions of subsection (i).
|
8 |
| (iii) For purposes of this Section, the term "site" |
9 |
| shall have the same
meaning as under Section 58.2 of the |
10 |
| Environmental Protection Act.
|
11 |
| (m) Education expense credit. Beginning with tax years |
12 |
| ending after
December 31, 1999, a taxpayer who
is the custodian |
13 |
| of one or more qualifying pupils shall be allowed a credit
|
14 |
| against the tax imposed by subsections (a) and (b) of this |
15 |
| Section for
qualified education expenses incurred on behalf of |
16 |
| the qualifying pupils.
The credit shall be equal to 25% of |
17 |
| qualified education expenses, but in no
event may the total |
18 |
| credit under this subsection claimed by a
family that is the
|
19 |
| custodian of qualifying pupils exceed $500. In no event shall a |
20 |
| credit under
this subsection reduce the taxpayer's liability |
21 |
| under this Act to less than
zero. This subsection is exempt |
22 |
| from the provisions of Section 250 of this
Act.
|
23 |
| For purposes of this subsection:
|
24 |
| "Qualifying pupils" means individuals who (i) are |
25 |
| residents of the State of
Illinois, (ii) are under the age of |
26 |
| 21 at the close of the school year for
which a credit is |
|
|
|
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|
1 |
| sought, and (iii) during the school year for which a credit
is |
2 |
| sought were full-time pupils enrolled in a kindergarten through |
3 |
| twelfth
grade education program at any school, as defined in |
4 |
| this subsection.
|
5 |
| "Qualified education expense" means the amount incurred
on |
6 |
| behalf of a qualifying pupil in excess of $250 for tuition, |
7 |
| book fees, and
lab fees at the school in which the pupil is |
8 |
| enrolled during the regular school
year.
|
9 |
| "School" means any public or nonpublic elementary or |
10 |
| secondary school in
Illinois that is in compliance with Title |
11 |
| VI of the Civil Rights Act of 1964
and attendance at which |
12 |
| satisfies the requirements of Section 26-1 of the
School Code, |
13 |
| except that nothing shall be construed to require a child to
|
14 |
| attend any particular public or nonpublic school to qualify for |
15 |
| the credit
under this Section.
|
16 |
| "Custodian" means, with respect to qualifying pupils, an |
17 |
| Illinois resident
who is a parent, the parents, a legal |
18 |
| guardian, or the legal guardians of the
qualifying pupils.
|
19 |
| (n) River Edge Redevelopment Zone site remediation tax |
20 |
| credit.
|
21 |
| (i) For tax years ending on or after December 31, 2006, |
22 |
| a taxpayer shall be allowed a credit against the tax |
23 |
| imposed by subsections (a) and (b) of this Section for |
24 |
| certain amounts paid for unreimbursed eligible remediation |
25 |
| costs, as specified in this subsection. For purposes of |
26 |
| this Section, "unreimbursed eligible remediation costs" |
|
|
|
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|
1 |
| means costs approved by the Illinois Environmental |
2 |
| Protection Agency ("Agency") under Section 58.14a
58.14 of |
3 |
| the Environmental Protection Act that were paid in |
4 |
| performing environmental remediation at a site within a |
5 |
| River Edge Redevelopment Zone for which a No Further |
6 |
| Remediation Letter was issued by the Agency and recorded |
7 |
| under Section 58.10 of the Environmental Protection Act. |
8 |
| The credit must be claimed for the taxable year in which |
9 |
| Agency approval of the eligible remediation costs is |
10 |
| granted. The credit is not available to any taxpayer if the |
11 |
| taxpayer or any related party caused or contributed to, in |
12 |
| any material respect, a release of regulated substances on, |
13 |
| in, or under the site that was identified and addressed by |
14 |
| the remedial action pursuant to the Site Remediation |
15 |
| Program of the Environmental Protection Act. |
16 |
| Determinations as to credit availability for purposes of |
17 |
| this Section shall be made consistent with rules adopted by |
18 |
| the Pollution Control Board pursuant to the Illinois |
19 |
| Administrative Procedure Act for the administration and |
20 |
| enforcement of Section 58.9 of the Environmental |
21 |
| Protection Act. For purposes of this Section, "taxpayer" |
22 |
| includes a person whose tax attributes the taxpayer has |
23 |
| succeeded to under Section 381 of the Internal Revenue Code |
24 |
| and "related party" includes the persons disallowed a |
25 |
| deduction for losses by paragraphs (b), (c), and (f)(1) of |
26 |
| Section 267 of the Internal Revenue Code by virtue of being |
|
|
|
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LRB095 01632 CMK 23652 b |
|
|
1 |
| a related taxpayer, as well as any of its partners. The |
2 |
| credit allowed against the tax imposed by subsections (a) |
3 |
| and (b) shall be equal to 25% of the unreimbursed eligible |
4 |
| remediation costs in excess of $100,000 per site. |
5 |
| (ii) A credit allowed under this subsection that is |
6 |
| unused in the year the credit is earned may be carried |
7 |
| forward to each of the 5 taxable years following the year |
8 |
| for which the credit is first earned until it is used. This |
9 |
| credit shall be applied first to the earliest year for |
10 |
| which there is a liability. If there is a credit under this |
11 |
| subsection from more than one tax year that is available to |
12 |
| offset a liability, the earliest credit arising under this |
13 |
| subsection shall be applied first. A credit allowed under |
14 |
| this subsection may be sold to a buyer as part of a sale of |
15 |
| all or part of the remediation site for which the credit |
16 |
| was granted. The purchaser of a remediation site and the |
17 |
| tax credit shall succeed to the unused credit and remaining |
18 |
| carry-forward period of the seller. To perfect the |
19 |
| transfer, the assignor shall record the transfer in the |
20 |
| chain of title for the site and provide written notice to |
21 |
| the Director of the Illinois Department of Revenue of the |
22 |
| assignor's intent to sell the remediation site and the |
23 |
| amount of the tax credit to be transferred as a portion of |
24 |
| the sale. In no event may a credit be transferred to any |
25 |
| taxpayer if the taxpayer or a related party would not be |
26 |
| eligible under the provisions of subsection (i). |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| (iii) For purposes of this Section, the term "site" |
2 |
| shall have the same meaning as under Section 58.2 of the |
3 |
| Environmental Protection Act. |
4 |
| (iv) This subsection is exempt from the provisions of |
5 |
| Section 250.
|
6 |
| (Source: P.A. 93-29, eff. 6-20-03; 93-840, eff. 7-30-04; |
7 |
| 93-871, eff. 8-6-04; 94-1021, eff. 7-12-06.)
|
8 |
| Section 10. The Environmental Protection Act is amended by |
9 |
| changing Section 25d-3 and 58.2 and 58.14 and by adding Section |
10 |
| 58.14a as follows: |
11 |
| (415 ILCS 5/25d-3) |
12 |
| Sec. 25d-3. Notices.
|
13 |
| (a) Beginning January 1, 2006, if the Agency determines |
14 |
| that: |
15 |
| (1) Soil contamination beyond the boundary of the site |
16 |
| where the release occurred poses a threat of exposure to |
17 |
| the public above the appropriate Tier 1 remediation |
18 |
| objectives, based on the current use of the off-site |
19 |
| property, adopted by the Board under Title XVII of this |
20 |
| Act, the Agency shall give notice of the threat to the |
21 |
| owner of the contaminated property; or |
22 |
| (2) Groundwater contamination poses a threat of |
23 |
| exposure to the public above the Class I groundwater |
24 |
| quality standards adopted by the Board under this Act and |
|
|
|
SB1243 Engrossed |
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|
|
1 |
| the Groundwater Protection Act, the Agency shall give |
2 |
| notice of the threat to the following: |
3 |
| (A) for any private, semi-private, or |
4 |
| non-community water system, the owners of the |
5 |
| properties served by the system; and |
6 |
| (B) for any community water system, the owners and |
7 |
| operators of the system. |
8 |
| The Agency's determination must be based on the credible, |
9 |
| scientific information available to it, and the Agency is not |
10 |
| required to perform additional investigations or studies |
11 |
| beyond those required by applicable federal or State laws. |
12 |
| (b) Beginning January 1, 2006, if any of the following |
13 |
| actions occur: (i) the Agency refers a matter for enforcement |
14 |
| under Section 43(a) of this Act; (ii) the Agency issues a seal |
15 |
| order under Section 34 (a) of this Act; or (iii) the Agency, the |
16 |
| United States Environmental Protection Agency (USEPA), or a |
17 |
| third party under Agency or USEPA oversight performs an |
18 |
| immediate removal under the federal Comprehensive |
19 |
| Environmental Response, Compensation, and Liability Act, as |
20 |
| amended, then, within 60 days after the action, the Agency must |
21 |
| give notice of the action to the owners of all property within |
22 |
| 2,500 feet of the subject contamination or any closer or |
23 |
| farther distance that the Agency deems appropriate under the |
24 |
| circumstances. Within 30 days after a request by the Agency, |
25 |
| the appropriate officials of the county in which the property |
26 |
| is located must provide to the Agency the names and addresses |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| of all property owners to whom the Agency is required to give |
2 |
| notice under this subsection (b), these owners being the |
3 |
| persons or entities that appear from the authentic tax records |
4 |
| of the county.
|
5 |
| (c) The methods by which the Agency gives the notices |
6 |
| required under this Section shall be determined in consultation |
7 |
| with members of the public and appropriate members of the |
8 |
| regulated community and may include, but shall not be limited |
9 |
| to, personal notification, public meetings, signs, electronic |
10 |
| notification, and print media. For sites at which a responsible |
11 |
| party has implemented a community relations plan, the Agency |
12 |
| may allow the responsible party to provide Agency-approved |
13 |
| notices in lieu of the notices required to be given by the |
14 |
| Agency. Notices issued under this Section may contain the |
15 |
| following information: |
16 |
| (1) the name and address of the site or facility where |
17 |
| the release occurred or is suspected to have occurred;
|
18 |
| (2) the identification of the contaminant released or |
19 |
| suspected to have been released;
|
20 |
| (3) information as to whether the contaminant was |
21 |
| released or suspected to have been released into the air, |
22 |
| land, or water;
|
23 |
| (4) a brief description of the potential adverse health |
24 |
| effects posed by the contaminant;
|
25 |
| (5) a recommendation that water systems with wells |
26 |
| impacted or potentially impacted by the contaminant be |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| appropriately tested; and
|
2 |
| (6) the name, business address, and phone number of |
3 |
| persons at the Agency from whom additional information |
4 |
| about the release or suspected release can be obtained.
|
5 |
| (d) Any person who is a responsible party with respect to |
6 |
| the release or substantial threat of release for which notice |
7 |
| is given under this Section is liable for all reasonable costs |
8 |
| incurred by the State in giving the notice. All moneys received |
9 |
| by the State under this subsection (d) for costs related to |
10 |
| releases and substantial threats of releases of hazardous |
11 |
| substances, pesticides, and petroleum other than releases and |
12 |
| substantial threats of releases of petroleum from underground |
13 |
| storage tanks subject to Title XVI of this Act must be |
14 |
| deposited in and used for purposes consistent with the |
15 |
| Hazardous Waste Fund. All moneys received by the State under |
16 |
| this subsection (d) for costs related to releases and |
17 |
| substantial threats of releases of petroleum from underground |
18 |
| storage tanks subject to Title XVI of this Act must be |
19 |
| deposited in and used for purposes consistent with the |
20 |
| Underground Storage Tank Fund.
|
21 |
| (Source: P.A. 94-314, eff. 7-25-05.)
|
22 |
| (415 ILCS 5/58.2)
|
23 |
| Sec. 58.2. Definitions. The following words and phrases |
24 |
| when used in this
Title shall have the meanings given to them |
25 |
| in this Section unless the context
clearly indicates otherwise:
|
|
|
|
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LRB095 01632 CMK 23652 b |
|
|
1 |
| "Agrichemical facility" means a site on which agricultural |
2 |
| pesticides are
stored or handled, or both, in preparation for |
3 |
| end use, or distributed. The
term does not include basic |
4 |
| manufacturing facility sites.
|
5 |
| "ASTM" means the American Society for Testing and |
6 |
| Materials.
|
7 |
| "Area background" means concentrations of regulated |
8 |
| substances that are
consistently present in the environment in |
9 |
| the vicinity of a site that are the
result of natural |
10 |
| conditions or human activities, and not the result solely of
|
11 |
| releases at the site.
|
12 |
| "Brownfields site" or "brownfields" means a parcel of real |
13 |
| property, or a
portion of the parcel, that has actual or |
14 |
| perceived contamination and an
active potential for |
15 |
| redevelopment.
|
16 |
| "Class I groundwater" means groundwater that meets the |
17 |
| Class I Potable
Resource groundwater criteria set forth in the |
18 |
| Board rules adopted under the
Illinois Groundwater Protection |
19 |
| Act.
|
20 |
| "Class III groundwater" means groundwater that meets the |
21 |
| Class III Special
Resource Groundwater criteria set forth in |
22 |
| the Board rules adopted under the
Illinois Groundwater |
23 |
| Protection Act.
|
24 |
| "Carcinogen" means a contaminant that is classified as a |
25 |
| Category A1 or A2
Carcinogen by the American Conference of |
26 |
| Governmental Industrial Hygienists; or
a Category 1 or 2A/2B |
|
|
|
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LRB095 01632 CMK 23652 b |
|
|
1 |
| Carcinogen by the World Health Organizations
International |
2 |
| Agency for Research on Cancer; or a "Human Carcinogen" or
|
3 |
| "Anticipated Human Carcinogen" by the United States Department |
4 |
| of Health and
Human Service National Toxicological Program; or |
5 |
| a Category A or B1/B2
Carcinogen by the United States |
6 |
| Environmental Protection Agency in Integrated
Risk Information |
7 |
| System or a Final Rule issued in a Federal Register notice by
|
8 |
| the USEPA as of the effective date of this amendatory Act of |
9 |
| 1995.
|
10 |
| "Licensed Professional Engineer" (LPE) means a person, |
11 |
| corporation, or
partnership licensed under the laws of this |
12 |
| State to practice professional
engineering.
|
13 |
| "Licensed Professional Geologist" means a person licensed |
14 |
| under the laws of
the State of Illinois to practice as a |
15 |
| professional geologist.
|
16 |
| "RELPEG" means a Licensed Professional Engineer or a |
17 |
| Licensed Professional
Geologist engaged in review and |
18 |
| evaluation under this Title.
|
19 |
| "Man-made pathway" means constructed routes that may allow |
20 |
| for the
transport of regulated substances including, but not |
21 |
| limited to, sewers,
utility lines, utility vaults, building |
22 |
| foundations, basements, crawl spaces,
drainage ditches, or |
23 |
| previously excavated and filled areas.
|
24 |
| "Municipality" means an incorporated city, village, or |
25 |
| town in this State.
"Municipality" does not mean a township, |
26 |
| town when that term is used as the
equivalent of a
township, |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| incorporated town that has superseded a civil township, county,
|
2 |
| or school district, park district, sanitary district, or |
3 |
| similar governmental
district.
|
4 |
| "Natural pathway" means natural routes for the transport of |
5 |
| regulated
substances including, but not limited to, soil, |
6 |
| groundwater, sand seams and
lenses, and gravel seams and |
7 |
| lenses.
|
8 |
| "Person" means individual, trust, firm, joint stock |
9 |
| company, joint venture,
consortium, commercial entity, |
10 |
| corporation (including a government
corporation), partnership, |
11 |
| association, State, municipality, commission,
political |
12 |
| subdivision of a State, or any interstate body including the |
13 |
| United
States Government and each department, agency, and |
14 |
| instrumentality of the
United States.
|
15 |
| "Regulated substance" means any hazardous substance as |
16 |
| defined under Section
101(14) of the Comprehensive |
17 |
| Environmental Response, Compensation, and
Liability Act of |
18 |
| 1980 (P.L. 96-510) and petroleum products including crude oil
|
19 |
| or any fraction thereof, natural gas, natural gas liquids, |
20 |
| liquefied natural
gas, or synthetic gas usable for fuel (or |
21 |
| mixtures of natural gas and such
synthetic gas).
|
22 |
| "Remedial action" means activities associated with |
23 |
| compliance with the
provisions of Sections 58.6 and 58.7.
|
24 |
| "Remediation Applicant" (RA) means any person seeking to |
25 |
| perform or
performing investigative or remedial activities |
26 |
| under this Title, including the
owner or operator of the site |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| or persons authorized by law or consent to act
on behalf of or |
2 |
| in lieu of the owner or operator of the site.
|
3 |
| "Remediation costs" means reasonable costs paid for |
4 |
| investigating
and remediating regulated substances of concern |
5 |
| consistent with the remedy
selected for a site. |
6 |
| For purposes
of Section 58.14, "remediation costs" shall |
7 |
| not include costs incurred prior to
January 1, 1998, costs |
8 |
| incurred after the issuance of a No Further
Remediation Letter |
9 |
| under Section 58.10 of this Act, or costs incurred more than
12 |
10 |
| months prior to acceptance into the Site Remediation Program. |
11 |
| For the purpose of Section 58.14a, "remediation costs" do |
12 |
| not include any costs incurred before January 1, 2007, any |
13 |
| costs incurred after the issuance of a No Further Remediation |
14 |
| Letter under Section 58.10, or any costs incurred more than 12 |
15 |
| months before acceptance into the Site Remediation Program.
|
16 |
| "Residential property" means any real property that is used |
17 |
| for habitation by
individuals and other property uses defined |
18 |
| by Board rules such as education,
health care, child care and |
19 |
| related uses.
|
20 |
| "River Edge Redevelopment Zone" has the meaning set forth |
21 |
| under the River Edge Redevelopment Zone Act.
|
22 |
| "Site" means any single location, place, tract of land or |
23 |
| parcel of property,
or portion thereof, including contiguous |
24 |
| property separated by a public
right-of-way.
|
25 |
| "Regulated substance of concern" means any contaminant |
26 |
| that is expected to be
present at the site based upon past and |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| current land uses and associated
releases that are known to the |
2 |
| Remediation Applicant based upon reasonable
inquiry.
|
3 |
| (Source: P.A. 92-735, eff. 7-25-02.)
|
4 |
| (415 ILCS 5/58.14)
|
5 |
| Sec. 58.14. Environmental Remediation Tax Credit review.
|
6 |
| (a) Prior to applying for the Environmental Remediation Tax |
7 |
| Credit under
Section 201 of the Illinois Income Tax Act, |
8 |
| Remediation Applicants shall first
submit to the Agency an |
9 |
| application for review of remediation costs. The Agency shall |
10 |
| review the application jointly with the Department of Commerce |
11 |
| and Economic Opportunity. The
application and review process |
12 |
| shall be conducted in
accordance with the requirements of this |
13 |
| Section and the rules
adopted under
subsection (g). A |
14 |
| preliminary review of the estimated remediation costs for
|
15 |
| development and implementation of the Remedial Action Plan may |
16 |
| be obtained in
accordance with subsection (d).
|
17 |
| (b) No
application for review shall be submitted until a No |
18 |
| Further Remediation Letter
has been issued by the Agency and |
19 |
| recorded in the chain of title for the site
in accordance with |
20 |
| Section 58.10. The Agency shall review the application to
|
21 |
| determine whether the costs submitted are remediation costs, |
22 |
| and whether the
costs incurred are reasonable. The application |
23 |
| shall be on forms prescribed
and provided by the Agency. At a |
24 |
| minimum, the application shall include the
following:
|
25 |
| (1) information identifying the Remediation Applicant |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| and the site for
which the tax credit is being sought and |
2 |
| the date of acceptance of
the site into the Site |
3 |
| Remediation Program;
|
4 |
| (2) a copy of the No Further Remediation Letter with |
5 |
| official verification
that the letter has been recorded in |
6 |
| the chain of title for the site and a
demonstration that |
7 |
| the site for which the application is submitted is the same
|
8 |
| site as the one for which the No Further Remediation Letter |
9 |
| is issued;
|
10 |
| (3) a demonstration that the release of the regulated |
11 |
| substances
of concern for which the No Further Remediation |
12 |
| Letter was
issued were not caused or contributed to in any |
13 |
| material respect by
the Remediation Applicant. After the |
14 |
| Pollution Control Board rules are adopted
pursuant to the |
15 |
| Illinois
Administrative Procedure Act for the |
16 |
| administration and enforcement of Section
58.9 of the |
17 |
| Environmental Protection Act, determinations as to credit
|
18 |
| availability shall be made consistent with those rules;
|
19 |
| (4) an itemization and documentation, including |
20 |
| receipts, of the
remediation costs incurred;
|
21 |
| (5) a demonstration that the costs incurred are |
22 |
| remediation costs as
defined in this Act and its rules;
|
23 |
| (6) a demonstration that the costs submitted for review |
24 |
| were incurred
by the Remediation Applicant who received the |
25 |
| No Further Remediation Letter;
|
26 |
| (7) an application fee in the amount set forth in |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
|
|
1 |
| subsection (e) for each
site for which review of |
2 |
| remediation costs is requested and, if applicable,
|
3 |
| certification from the Department of Commerce and Economic |
4 |
| Opportunity that the
site is located in an enterprise zone;
|
5 |
| (8) any other information deemed appropriate by the |
6 |
| Agency.
|
7 |
| (c) Within 60 days after receipt by the Agency of an |
8 |
| application meeting
the requirements of subsection (b), the |
9 |
| Agency shall issue a letter to the
applicant approving, |
10 |
| disapproving, or modifying the remediation costs submitted
in |
11 |
| the
application. If the remediation costs are approved as |
12 |
| submitted, the Agency's
letter shall state the amount of the |
13 |
| remediation costs to be applied toward the
Environmental |
14 |
| Remediation Tax Credit. If an application is disapproved or
|
15 |
| approved with modification of remediation costs, the Agency's |
16 |
| letter shall set
forth the reasons for the disapproval or |
17 |
| modification and state the amount of
the remediation costs, if |
18 |
| any, to be applied toward the Environmental
Remediation Tax |
19 |
| Credit.
|
20 |
| If a preliminary review of a budget plan has been obtained |
21 |
| under
subsection (d), the Remediation Applicant may submit, |
22 |
| with the
application and supporting documentation under |
23 |
| subsection (b), a copy of the
Agency's final determination |
24 |
| accompanied by a certification that the actual
remediation |
25 |
| costs incurred for the development and implementation of the
|
26 |
| Remedial Action Plan are equal to or less than the costs |
|
|
|
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| approved in the
Agency's final determination on the budget |
2 |
| plan. The certification shall be
signed by the Remediation |
3 |
| Applicant and notarized. Based on that submission,
the Agency |
4 |
| shall not be required to conduct further review of the costs
|
5 |
| incurred for development and implementation of the Remedial |
6 |
| Action Plan and may
approve costs as submitted.
|
7 |
| Within 35 days after receipt of an Agency letter |
8 |
| disapproving or
modifying an application for approval of |
9 |
| remediation costs, the Remediation
Applicant may appeal the |
10 |
| Agency's decision to the Board in the manner provided
for the |
11 |
| review of permits in Section 40 of this Act.
|
12 |
| (d) (1) A Remediation Applicant may obtain a preliminary |
13 |
| review of
estimated
remediation costs for the development |
14 |
| and implementation of the Remedial Action
Plan by |
15 |
| submitting a budget plan along with the Remedial Action |
16 |
| Plan. The
budget plan shall be set forth on forms |
17 |
| prescribed and provided by the Agency
and shall include but |
18 |
| shall not be limited to line item estimates of the
costs |
19 |
| associated with each line item (such as personnel, |
20 |
| equipment, and
materials)
that the Remediation Applicant |
21 |
| anticipates will be incurred for the development
and |
22 |
| implementation of the Remedial Action Plan. The Agency |
23 |
| shall review the
budget plan along with
the Remedial Action |
24 |
| Plan to determine whether the estimated costs submitted are
|
25 |
| remediation costs and whether the costs estimated for the |
26 |
| activities are
reasonable.
|
|
|
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| (2) If the Remedial Action Plan is amended by the |
2 |
| Remediation Applicant or
as a result of Agency action, the |
3 |
| corresponding budget plan shall be revised
accordingly and |
4 |
| resubmitted for Agency review.
|
5 |
| (3) The budget plan shall be accompanied by the |
6 |
| applicable fee as set
forth in subsection (e).
|
7 |
| (4) Submittal of a budget plan shall be deemed an |
8 |
| automatic 60-day waiver
of the Remedial Action Plan review |
9 |
| deadlines set forth in this Section and its
rules.
|
10 |
| (5) Within the applicable period of review, the Agency |
11 |
| shall issue a
letter to the Remediation Applicant |
12 |
| approving, disapproving, or modifying the
estimated |
13 |
| remediation costs submitted in the budget plan. If a budget |
14 |
| plan is
disapproved or approved with modification of |
15 |
| estimated remediation costs, the
Agency's letter shall set |
16 |
| forth the reasons for the disapproval or
modification.
|
17 |
| (6) Within 35 days after receipt of an Agency letter |
18 |
| disapproving or
modifying a budget plan, the Remediation |
19 |
| Applicant may appeal the Agency's
decision to the Board in |
20 |
| the manner provided for the review of permits in
Section 40 |
21 |
| of this Act.
|
22 |
| (e) The fees for reviews conducted under this Section are |
23 |
| in addition to any
other fees or payments for Agency services |
24 |
| rendered pursuant to the Site
Remediation Program
and shall be |
25 |
| as follows:
|
26 |
| (1) The fee for an application for review of |
|
|
|
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| remediation costs shall be
$1,000 for each site reviewed.
|
2 |
| (2) The fee for the review of the budget plan submitted |
3 |
| under subsection
(d) shall be $500 for each site reviewed.
|
4 |
| (3) In the case of a Remediation Applicant submitting |
5 |
| for review total
remediation costs of $100,000 or less for |
6 |
| a site located within an enterprise zone
a River Edge |
7 |
| Redevelopment Zone (as set forth in paragraph (i) of |
8 |
| subsection (l)
(n) of Section 201
of the Illinois Income |
9 |
| Tax Act), the
fee for an application for review of |
10 |
| remediation costs shall be $250 for each
site reviewed.
For |
11 |
| those sites, there shall be no fee for review of a budget |
12 |
| plan under
subsection (d).
|
13 |
| The application fee shall be made payable to the State of |
14 |
| Illinois, for
deposit into the Hazardous Waste Fund.
|
15 |
| Pursuant to appropriation, the Agency shall use the fees |
16 |
| collected under this
subsection for development and
|
17 |
| administration of the review program.
|
18 |
| (f) The Agency shall have the authority to enter into any |
19 |
| contracts or
agreements that may be necessary to carry out its |
20 |
| duties and responsibilities
under this Section.
|
21 |
| (g) Within 6 months after July 21, 1997, the Agency shall |
22 |
| propose rules prescribing procedures
and standards for its |
23 |
| administration of this Section. Within 6 months after
receipt |
24 |
| of the Agency's proposed rules, the Board shall adopt on second |
25 |
| notice,
pursuant to Sections 27 and 28 of this Act and the |
26 |
| Illinois Administrative
Procedure Act, rules that are |
|
|
|
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|
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| consistent with this Section. Prior to the
effective date of |
2 |
| rules adopted under this Section, the Agency may conduct
|
3 |
| reviews of applications under this Section and the Agency is |
4 |
| further authorized
to distribute guidance documents on costs |
5 |
| that are eligible or ineligible as
remediation costs.
|
6 |
| (Source: P.A. 94-793, eff. 5-19-06; 94-1021, eff. 7-12-06.)
|
7 |
| (415 ILCS 5/58.14a new) |
8 |
| Sec. 58.14a. River Edge Redevelopment Zone Site |
9 |
| Remediation Tax Credit Review. |
10 |
| (a) Prior to applying for the River Edge Redevelopment Zone |
11 |
| site remediation tax credit under subsection (n) of Section 201 |
12 |
| of the Illinois Income Tax Act, a Remediation Applicant must |
13 |
| first submit to the Agency an application for review of |
14 |
| remediation costs. The Agency shall review the application in |
15 |
| consultation with the Department of Commerce and Economic |
16 |
| Opportunity. The application and review process must be |
17 |
| conducted in accordance with the requirements of this Section |
18 |
| and the rules adopted under subsection (g). A preliminary |
19 |
| review of the estimated remediation costs for development and |
20 |
| implementation of the Remedial Action Plan may be obtained in |
21 |
| accordance with subsection (d). |
22 |
| (b) No application for review may be submitted until a No |
23 |
| Further Remediation Letter has been issued by the Agency and |
24 |
| recorded in the chain of title for the site in accordance with |
25 |
| Section 58.10. The Agency shall review the application to |
|
|
|
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| determine whether the costs submitted are remediation costs and |
2 |
| whether the costs incurred are reasonable. The application must |
3 |
| be on forms prescribed and provided by the Agency. At a |
4 |
| minimum, the application must include the following: |
5 |
| (1) information identifying the Remediation Applicant, |
6 |
| the site for which the tax credit is being sought, and the |
7 |
| date of acceptance of the site into the Site Remediation |
8 |
| Program; |
9 |
| (2) a copy of the No Further Remediation Letter with |
10 |
| official verification that the letter has been recorded in |
11 |
| the chain of title for the site and a demonstration that |
12 |
| the site for which the application is submitted is the same |
13 |
| site as the one for which the No Further Remediation Letter |
14 |
| is issued; |
15 |
| (3) a demonstration that the release of the regulated |
16 |
| substances of concern for which the No Further Remediation |
17 |
| Letter was issued were not caused or contributed to in any |
18 |
| material respect by the Remediation Applicant. |
19 |
| Determinations as to credit availability shall be made |
20 |
| consistent with the Pollution Control Board rules for the |
21 |
| administration and enforcement of Section 58.9 of this Act; |
22 |
| (4) an itemization and documentation, including |
23 |
| receipts, of the remediation costs incurred; |
24 |
| (5) a demonstration that the costs incurred are |
25 |
| remediation costs as defined in this Act and its rules; |
26 |
| (6) a demonstration that the costs submitted for review |
|
|
|
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| were incurred by the Remediation Applicant who received the |
2 |
| No Further Remediation Letter; |
3 |
| (7) an application fee in the amount set forth in |
4 |
| subsection (e) for each site for which review of |
5 |
| remediation costs is requested and, if applicable, |
6 |
| certification from the Department of Commerce and Economic |
7 |
| Opportunity that the site is located in a River Edge |
8 |
| Redevelopment Zone; and |
9 |
| (8) any other information deemed appropriate by the |
10 |
| Agency. |
11 |
| (c) Within 60 days after receipt by the Agency of an |
12 |
| application meeting the requirements of subsection (b), the |
13 |
| Agency shall issue a letter to the applicant approving, |
14 |
| disapproving, or modifying the remediation costs submitted in |
15 |
| the application. If the remediation costs are approved as |
16 |
| submitted, then the Agency's letter must state the amount of |
17 |
| the remediation costs to be applied toward the River Edge |
18 |
| Redevelopment Zone site remediation tax credit. If an |
19 |
| application is disapproved or approved with modification of |
20 |
| remediation costs, then the Agency's letter must set forth the |
21 |
| reasons for the disapproval or modification and must state the |
22 |
| amount of the remediation costs, if any, to be applied toward |
23 |
| the River Edge Redevelopment Zone site remediation tax credit. |
24 |
| If a preliminary review of a budget plan has been obtained |
25 |
| under subsection (d), then the Remediation Applicant may |
26 |
| submit, with the application and supporting documentation |
|
|
|
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LRB095 01632 CMK 23652 b |
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|
1 |
| under subsection (b), a copy of the Agency's final |
2 |
| determination accompanied by a certification that the actual |
3 |
| remediation costs incurred for the development and |
4 |
| implementation of the Remedial Action Plan are equal to or less |
5 |
| than the costs approved in the Agency's final determination on |
6 |
| the budget plan. The certification must be signed by the |
7 |
| Remediation Applicant and notarized. Based on that submission, |
8 |
| the Agency is not required to conduct further review of the |
9 |
| costs incurred for development and implementation of the |
10 |
| Remedial Action Plan, and it may approve the costs as |
11 |
| submitted.
Within 35 days after the receipt of an Agency letter |
12 |
| disapproving or modifying an application for approval of |
13 |
| remediation costs, the Remediation Applicant may appeal the |
14 |
| Agency's decision to the Board in the manner provided for the |
15 |
| review of permits under Section 40 of this Act. |
16 |
| (d) A Remediation Applicant may obtain a preliminary review |
17 |
| of estimated remediation costs for the development and |
18 |
| implementation of the Remedial Action Plan by submitting a |
19 |
| budget plan along with the Remedial Action Plan. The budget |
20 |
| plan must be set forth on forms prescribed and provided by the |
21 |
| Agency and must include, without limitation, line-item |
22 |
| estimates of the costs associated with each line item (such as |
23 |
| personnel, equipment, and materials) that the Remediation |
24 |
| Applicant anticipates will be incurred for the development and |
25 |
| implementation of the Remedial Action Plan. The Agency shall |
26 |
| review the budget plan along with the Remedial Action Plan to |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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|
1 |
| determine whether the estimated costs submitted are |
2 |
| remediation costs and whether the costs estimated for the |
3 |
| activities are reasonable. |
4 |
| If the Remedial Action Plan is amended by the Remediation |
5 |
| Applicant or as a result of Agency action, then the |
6 |
| corresponding budget plan must be revised accordingly and |
7 |
| resubmitted for Agency review. |
8 |
| The budget plan must be accompanied by the applicable fee |
9 |
| as set forth in subsection (e). |
10 |
| The submittal of a budget plan is deemed to be an automatic |
11 |
| 60-day waiver of the Remedial Action Plan review deadlines set |
12 |
| forth in this Section and its rules. |
13 |
| Within the applicable period of review, the Agency shall |
14 |
| issue a letter to the Remediation Applicant approving, |
15 |
| disapproving, or modifying the estimated remediation costs |
16 |
| submitted in the budget plan. If a budget plan is disapproved |
17 |
| or approved with modification of estimated remediation costs, |
18 |
| then the Agency's letter must set forth the reasons for the |
19 |
| disapproval or modification. |
20 |
| Within 35 days after receipt of an Agency letter |
21 |
| disapproving or modifying a budget plan, the Remediation |
22 |
| Applicant may appeal the Agency's decision to the Board in the |
23 |
| manner provided for the review of permits under Section 40 of |
24 |
| this Act. |
25 |
| (e) Any fee for a review conducted under this Section is in |
26 |
| addition to any other fees or payments for Agency services |
|
|
|
SB1243 Engrossed |
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LRB095 01632 CMK 23652 b |
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|
1 |
| rendered under the Site Remediation Program. The fees under |
2 |
| this Section are as follows: |
3 |
| (1) the fee for an application for review of |
4 |
| remediation costs is $250 for each site reviewed; and |
5 |
| (2) there is no fee for the review of the budget plan |
6 |
| submitted under subsection (d). |
7 |
| The application fee must be made payable to the State of |
8 |
| Illinois, for deposit into the Hazardous Waste Fund.
Pursuant |
9 |
| to appropriation, the Agency shall use the fees collected under |
10 |
| this subsection for development and administration of the |
11 |
| review program. |
12 |
| (f) The Agency has the authority to enter into any |
13 |
| contracts or agreements that may be necessary to carry out its |
14 |
| duties and responsibilities under this Section. |
15 |
| (g) The Agency shall adopt rules prescribing procedures and |
16 |
| standards for its administration of this Section. Prior to the
|
17 |
| effective date of rules adopted under this Section, the Agency |
18 |
| may conduct reviews of applications under this Section. The |
19 |
| Agency may publish informal guidelines concerning this Section |
20 |
| to provide guidance.
|
21 |
| Section 99. Effective date. This Act takes effect upon |
22 |
| becoming law.
|