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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1468 Introduced , by Rep. Jack D. Franks SYNOPSIS AS INTRODUCED:
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| | Amends the Electricity Excise Tax Law. Creates an alternative energy credit for taxpayers who construct facilities that generate electricity using alternative energy sources (including solar, wind, geothermal, landfill methane gas, fuel cells, and biomass). Provides that the credit shall be 0.18 cents per kilowatt hour generated by the alternative energy system. Provides that the credit shall sunset on January 1, 2019. Effective July 1, 2011.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB1468 | | LRB097 06338 HLH 46418 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Electricity Excise Tax Law is amended by |
| 5 | | adding Section 2-5.5 as follows:
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| 6 | | (35 ILCS 640/2-5.5 new) |
| 7 | | Sec. 2-5.5. Credit for residential alternative energy. Any |
| 8 | | person who is subject to taxation under this Act who constructs |
| 9 | | a new residential facility that generates electricity using an |
| 10 | | alternative energy system is entitled to a credit against the |
| 11 | | tax imposed under Section 2-4 of this Act in an amount equal to |
| 12 | | 0.18 cents per kilowatt hour generated by the alternative |
| 13 | | energy system. No later than the first day of the first month |
| 14 | | of each calendar quarter, a taxpayer who wishes to claim a |
| 15 | | credit under this Section shall certify to the Department the |
| 16 | | total number of kilowatt hours generated by the alternative |
| 17 | | energy system during the previous quarter. Within 30 days after |
| 18 | | receipt of the certification, the Department shall pay the |
| 19 | | amount certified directly to the taxpayer from the proceeds of |
| 20 | | the tax imposed under Section 2-4. |
| 21 | | For the purposes of this Section, "alternative energy |
| 22 | | system" means a system that produces energy using one or more |
| 23 | | of the following sources: solar, wind, geothermal heat pumps |