Illinois General Assembly - Bill Status for SB2857
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 Bill Status of SB2857  103rd General Assembly

Short Description:  REVENUE-MEGAPROJECTS

Senate Sponsors
Sen. Don Harmon - Mary Edly-Allen

Last Action
DateChamber Action
  3/7/2024SenateTo Subcommittee on Government Operations

Statutes Amended In Order of Appearance
35 ILCS 105/3-5
35 ILCS 110/3-5
35 ILCS 115/3-5
35 ILCS 120/2-5
35 ILCS 200/Art. 10 Div. 22 heading new
35 ILCS 200/10-910 new
35 ILCS 200/10-915 new
35 ILCS 200/10-920 new
35 ILCS 200/10-925 new
35 ILCS 200/10-927 new
35 ILCS 200/10-930 new
35 ILCS 200/10-937 new
35 ILCS 200/10-940 new
35 ILCS 200/10-945 new
35 ILCS 200/10-950 new
35 ILCS 200/10-955 new
35 ILCS 200/10-960 new
35 ILCS 200/10-965 new
35 ILCS 200/10-970 new
35 ILCS 200/10-980 new
35 ILCS 200/10-985 new
35 ILCS 200/10-990 new
35 ILCS 200/10-995 new
35 ILCS 200/10-1000 new


Synopsis As Introduced
Amends the Property Tax Code. Provides that certain property may be certified by the Department of Commerce and Economic Opportunity as containing a megaproject. Provides that a "megaproject" is a project that meets certain investment and job creation specifications. Provides that the megaproject property is eligible for an assessment freeze. Provides that megaproject property may be granted an abatement. Provides that a company that operates a megaproject shall enter into an agreement with the municipality in which the project is located and other local taxing districts to make certain special payments. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that qualified tangible personal property used in the construction or development of a megaproject is exempt from the taxes imposed under those Acts. Effective June 1, 2024.

Actions 
DateChamber Action
  1/19/2024SenateFiled with Secretary by Sen. Ann Gillespie
  1/19/2024SenateFirst Reading
  1/19/2024SenateReferred to Assignments
  1/29/2024SenateAdded as Chief Co-Sponsor Sen. Mary Edly-Allen
  2/6/2024SenateAssigned to Executive
  3/7/2024SenateTo Subcommittee on Government Operations
  3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024
  4/5/2024SenateRule 2-10 Committee Deadline Established As May 3, 2024
  4/12/2024SenateRule 2-10 Third Reading Deadline Established As May 3, 2024
  4/15/2024SenateChief Sponsor Changed to Sen. Don Harmon

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