92nd General Assembly
Summary of SB0075
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Senate Sponsors:
WATSON-CLAYBORNE-LAUZEN-WELCH-MAHAR.

House Sponsors:
HOFFMAN-HOLBROOK-STEPHENS-MOORE

Short description: 
ENVIRONMENTAL-REMEDIATION COST                                             

Synopsis of Bill as introduced:
        Amends the environmental remediation tax credit provisions in the      
   Illinois Income Tax Act.  Extends the credit  to  2010  (now,  expires      
   December 31, 2001).  Provides that the credit may be claimed for costs      
   incurred during the 10-year period after approval rather than for just      
   the  year of approval.  Changes how the limit on the credit allowed is      
   calculated.  Provides that the credit may be carried  forward  for  15      
   (now  5)  years.   Makes  changes  with respect to selling the credit.      
   Makes other changes.  Amends the environmental remediation tax  credit      
   review  provisions  in  the Environmental Protection Act.  Removes the      
   requirement that no application for review be submitted  until  a  "No      
   Further   Remediation   Letter"   is   issued.    Provides   that  the      
   Environmental  Protection  Agency  may  file  a  lien  on  remediation      
   property receiving a tax credit if the recipient  fails  to  meet  the      
   conditions  of the issuance of the credit.  Provides that the Director      
   of DCCA may grant  tax  credits  and  exemptions  under  the  Economic      
   Development  for  a  Growing  Economy  Tax Credit Act and the Illinois      
   Enterprise Zone Act.  Amends those Acts accordingly.   Authorizes  the      
   Director  of  DCCA  to  issue  a Distressed Communities and Industries      
   Grant to any entity for the purpose  of  paying  the  allowable  costs      
   needed  to  cause  an eligible remediation project to occur.  Provides      
   that the credit provisions are applicable to taxable years  ending  on      
   or  after  December  31, 2001.  Makes other changes.  Amends the State      
   Finance Act to create the Distressed Communities and Industries  Grant      
   Fund.   Requires the affected Departments to propose rules.  Effective      
   immediately.                                                                
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          20 ILCS 655/4.5 new                                                  
          35 ILCS 10/5-20                                                      
          415 ILCS 5/58.13a new                                                
          Adds reference to:                                                   
          415 ILCS 5/58.13                                                     
          415 ILCS 100/5                  from Ch. 111 1/2, par. 7205          
        Deletes everything after  the  enacting  clause.   Reinserts  the      
   provisions  of the bill as introduced but makes the following changes.      
   Provides that the environmental remediation tax credit is extended  to      
   2006  rather  than 2010.  Provides that the Department of Commerce and      
   Community Affairs (DCCA) may approve remediation  costs  for  the  tax      
   credit  prior to issuance of a "No Further Remediation Letter" only if      
   the Remediation Applicant will remediate groundwater for more than one      
   year (the actual credit still may not be claimed  until  the  taxpayer      
   receives   a   "No   Further   Remediation  Letter").    Restores  the      
   carryforward of the credit to 5 years (changed  to  10  years  in  the      
   bill).  Removes  the  Distressed Communities and Industries Grant Fund      
   provisions. Replaces  the  changes  in  the  introduced  bill  to  the      
   environmental   remediation   tax  credit  review  provisions  in  the      
   Environmental Protection Act.  Provides that the Remediation Applicant      
   shall first apply to DCCA for review of eligibility for the tax credit      
   and that if DCCA determines the Remediation Applicant is eligible, the      
   Applicant shall apply  to  the  Environmental  Protection  Agency  for      
   review  of  remediation  costs  (now,  applications directly to IEPA).      
   Sets forth DCCA application review criteria.  Provides for  a  fee  of      
   $1,000  to  DCCA  for  the  eligibility review. Creates the Distressed      
   Communities and Industries Fund, consisting of the new  fees  paid  to      
   DCCA  for  review  as  well  as  appropriations and gifts to the Fund.      
   Provides that the Fund shall be used  by  DCCA  for  the  purposes  of      
   environmental  remediation  tax  credit  review.  Further  amends  the      
   Environmental  Protection  Act.   Provides  that no municipality shall      
   receive more than 2 grants (now,  one  grant)  under  the  Brownfields      
   Redevelopment  Grant  Program.   Amends the Response Action Contractor      
   Indemnification Act.    Provides  that  every  State  response  action      
   contract  shall provide that 5% of each payment by the State under the      
   contract  shall  be  paid  directly  into  the  Response   Contractors      
   Indemnification  Fund  rather  than to the contractor, unless there is      
   more than $2,000,000 (now, $4,000,000) in the Fund at the beginning of      
   the State fiscal year.  Extends the annual  $1,200,000  transfer  from      
   the  Response  Contractors  Indemnification  Fund  to  the Brownfields      
   Redevelopment Fund to fiscal year  2005  (now,  ends  in  fiscal  year      
   2002).                                                                      
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          30 ILCS 105/5.545 new                                                
          35 ILCS 5/201                                                        
          415 ILCS 5/58.13                                                     
          415 ILCS 5/58.14                                                     
          415 ILCS 100/5                                                       
          Adds reference to:                                                   
          35 ILCS 5/213 new                                                    
        Deletes  everything  after  the  enacting  clause.   Amends   the      
   Illinois Income Tax Act.  Adds a provision, containing a caption only,      
   concerning the environmental remediation tax credit.                        
        HOUSE AMENDMENT NO. 2.                                                 
          Deletes reference to:                                                
          35 ILCS 5/213 new                                                    
          Adds reference to:                                                   
          30 ILCS 105/5.545 new                                                
          415 ILCS 5/58.3                                                      
          415 ILCS 5/58.13                                                     
          415 ILCS 5/58.18 new                                                 
          415 ILCS 100/5                  from Ch. 111 1/2, par. 7205          
        Deletes  everything  after  the  enacting  clause.   Amends   the      
   Environmental   Protection   Act.    Creates   the   Brownfields  Site      
   Restoration  Program.   Provides  that  the  Environmental  Protection      
   Agency (the Agency), with the assistance of the Department of Commerce      
   and Community Affairs (DCCA), must establish and administer a  program      
   for  the  payment  of  remediation  costs  for  the  investigation and      
   remediation of abandoned or underutilized properties.   Provides  that      
   prior  to  applying to the Agency for payment, a Remediation Applicant      
   must first submit to DCCA an application for  review  of  eligibility.      
   Provides  that  if DCCA has determined that a Remediation Applicant is      
   eligible, the Remediation Applicant  may  submit  an  application  for      
   payment  to  the  Agency.   Sets  forth  requirements  for Applicants.      
   Provides that the fees for reviews conducted by DCCA  and  the  Agency      
   are to be deposited into the Brownfields Site Restoration Program Fund      
   for use by the Agency, subject to appropriation, for purposes of those      
   provisions.  Amends  the  State  Finance  Act  to create the new Fund.      
   Changes the name of the Brownfields Redevelopment Grant Program to the      
   Municipal Brownfields Redevelopment Grant Program  and  provides  that      
   grants  are  limited to a maximum of $240,000 (now, $120,000).  Amends      
   the Response Action Contractor  Indemnification  Act.   Provides  that      
   every  State  response  action  contract shall provide that 5% of each      
   payment by the State under the contract shall be  paid  directly  into      
   the  Response  Contractors  Indemnification  Fund  rather  than to the      
   contractor, unless there is more than $2,000,000 (now, $4,000,000)  in      
   the  Fund  at  the  beginning  of  the State fiscal year.  Extends the      
   annual   $1,200,000   transfer   from   the    Response    Contractors      
   Indemnification  Fund  to the Brownfields Redevelopment Fund to fiscal      
   year 2005 (now, ends in fiscal year 2002).                                  
        HOUSE AMENDMENT NO. 3.                                                 
        Provides that within 9 months (rather than 6 months) after             
   receipt of the proposed rules from DCCA and the Environmental Pro-          
   tection Agency, the Pollution Control Board shall adopt, on second          
   notice, pursuant to certain provisions of this Act and the Illinois         
   Administrative Procedures Act, rules that are consistent with these         
   provisions.                                                                 
 
Last action on Bill: PUBLIC ACT.............................. 92-0486

   Last action date: AUG-23-2001

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   3     SENATE -   1


   END OF INQUIRY 
                                                                               



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