Bill > HB2632

This bill amends several sections of the Illinois Income Tax Act and the Prevailing Wage Act to expand the definition of "public works" to include projects funded by the proceeds of certain transferable tax credits. Specifically, the bill adds language to the tax credit provisions for film production services, affordable housing donations, live theater productions, hospital credits, and hydrogen fuel replacement credits, stating that projects funded wholly or in part by transferred tax credits shall be considered public works under the Prevailing Wage Act. This means that such projects would be subject to prevailing wage requirements, which mandate that workers on these projects are paid standard wages for their specific type of work in the local area. The bill aims to ensure fair compensation for workers involved in projects that receive state tax credits, regardless of whether the credits are used directly by the original recipient or transferred to another entity. The changes are effective immediately and apply to various tax credits across different industries, potentially expanding labor protections and wage standards for workers on tax credit-funded projects.

Business and Industry

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2632&GAID=18&DocTypeID=HB&SessionID=114&GA=104