Bill > SB2025

This bill amends 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 several sections of the tax code (covering film production, affordable housing, live theater production, hospital, and hydrogen fuel replacement tax credits) stating that projects funded in whole 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 be paid standard local wages for their type of work. The bill aims to ensure that tax credit-funded projects maintain fair labor standards by requiring them to follow the same wage guidelines as other public works projects. The changes apply to various tax credits and become effective immediately, potentially impacting how tax credit-funded projects are structured and compensated in Illinois.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2025&GAID=18&DocTypeID=SB&SessionID=114&GA=104