summary
Introduced
02/04/2026
02/04/2026
In Committee
02/04/2026
02/04/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that provisions requiring the Department of Commerce and Economic Opportunity's official website to contain a comprehensive list of State, local, and federal economic benefits available to businesses in each of the State's counties and municipalities are repealed on July 1, 2026. Provides that the following reports shall be filed on or before January 31 of each year (instead of January 1): a report on entrepreneurial assistance centers; reports on the Enterprise Zone Loan Fund and the Large Business Attraction Fund; and reports concerning cannabis social equity. Amends the Southeastern Illinois Economic Development Authority Act. Makes changes concerning the membership of the Board of the Southeastern Illinois Economic Development Authority. Amends the Illinois Income Tax Act. Extends the sunset for the apprenticeship education expense tax credit, the research and development tax credit, the angel investment tax credit, and the River Edge Redevelopment Zone tax credit. Effective immediately.
AI Summary
This bill makes several changes to Illinois law, primarily concerning economic development and tax credits. It repeals the requirement for the Department of Commerce and Economic Opportunity's (DCEO) website to list all state, local, and federal economic benefits by July 1, 2026. Additionally, it shifts the deadline for filing several annual reports, including those on entrepreneurial assistance centers, the Enterprise Zone Loan Fund, the Large Business Attraction Fund, and cannabis social equity, from January 1st to January 31st. The bill also modifies the membership of the Southeastern Illinois Economic Development Authority's Board by reducing the number of public members and adding the Director of Commerce and Economic Opportunity as an ex officio member. Finally, it extends the sunset dates for several tax credits, including those for apprenticeship education expenses, research and development, angel investments, and River Edge Redevelopment Zones, allowing these incentives to remain in place for longer periods.
Sponsors (1)
Last Action
Referred to Assignments (on 02/04/2026)
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