summary
Introduced
02/05/2026
02/05/2026
In Committee
03/12/2026
03/12/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Provides that a qualified taxpayer may apply to the Department of Revenue for an income tax credit in an amount equal to 20% of the wages paid by the qualified taxpayer to a qualified energy choice worker based in Illinois in the taxable year. Provides that the term "qualified taxpayer" means a taxpayer that is a regulated utility in the State of Illinois or a power generating company providing baseload or intermediate generation in Illinois and that meets specified criteria and is able to demonstrate an adverse and material operational impact to either its overall Illinois-based workforce or its ability to conduct business in Illinois based on the scheduled phaseout target dates of 2030, 2035, 2040, and 2045, as provided in Public Act 102-662. Sets forth limitations on the amount of the credit. Effective immediately.
AI Summary
This bill allows qualified taxpayers, defined as regulated utilities or power generating companies in Illinois that provide baseload or intermediate generation and are experiencing significant negative impacts on their workforce or business operations due to scheduled energy phaseout dates (2030, 2035, 2040, and 2045) outlined in Public Act 102-662, to claim an income tax credit. This credit is equal to 20% of the wages paid to qualified energy choice workers, who are employees working in Illinois directly at the taxpayer's generational units, with a limit of $2,000 per employee and a cap of 50 employees per taxpayer annually. The credit cannot reduce tax liability below zero and any excess can be carried forward for up to five years, applied to the earliest tax liability first. The total amount of credits awarded statewide is capped at $25,000,000 per state fiscal year, and relevant state agencies will develop rules to administer this program, which is effective immediately.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
House Revenue & Finance Committee Hearing (08:00:00 3/19/2026 Room D-1 Stratton Building) (on 03/19/2026)
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