Bill > SB3665

This bill allows a qualified taxpayer, defined as a regulated utility or power generating company in Illinois that provides baseload or intermediate generation and can demonstrate a significant negative impact on its Illinois workforce or business operations due to scheduled energy phaseout dates (2030, 2035, 2040, and 2045) as outlined in Public Act 102-662, to claim an income tax credit. This credit is equal to 20% of the wages paid to a "qualified energy choice worker," meaning an employee of the taxpayer who works in Illinois and is directly employed at one of the taxpayer's generational units in the state. There are limitations on the credit, including a maximum of $2,000 per employee and a cap of 50 employees per taxpayer annually, and the total aggregate credits awarded statewide are capped at $25 million per state fiscal year. If the credit exceeds the taxpayer's liability, the excess can be carried forward for up to five years, applied to the earliest tax liability first. The bill also authorizes state agencies to adopt rules for its administration and takes effect immediately upon becoming law.

Budget and Finance

https://www.ilga.gov/Legislation/BillStatus?DocNum=3665&GAID=18&DocTypeID=SB&SessionID=114&GA=104