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IL HB5470

IL HB5470
DCEO-VARIOUS


summary

Introduced
02/06/2026
In Committee
03/26/2026
Crossed Over
Passed
Dead

Introduced Session

Potential new amendment
104th General Assembly

Bill Summary

Reinserts the provisions of the introduced bill. Repeals the Opportunities for At-Risk Women Act. Adds provisions to the introduced bill amending the Illinois Council on Women and Girls Act. Provides that the Illinois Council on Women and Girls may create a Subcommittee on Opportunities for Women At Risk of Being Justice Impacted. Sets forth the duties of the subcommittee. Adds provisions to the introduced bill amending the Music and Musicians Tax Credit and Jobs Act. Changes references from "taxable year" to "calendar year". Makes changes concerning reports. Further amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Office of Economic Equity and Empowerment may administer assistance that is focused on the revitalization and economic stabilization of urban areas in the State. Makes changes concerning the new business permitting portal. Amends the Energy Assistance Act. Makes changes concerning the membership of the Low Income Energy Assistance Policy Advisory Council. Amends the Illinois Promotion Act. In provisions concerning the Coordinating Committee of State agencies involved with tourism, provides that the Director of Commerce and Economic Opportunity and the Lieutenant Governor may appoint designees to serve on the committee. Further amends the Illinois Income Tax Act. Extends the sunset of the research and development credit until January 1, 2037 (currently, January 1, 2032). Removes provisions of the introduced bill concerning the pass-through entity tax. Effective immediately.

AI Summary

This bill makes several changes to Illinois law, primarily affecting reporting deadlines and tax credits. It repeals a requirement for the Department of Commerce and Economic Opportunity (DCEO) to maintain a comprehensive list of economic benefits on its website by July 1, 2026. It also shifts the annual reporting deadline for various funds and programs, including those related to entrepreneurial assistance, enterprise zones, and cannabis social equity, from January 1st to January 31st. Additionally, the bill extends the sunset dates for several tax credits, including those for apprenticeship education expenses, research and development, angel investments, and River Edge Redevelopment Zones, ensuring these incentives remain available for longer periods. Finally, it adjusts the membership of the Southeastern Illinois Economic Development Authority Board.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

House Floor Amendment No. 2 Rules Refers to Revenue & Finance Committee (on 04/14/2026)

bill text


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