summary
Introduced
02/06/2026
02/06/2026
In Committee
02/13/2026
02/13/2026
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local, and federal economic benefits available to businesses in each of the State's counties and municipalities are repealed on July 1, 2026.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 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.
Sponsors (1)
Last Action
Referred to Rules Committee (on 02/13/2026)
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