Illinois General Assembly - Bill Status for HB3565

Synopsis As Introduced
Amends the Property Tax Code. Provides that certain property may be certified by the Department of Revenue as containing a mega project. Provides that a "mega project" is a project with respect to which a company makes a specified investment during a specified investment period. Provides that the mega project property is eligible for an assessment freeze. Provides that mega project property may be granted an abatement. Provides that a company that operates a mega project shall enter into an agreement with the municipality in which the project is located to make certain special payments. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that qualified tangible personal property used in the construction or operation of a mega project is exempt from the taxes imposed under those Acts. Effective June 1, 2023.

Actions

Date	Chamber	Action
2/17/2023	House	Filed with the Clerk by Rep. Mark L. Walker
2/17/2023	House	First Reading
2/17/2023	House	Referred to Rules Committee
2/28/2023	House	Assigned to Revenue & Finance Committee
3/9/2023	House	To Revenue - Property Tax Subcommittee
3/10/2023	House	Rule 19(a) / Re-referred to Rules Committee

×