97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB3723
 
Introduced 2/10/2012, by Sen. Don Harmon
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/223 new

     Amends the Illinois Income Tax Act.  Creates a credit for taxpayers who  make a purchase of green power during the taxable year.  Provides that the credit shall be in an amount equal to 5% of the amount expended if the taxpayer is a purchaser of Illinois-based green power and 3% of the amount expended if the taxpayer is a purchaser of green power from a source outside of Illinois.  Defines "green power" as  electricity or natural gas produced from renewable or non-polluting technologies including, but not limited to, air turbines (windmills), geothermal power plants, hydropower plants, solar cells or biomass.  Effective immediately.
  


LRB097 20030 HLH 65348 b

 
 
A BILL FOR
 

  
SB3723LRB097 20030 HLH 65348 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Illinois Income Tax Act is amended  by adding 
5Section 223 as follows:
 
6    (35 ILCS 5/223 new)
7    Sec. 223. Green power credit.  For tax years
beginning on or 
8after January 1, 2013, each taxpayer who  makes a purchase of 
9green power through an alternative retail electric supplier or 
10an alternative gas supplier, as defined by the Public Utilities 
11Act, during the taxable year  is
entitled to a credit against 
12the taxes imposed under
subsections (a) and (b) of Section 201 
13of this Act as provided
in this Section. If the taxpayer is a 
14purchaser of Illinois-based green power, then the credit shall 
15be in an amount equal to 5% of the amount expended on the 
16purchase during the taxable year.  If the taxpayer is a 
17purchaser of green power from a source outside of Illinois, 
18then the credit shall be in an amount equal to 3% of the amount 
19expended on the purchase.
20    As used in this Section, "green power" means electricity or 
21natural gas produced from renewable or non-polluting 
22technologies including, but not limited to, air turbines 
23(windmills), geothermal power plants, hydropower plants, solar 
 
 
SB3723- 2 -LRB097 20030 HLH 65348 b

1cells or biomass.

"Illinois-based green power" means 
2electricity or natural gas produced from renewable or 
3non-polluting technologies including, but not limited to, air 
4turbines (windmills), geothermal power plants, hydropower 
5plants, solar cells or biomass that are solely located within 
6the State of Illinois.
7    The tax credit may not reduce the taxpayer's liability to 
8less than
zero and may not be carried forward to future taxable 
9years. 
 
 
10    Section 99. Effective date. This Act takes effect upon 
11becoming law.