SB2252 Engrossed - Green Energy Business Act

• Establishes "Green Energy Business" designation for businesses producing renewable energy or biofuels: at least 5 megawatts annually of electricity from renewable resources, or 30 million gallons annually of biodiesel/ethanol, or manufacturing components for renewable energy production.

• Designated Green Energy Businesses must not be located in enterprise zones at time of designation, commit to placing investments in service at qualified Illinois property, and certify that tax credits and exemptions are necessary for the investment and job creation.

• Green Energy Businesses qualify for tax credits and exemptions under the Illinois Income Tax Act (subsection h of Section 201), Retailers' Occupation Tax Act (Sections 1d, 1e, and 5l), and Public Utilities Act (Sections 9-222 and 9-222.1A).

• Requires designated Green Energy Businesses to enter into project labor agreements with labor organizations establishing minimum hourly wages, benefits, and provisions prohibiting strikes or lockouts.

• Department of Commerce and Economic Opportunity must approve or deny Green Energy Business applications within 90 days and may revoke designation if businesses fail to comply with designation terms and conditions.