HB5095 Summary: Green Energy Business Act

• Creates the Green Energy Business Act, authorizing the Department of Commerce and Economic Opportunity to certify "Green Energy Businesses" that produce renewable energy components (5+ megawatts annually), renewable energy production, or 30+ million gallons of biodiesel/ethanol annually.

• Designated Green Energy Businesses receive tax credits and exemptions under the Illinois Income Tax Act (0.5% investment credit on qualified property), Retailers' Occupation Tax Act (sales tax exemptions on equipment and building materials), and Public Utilities Act (utility tax exemptions).

• Requires Green Energy Businesses to enter into project labor agreements establishing minimum wages, benefits, and provisions preventing strikes or lockouts, with agreements filed with the Department.

• Applicants must certify investments would not occur without the offered tax incentives, commit to placing business in service at qualified Illinois property, and not be located in an existing enterprise zone at the time of designation.

• Department must approve or deny applications within 90 days and may revoke designations if businesses fail to comply with terms and conditions of certification.