SB3122 Summary

• Requires the Department of Commerce and Economic Opportunity to issue a report by June 30, 2019 evaluating how tax exemptions and incentives spur job growth and economic development in Illinois.

• Report must assess tax exemptions and incentives under five acts: the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, Retailers' Occupation Tax Act, and Electricity Excise Tax Law.

• Department of Revenue must provide requested data on taxes imposed under the listed acts while protecting taxpayer personal identifying information.

• Report must be submitted to the Governor and General Assembly.

• The reporting requirement automatically repeals on June 30, 2020, and the act takes effect immediately upon enactment.