IL SB3574

Creates the Illinois Energy Transition Zone Act allowing municipalities to designate areas as Energy Transition Zones in communities affected by closures of coal plants, coal mines, or nuclear energy plants within the past 10 years.

Establishes the Energy Transition Tax Credit Act providing green energy enterprises (solar, wind, water, geothermal, bioenergy, hydrogen) located in certified Energy Transition Zones eligibility for state income tax credits to foster job creation and green energy development.

Grants green energy enterprises exemptions from use and occupation taxes on building materials incorporated into green energy projects within Energy Transition Zones when purchased from local retailers.

Allows green energy enterprises meeting specified job creation or investment thresholds ($175 million minimum investment or 200 full-time jobs created) to receive exemptions from state and local utility tax pass-on charges for up to 30 years or the zone's certified term, whichever is shorter.

Requires Department of Commerce and Economic Opportunity certification of Energy Transition Zones through a process including municipal ordinances, public hearings, application review, and Board approval, with all provisions taking effect immediately upon enactment.