HB1769 Summary

• Establishes the Reimagining Electric Vehicles in Illinois (REV Illinois) Program to provide tax credits and incentives for electric vehicle manufacturers, component parts manufacturers, and power supply equipment manufacturers locating or expanding in Illinois

• Requires qualifying projects to make substantial capital investments ($20 million to $1.5 billion depending on project type) and create new full-time jobs (50 to 500 jobs) within specified timeframes (48-60 months)

• Provides REV Illinois Credits based on 75-100% of incremental income tax from new employees and up to 10% of training costs; higher percentages available for projects in underserved or energy transition areas

• Includes REV Construction Jobs Credits (50-75% of incremental income tax from construction wages), utility tax exemptions, building materials sales tax exemptions, and investment tax credits (0.5% of qualified property basis)

• Establishes workforce development requirements including diversity reporting, sexual harassment policy reporting, labor neutrality provisions for large manufacturers, and partnerships with educational institutions for internships and apprenticeships