HB4394 Summary

• Extends the sunset date for coal and aggregate exploration, mining, off-highway hauling, processing, maintenance, and reclamation equipment tax credit from July 1, 2023 to July 1, 2028.

• Amends four Illinois tax acts (Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act) to implement the extended equipment credit exemption.

• Applies to equipment used in coal and aggregate industries, including replacement parts and equipment purchased for lease, while excluding motor vehicles required to be registered under the Illinois Vehicle Code.

• Takes effect upon becoming law.