HB5189 Summary

• Amends the Reimagining Electric Vehicles in Illinois (REV Illinois) Act to broaden the definition of "electric vehicle component parts manufacturer" to include manufacturers of parts or accessories used in electric vehicles and advanced battery component parts, applying to agreements entered into on or after the effective date.

• Modifies the definition of "retained employee" by removing the "directly and substantially related" standard (requiring two-thirds of job duties related to project), replacing it with a simpler "directly related" standard for agreements entered into on or after the effective date.

• Increases maximum REV Illinois Credit from 25% to 75% of retained employee incremental income tax for non-underserved/energy transition areas, and from 50% to 100% for underserved or energy transition areas, provided applicants meet statewide baseline employment requirements.

• Adds renewal options for REV Illinois Credit agreements, allowing projects to renew for up to one additional 15-year term (for major projects) or 10-year term (for smaller projects).

• Makes technical amendments to the Live Theater Production Tax Credit Act to expand eligibility to "commercial Broadway touring shows" for State Fiscal Year 2023 with increased credit caps ($4 million total, split between touring shows and other productions).