IL HB1459

Exempts businesses in manufacturing and industrial sectors (Standard Industrial Classifications 10-14, 21-39) from the Gas Use Tax, which is normally imposed at 2.4 cents per therm or 5% of purchase price

Excludes consideration received from these same manufacturing and industrial businesses from the definition of "gross receipts" under the Gas Revenue Tax Act, effectively exempting them from that tax

Creates a new exemption from the Electricity Excise Tax for electricity used in the process of manufacturing or assembling tangible personal property for wholesale or retail sale or lease

Covered industries include mining, tobacco, textiles, apparel, lumber, furniture, paper, printing, chemicals, petroleum, rubber, leather, stone/clay/glass, primary metals, fabricated metals, machinery, electronics, transportation equipment, instruments, and miscellaneous manufacturing

Takes effect immediately upon becoming law