IL SB2706

Increases the property tax valuation basis for wind energy devices from $360,000 to $588,000 per megawatt of nameplate capacity, effective for taxable year 2026 and thereafter

Increases the property tax valuation basis for commercial solar energy systems from $218,000 to $446,000 per megawatt of nameplate capacity, effective for taxable year 2026 and thereafter

Wind energy devices covered must have a nameplate capacity of at least 0.5 megawatts and generate electric power for commercial sale

Commercial solar energy systems covered are ground-installed systems that generate electricity primarily for wholesale or retail sale rather than on-site consumption

The bill takes effect immediately upon becoming law