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IL SB3072
Bill
Status
Introduced
1/29/2026
Primary Sponsor
Meg Loughran Cappel
Click for details
AI Summary
- Creates a 30% income tax credit for retail motor fuel facilities that install infrastructure to sell higher blends of biodiesel, ethanol, and renewable diesel (blends containing greater than 10% biofuel content)
- Caps the credit at $200,000 per qualified facility and $1,000,000 per taxpayer per taxable year
- Qualified infrastructure costs include underground storage tanks, dispensers, blender pumps, piping, and monitoring equipment, but exclude land acquisition, site preparation, and buildings
- Requires credit recipients to continuously offer higher biofuel blends for retail sale for at least 5 consecutive years, with credit subject to recapture if requirement is not met
- Allows excess credits to be carried forward for up to 5 years; effective for taxable years beginning on or after January 1, 2026
Legislative Description
INC TAX-FUEL COSTS
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/10/2026
Assignments1/29/2026
Full Bill Text
No bill text available