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IL SB3665
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Christopher Belt
Click for details
AI Summary
- Creates a 20% income tax credit on wages paid to qualified energy workers in Illinois, capped at $2,000 per employee and 50 employees per taxpayer annually
- Eligible taxpayers include regulated utilities and power generating companies providing baseload or intermediate generation that can demonstrate adverse operational impacts from clean energy phaseout deadlines
- Credit applies to taxable years from December 31, 2026 through December 31, 2030
- Total aggregate credits cannot exceed $25,000,000 per state fiscal year
- Excess credits may be carried forward for up to 5 taxable years following the year the credit was earned
Legislative Description
INC TAX-ENERGY CHOICE
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/17/2026
Assignments2/5/2026
Full Bill Text
No bill text available