Illinois General Assembly

The House returned to Springfield February 26 through the 28th.  The Senate was not in session this week.

 

The House and Senate are in session next week Tuesday through Thursday. 

The Senate Revenue committee has scheduled a hearing on March 6.  Here is a link to the bills that have been posted for committee.  At this time, we don't know which of the bills may be considered by the committee.

As of this morning, the House Revenue committee has not schedule a hearing for next week.

The Senate Judiciary committee has scheduled a hearing for March 5.  Among the items posted for committee is  SB 1564 - (McConchie) which amends the False Claims Act to provide no court has jurisdiction over a civil action relating to or involving a false claim regarding certain tax acts administered by the Illinois Department of Revenue unless the action is brought by the Attorney General. As of today, I don't know whether the bill will be called next week.  We support this legislation.

The Senate Financial Institutions committee is scheduled to meet on March 6.  Two bills amending the Revised Uniform Unclaimed Property Act have been posted.  SB 1313 - (Castro) and   SB 1614 - (Castro).  

SB 1313 is an initiative of the Treasurer and is opposed by the various banking organizations.  

SB 1614 also appears to be an initiative of the Treasurer which provides that an  heir or agent who files an unclaimed property claim in which the decedent's property does not exceed $100 may submit an affidavit attesting to the heir's or agent's capacity to claim in lieu of submitting a certified copy to verify a claim. Provides that the affidavit shall be accompanied by a copy of other documentary proof that the State Treasurer requests. Provides that the State Treasurer may change the maximum value by administrative rule. I am unaware of any opposition to SB 1614.

The House Revenue committee held a hearing on Thursday on February 28. No legislation was considered by the committee this week. The committee held a subject matter hearing on FY 20 revenue estimates and took testimony from representatives of the Illinois Department of Revenue and the Governor's Office of Management and Budget.

Updates on Chamber Tax Institute legislation:

SB 1613 - (Sims) Enterprise Zones - assigned to the Senate Commerce and Economic Development committee,

SB 1655 - (Weaver) Creates the Small Business Asset Purchase Account - assigned to Senate Revenue committee,

SB 1686 - (Tracy) - Expands the temporary storage exemption - assigned to Senate Revenue committee,

HB 1480 - (McCombie) - Expands the temporary storage exemption - Assigned to subcommittee in the House Revenue committee,

SB 1676 - (Tracy) - Reinstate the expanded temporary storage exemption, - assigned to Senate Revenue committee,

HB 2139 - (Wheeler) - Amend the False Claims Act to correct abuses allowed under current law - assigned to House Executive committee, 

SB 1714 - (Weaver) -  Amend the False Claims Act to correct abuses allowed under current law - assigned to Senate Judiciary committee

SB 1328 - (Holmes) - Creates a bonus investment credit for small businesses - assigned to Senate Revenue committee

SB 1349 - (Weaver) - Amends the Uniform Penalty and Interest Act - out of committee on second reading in the Senate

SB 1350 - (Weaver) - Amends the R & D credit to modify the base period calculation and make the credit permanent - assigned to Senate Revenue committee

HB 2573 - (Zalewski) - Amends the Revised Uniform Unclaimed Property Act to modify certain anti-business provisions - assigned to House Revenue committee

SB 1591 - (Sims) - Creates sales and use tax and electricity excise tax exemptions for data centers - assigned to Senate Revenue committee

SB 1656 - (Weaver) - Amends the Illinois Income Tax Act to reinstate and extend the sunset date of the personal property tax replacement income tax - assigned to Senate Revenue committee

Amendments to legislation this week

SB 1595 - As amended, makes the Film Production Services Tax Credit permanent.

HB 102 - This shell bill was amended by Representative Zalewski to amend  the Illinois Municipal Code to provide that, in addition to any other tax that may be imposed, if a municipality adopts a responsible bid ordinance that is approved by the Department of Transportation, then the municipality may also impose a tax on motor fuel at a rate not to exceed $0.03 per gallon. Effective January 1, 2020.

HB 1448 - Replaces everything after the enacting clause. Amends the Property Tax Code. Creates a property tax abatement for residential property that qualifies for an abatement under any program adopted by the governing authority of a taxing district for the purpose of revitalizing or stabilizing neighborhoods.

HB 2574 - Replaces everything after the enacting clause. Provides that a person required to file a federal Form 1099-K identifying a reportable payment transaction to a payee with an Illinois address shall also report to the Department of Revenue and to any payee with an Illinois address any information required by Section 6050W of the Internal Revenue Code with respect to third-party network transactions. Provides that third-party network transactions are subject to the $600 de minimis reporting requirements set forth in the Internal Revenue Code, rather than the de minimis reporting requirements otherwise applicable to third-party settlement organizations under the Internal Revenue Code. Provides that failure to provide that information shall result in a penalty for failure to file a tax return.

SB 29 (SFA 1) - In provisions creating the Energy Transition Tax Credit Act, removes language concerning the use of the credit as a tax payment by a pass through entity. Provides that the credit is exempt from the automatic sunset provision of the Illinois Income Tax Act. Provides that the credit may be applied in more than 10 taxable years but not more than 15 taxable years for an eligible green energy enterprise that qualifies under the Energy Transition Tax Credit Act and the Corporate Headquarters Relocation Act and undertakes a qualifying project within the timeframe specified by the Department of Commerce and Economic Opportunity. Provides that the Department of Commerce and Economic Opportunity shall extend the tax credit agreement to not more than 15 years and reduce the annual allocation to 60% of the maximum credit that would otherwise be available. Adds provisions allowing the credit to be carried forward. Makes changes concerning pass through entities. Provides that the investment credit for Energy Transition Zones applies for tax years beginning on or after January 1, 2020.

SB 29 (SFA 2) - Makes changes to provisions of the introduced bill creating the Illinois Energy Transition Zone Act. Provides that a person employed in a full-time equivalent job must earn a wage that meets or exceeds the prevailing wage for the locality in which the work is performed.

Rulemaking