HB5444

Illinois HB5444 amends the Property Tax Code to adjust the valuation of wind and solar energy systems for property tax purposes.

Illinois HB5444 amends the Property Tax Code to change the valuation of wind and solar energy systems for property tax purposes. For wind energy devices, the bill sets the real property cost basis at $588,000 per megawatt of nameplate capacity starting from taxable year 2027, up from the current $360,000. For solar energy systems, the bill sets the real property cost basis at $446,000 per megawatt of nameplate capacity starting from taxable year 2027, up from the current $218,000. The bill also defines terms such as "commercial solar energy system," "ground installed," and "trending factor.