SB1178 amends Illinois tax laws to create a tax credit for developers of brownfield and grayfield properties and to exempt various types of personal.
SB1178 introduces an income tax credit for developers investing in projects that redevelop brownfield or grayfield properties. It also exempts certain types of personal property from sales and use taxes, including equipment used in data centers, breast pumps and related supplies, menstrual products, and certain machinery and equipment used in agriculture and aircraft maintenance. Exemptions are also provided for property used in disaster relief, education, and cultural organizations. The bill specifies conditions for these exemptions and outlines the process for claiming credits and refunds.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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