SB2025 amends the Illinois Income Tax Act and Prevailing Wage Act to redefine public works and apply prevailing wage requirements to certain tax.

SB2025 expands the definition of "public works" to include various construction and maintenance projects funded by tax credits. It mandates that projects financed by certain tax credits, such as those for film production services, live theater productions, and affordable housing, must adhere to prevailing wage laws. The bill also requires taxpayers to pay a fee to the Department of Commerce and Economic Opportunity when transferring these credits. The prevailing wage requirements apply to projects funded in whole or in part by the proceeds of transferred tax credits.

SB2025 amends the Illinois Income Tax Act and Prevailing Wage Act to redefine public works and apply prevailing wage requirements to certain tax.

SB2025 expands the definition of "public works" to include various construction and maintenance projects funded by tax credits. It mandates that projects financed by certain tax credits, such as those for film production services, live theater productions, and affordable housing, must adhere to prevailing wage laws. The bill also requires taxpayers to pay a fee to the Department of Commerce and Economic Opportunity when transferring these credits. The prevailing wage requirements apply to projects funded in whole or in part by the proceeds of transferred tax credits.