SB3120 provides tax exemptions for qualifying Illinois data centers, with specific requirements for capital investment, job creation, and water.
SB3120 amends the Department of Commerce and Economic Opportunity Law to provide tax exemptions for qualifying Illinois data centers. To qualify, a data center must be located in Illinois and meet certain criteria, including making a capital investment of at least $250 million over a 60-month period, creating at least 20 new full-time equivalent jobs, and implementing a water stewardship strategy. The Department of Commerce and Economic Opportunity is required to issue certificates of exemption for these qualifying data centers, exempting them from various taxes.
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