SB4005

SB4005 repeals tax provisions for wind and solar energy systems in Illinois after 2026.

SB4005 amends the Property Tax Code to limit the applicability of certain tax provisions to wind and solar energy systems through assessment year 2026. It repeals these provisions effective January 1, 2028. The bill specifies that the fair cash value of commercial solar energy system improvements in counties with fewer than 3,000,000 inhabitants is determined by subtracting the allowance for physical depreciation from the trended real property cost basis.