Illinois SB4203 amends data center tax incentives, requiring community benefit agreements and annual reporting.
Illinois SB4203 amends the Department of Commerce and Economic Opportunity Law to revise data center tax incentives. The bill requires data centers to enter into a memorandum of understanding with the Department of Commerce and Economic Opportunity, detailing capital investments, job creation timelines, and potential repayment obligations. Data centers must also execute a community benefit agreement with the host community, making annual minimum payments that cannot be credited against property taxes.
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