IllinoisHB4058104th General Assembly (2025–2026)House

REVENUE-MEGAPROJECTS

Sponsored By: Jay Hoffman (Democratic)

In Committee

Summary

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity may certify a taxpayer for an exemption from any State or local use tax or retailers' occupation tax on building materials that will be incorporated into real estate at a megaproject site. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that a retailer that makes a qualified sale of building materials to be incorporated into real estate at a megaproject site may deduct the receipts from such sales when calculating the taxes imposed by those Acts. Amends the Property Tax Code. Creates the Megaproject Assessment Freeze and Payment Law. Provides that a "megaproject" is a project that meets certain investment and job creation specifications. Provides that the megaproject property is eligible for an assessment freeze. Provides that megaproject property may be granted an abatement. Provides that a company that operates a megaproject shall enter into an agreement with the municipality in which the project is located and other local taxing districts to make certain special payments. Effective July 1, 2025.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Jay Hoffman

    Democratic • House

Cosponsors

  • Kimberly Du Buclet

    Democratic • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. Kimberly Du Buclet

    9/30/2025House
  2. Referred to Rules Committee

    5/20/2025House
  3. First Reading

    5/20/2025House
  4. Filed with the Clerk by Rep. Jay Hoffman

    5/16/2025House

Bill Text

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