GREEN ENERGY BUSINESS ACT Senate SponsorsSen. John M. Sullivan, Martin A. Sandoval, Ira I. Silverstein-Heather Steans and A. J. Wilhelmi House Sponsors(Rep. Barbara Flynn Currie) 5/31/2009HouseThird Reading - Short Debate - Lost 042-074-002 New Act35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 120/1dfrom Ch. 120, par. 440d35 ILCS 120/1efrom Ch. 120, par. 440e35 ILCS 120/1ffrom Ch. 120, par. 440f35 ILCS 120/5lfrom Ch. 120, par. 444l220 ILCS 5/9-222from Ch. 111 2/3, par. 9-222220 ILCS 5/9-222.1ACreates the Green Energy Business Act. Authorizes the Department of Commerce and Economic Opportunity to receive and approve the applications of qualified businesses seeking designation as Green Energy Businesses. Amends the Illinois Income Tax Act, the Retailers' Occupation Tax Act, and the Public Utilities Act to provide that Green Energy Businesses are eligible for certain credits and exemptions under those Acts. Effective immediately.House Committee Amendment No. 1 Deletes reference to:New Act35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 120/1dfrom Ch. 120, par. 440d35 ILCS 120/1efrom Ch. 120, par. 440e35 ILCS 120/1ffrom Ch. 120, par. 440f35 ILCS 120/5lfrom Ch. 120, par. 444l220 ILCS 5/9-222from Ch. 111 2/3, par. 9-222220 ILCS 5/9-222.1AAdds reference to:35 ILCS 200/15-65Deletes everything after the enacting clause. Amends the Property Tax Code. In a Section concerning exemptions for charitable purposes, provides that property that qualifies for an exemption under the Section shall not lose the exemption because the legal title is held by an entity that is organized as a limited liability company, in which the charitable organization is a managing member, for the purposes of owning and operating residential rental property that has received Low Income Housing Tax Credits under the Internal Revenue Code.House Floor Amendment No. 2 Deletes everything after the enacting clause. Reinserts the provisions of House Amendment 1. Further amends a Section of the Property Tax Code concerning exemptions for charitable purposes. Provides that property that is entitled to an exemption under the Section shall not lose the exemption because the legal title is held by a limited liability company, so long as (i) the limited liability company's sole member or members are the institutions of public charity that actually and exclusively use the property for charitable and beneficent purposes; (ii) the limited liability company is deemed exempt from income tax liability by virtue of the Internal Revenue Code Section 501(c)(3) status of its sole member or members; and (iii) the limited liability company does not lease the property or otherwise use it with a view to profit (now, the property shall not lose the exemption if (i) the limited liability company receives a notification from the Internal Revenue Service that it qualifies under paragraph (2) or (3) of Section 501(c) of the Internal Revenue Code; (ii) the limited liability company's sole member or members are the institutions of public charity that actually and exclusively use the property for charitable and beneficent purposes; and (iii) the limited liability company does not lease the property or otherwise use it with a view to profit). Effective immediately.House Floor Amendment No. 4 Deletes reference to:35 ILCS 200/16-35Adds reference to:35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/202.5 new35 ILCS 5/202.6 new35 ILCS 5/203from Ch. 120, par. 2-20335 ILCS 5/21235 ILCS 5/804from Ch. 120, par. 8-804Deletes everything after the enacting clause. Amends the Illinois Income Tax Act. For taxable years beginning on or after July 1, 2009 and ending prior to July 1, 2011, increases the rate of tax to (i) 4.5% for individuals, trusts, and estates and (ii) 7.2% for corporations. Provides that, for taxable years beginning after June 30, 2011, the tax rate shall be restored to (i) 3% for individuals, trusts, and estates and (ii) 4.8% for corporations. Makes adjustments concerning installment payments of an estimated tax. Makes changes to certain addition modifications and deductions concerning discharge of indebtedness and net operating losses. Increases the earned income credit from 5% of the federal credit to 7.5% for taxable years ending on or after December 31, 2009, and prior to December 31, 2010, and to 10% for taxable years ending on or after December 31, 2010. Effective immediately. 2/20/2009SenateFiled with Secretary by Sen. John M. Sullivan 2/20/2009SenateFirst Reading 2/20/2009SenateReferred to Assignments 3/4/2009SenateAssigned to Environment 3/11/2009SenateAdded as Chief Co-Sponsor Sen. Dale E. Risinger 3/12/2009SenateDo Pass Environment; 008-000-000 3/12/2009SenatePlaced on Calendar Order of 2nd Reading March 17, 2009 3/17/2009SenateAdded as Co-Sponsor Sen. Bill Brady 3/24/2009SenateSecond Reading 3/24/2009SenatePlaced on Calendar Order of 3rd Reading March 25, 2009 4/1/2009SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff 4/1/2009SenatePlaced on Calendar Order of 3rd Reading ** April 2, 2009 4/1/2009SenateAdded as Co-Sponsor Sen. Martin A. Sandoval 4/2/2009SenateAdded as Co-Sponsor Sen. Ira I. Silverstein 4/2/2009SenateAdded as Chief Co-Sponsor Sen. Heather Steans 4/2/2009SenateAdded as Co-Sponsor Sen. A. J. Wilhelmi 4/2/2009SenateAdded as Co-Sponsor Sen. Dave Syverson 4/2/2009SenateThird Reading - Passed; 059-000-000 4/3/2009HouseArrived in House 4/3/2009HousePlaced on Calendar Order of First Reading 4/3/2009HouseChief House Sponsor Rep. Frank J. Mautino 4/3/2009HouseAdded Alternate Chief Co-Sponsor Rep. Robert W. Pritchard 4/6/2009HouseFirst Reading 4/6/2009HouseReferred to Rules Committee 4/20/2009HouseAssigned to Revenue & Finance Committee 5/8/2009HouseRule 19(a) / Re-referred to Rules Committee 5/13/2009HouseAssigned to Revenue & Finance Committee 5/19/2009HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee 5/19/2009HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote 5/19/2009HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 007-000-000 5/19/2009HousePlaced on Calendar 2nd Reading - Short Debate 5/19/2009HouseAlternate Chief Sponsor Changed to Rep. Barbara Flynn Currie 5/19/2009HouseSecond Reading - Short Debate 5/19/2009HouseHeld on Calendar Order of Second Reading - Short Debate 5/21/2009HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Barbara Flynn Currie 5/21/2009HouseHouse Floor Amendment No. 2 Referred to Rules Committee 5/22/2009HouseFinal Action Deadline Extended-9(b) May 29, 2009 5/26/2009HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000 5/29/2009SenateSponsor Removed Sen. Bill Brady 5/29/2009HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Barbara Flynn Currie 5/29/2009HouseHouse Floor Amendment No. 3 Referred to Rules Committee 5/29/2009HouseHouse Floor Amendment No. 3 Rules Refers to Revenue & Finance Committee 5/29/2009HouseAlternate Chief Co-Sponsor Removed Rep. Robert W. Pritchard 5/29/2009HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. Barbara Flynn Currie 5/29/2009HouseHouse Floor Amendment No. 4 Referred to Rules Committee 5/29/2009HouseHouse Floor Amendment No. 4 Rules Refers to Revenue & Finance Committee 5/29/2009SenateSponsor Removed Sen. Dale E. Risinger 5/29/2009SenateSponsor Removed Sen. Pamela J. Althoff 5/29/2009SenateSponsor Removed Sen. Dave Syverson 5/29/2009HouseFinal Action Deadline Extended-9(b) May 31, 2009 5/30/2009HouseHouse Floor Amendment No. 4 Recommends Be Adopted Revenue & Finance Committee; 008-004-000 5/31/2009HouseHouse Floor Amendment No. 2 Adopted by Voice Vote 5/31/2009HouseHouse Floor Amendment No. 4 Adopted by Voice Vote 5/31/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/31/2009HouseThird Reading - Short Debate - Lost 042-074-002 5/31/2009HouseHouse Floor Amendment No. 3 Tabled Pursuant to Rule 40(a)