HB1769sam004 102ND GENERAL ASSEMBLY

Sen. Steve Stadelman

Filed: 10/28/2021

10200HB1769sam004 LRB102 10422 HLH 30342 a

AMENDMENT TO HOUSE BILL 1769

AMENDMENT NO. ______. Amend House Bill 1769, AS AMENDED, with reference to page and line numbers of Senate Amendment No. 1, on page 4, line 14, by deleting "electric motorcycles or"; and

on page 4, line 22, by replacing "focused" with "primarily focused"; and

on page 20, line 9, by replacing "sound and" with "sound,"; and

on page 20, line 11, by replacing "employment and" with "employment, and will"; and

on page 21, line 17, after "Illinois" by inserting ", the Clean Jobs Workforce Network Program,"; and

on page 21, line 20, after "Training.", by inserting "An applicant is also eligible for a training credit that shall not exceed 10% of the training costs of retained employees for the purpose of upskilling to meet the operational needs of the applicant or the REV Illinois Project."; and

on page 22, line 12, by deleting "in any taxable year"; and

on page 23, lines 14 and 15, by deleting "in any taxable year"; and

on page 23, line 22, by replacing "approved by the Department of Labor" with "that conforms with the Project Labor Agreements Act"; and

by deleting line 17 on page 24 though line 3 on page 25; and

on page 30, immediately below line 7, by inserting the following:

"(20) Each taxpayer under paragraph (1) of subsection (c) of Section 20 above shall maintain labor neutrality toward any union organizing campaign for any employees of the taxpayer assigned to work on the premises of the REV Illinois Project Site. This paragraph shall not apply to an electric vehicle manufacturer, electric vehicle component part manufacturer, electric vehicle power supply manufacturer or any joint venture including an electric vehicle manufacturer, electric vehicle component part manufacturer, and electric vehicle power supply manufacturer, who is subject to collective bargaining agreement entered into prior to the taxpayer filing an application pursuant to this Act."; and

on page 30, line 22, after "taxpayer", by inserting "with a workforce of 100 or more employees and"; and

on page 31, by replacing lines 12 through 16 with the following:

"(b) Vendor diversity and annual report. Each taxpayer with a workforce of 100 or more full-time employees shall, starting on April 15, 2025 and every year thereafter for which the taxpayer has an Agreement under this Act, report on the diversity of the vendors that it utilizes, for publication on the Department's website, and include the following information:"; and

on page 36, line 10, by replacing "misdemeanor." with "misdemeanor and may be enforced by the Illinois Department of Labor or the Department. The Attorney General shall represented the Illinois Department of Labor or the Department in the proceeding."; and

on page 36, by replacing lines lines 20 through 21 with "The contractor or subcontractor shall submit reports to the Department of Labor electronically that meet the"; and

on page 42, lines 22 through 23, by replacing "this Act" with "the Illinois Income Tax Act"; and

on page 44, line 12, by deleting "electric motorcycles or"; and

on page 45, line 1, by deleting "at least"; and

on page 45, line 2, after the period, by inserting "The purchasing agency may require additional information from bidders or offerors to verify whether an electric vehicle is manufactured in Illinois as defined by this Section."; and

on page 45, line 4, by replacing "Section 704A" with "Sections 207 and 704A"; and

on page 45, immediately below line 5, by inserting the following:

"(35 ILCS 5/207) (from Ch. 120, par. 2-207)

Sec. 207. Net Losses.

(a) If after applying all of the (i) modifications provided for in paragraph (2) of Section 203(b), paragraph (2) of Section 203(c) and paragraph (2) of Section 203(d) and (ii) the allocation and apportionment provisions of Article 3 of this Act and subsection (c) of this Section, the taxpayer's net income results in a loss;

(1) for any taxable year ending prior to December 31, 1999, such loss shall be allowed as a carryover or carryback deduction in the manner allowed under Section 172 of the Internal Revenue Code;

(2) for any taxable year ending on or after December 31, 1999 and prior to December 31, 2003, such loss shall be allowed as a carryback to each of the 2 taxable years preceding the taxable year of such loss and shall be a net operating loss carryover to each of the 20 taxable years following the taxable year of such loss; and

(3) for any taxable year ending on or after December 31, 2003 and prior to December 31, 2021, such loss shall be allowed as a net operating loss carryover to each of the 12 taxable years following the taxable year of such loss, except as provided in subsection (d); and .

(4) for any taxable year ending on or after December 31, 2021, and for any net loss incurred in a taxable year prior to a taxable year ending on or after December 31, 2021 for which the statute of limitation for utilization of such net loss has not expired, such loss shall be allowed as a net operating loss carryover to each of the 20 taxable years following the taxable year of such loss, except as provided in subsection (d).

(a-5) Election to relinquish carryback and order of application of losses.

(A) For losses incurred in tax years ending prior to December 31, 2003, the taxpayer may elect to relinquish the entire carryback period with respect to such loss. Such election shall be made in the form and manner prescribed by the Department and shall be made by the due date (including extensions of time) for filing the taxpayer's return for the taxable year in which such loss is incurred, and such election, once made, shall be irrevocable.

(B) The entire amount of such loss shall be carried to the earliest taxable year to which such loss may be carried. The amount of such loss which shall be carried to each of the other taxable years shall be the excess, if any, of the amount of such loss over the sum of the deductions for carryback or carryover of such loss allowable for each of the prior taxable years to which such loss may be carried.

(b) Any loss determined under subsection (a) of this Section must be carried back or carried forward in the same manner for purposes of subsections (a) and (b) of Section 201 of this Act as for purposes of subsections (c) and (d) of Section 201 of this Act.

(c) Notwithstanding any other provision of this Act, for each taxable year ending on or after December 31, 2008, for purposes of computing the loss for the taxable year under subsection (a) of this Section and the deduction taken into account for the taxable year for a net operating loss carryover under paragraphs (1), (2), and (3) of subsection (a) of this Section, the loss and net operating loss carryover shall be reduced in an amount equal to the reduction to the net operating loss and net operating loss carryover to the taxable year, respectively, required under Section 108(b)(2)(A) of the Internal Revenue Code, multiplied by a fraction, the numerator of which is the amount of discharge of indebtedness income that is excluded from gross income for the taxable year (but only if the taxable year ends on or after December 31, 2008) under Section 108(a) of the Internal Revenue Code and that would have been allocated and apportioned to this State under Article 3 of this Act but for that exclusion, and the denominator of which is the total amount of discharge of indebtedness income excluded from gross income under Section 108(a) of the Internal Revenue Code for the taxable year. The reduction required under this subsection (c) shall be made after the determination of Illinois net income for the taxable year in which the indebtedness is discharged.

(d) In the case of a corporation (other than a Subchapter S corporation), no carryover deduction shall be allowed under this Section for any taxable year ending after December 31, 2010 and prior to December 31, 2012, and no carryover deduction shall exceed $100,000 for any taxable year ending on or after December 31, 2012 and prior to December 31, 2014 and for any taxable year ending on or after December 31, 2021 and prior to December 31, 2024; provided that, for purposes of determining the taxable years to which a net loss may be carried under subsection (a) of this Section, no taxable year for which a deduction is disallowed under this subsection, or for which the deduction would exceed $100,000 if not for this subsection, shall be counted.

(e) In the case of a residual interest holder in a real estate mortgage investment conduit subject to Section 860E of the Internal Revenue Code, the net loss in subsection (a) shall be equal to:

(1) the amount computed under subsection (a), without regard to this subsection (e), or if that amount is positive, zero;

(2) minus an amount equal to the amount computed under subsection (a), without regard to this subsection (e), minus the amount that would be computed under subsection (a) if the taxpayer's federal taxable income were computed without regard to Section 860E of the Internal Revenue Code and without regard to this subsection (e).

The modification in this subsection (e) is exempt from the provisions of Section 250.

(Source: P.A. 102-16, eff. 6-17-21.)"; and

on page 45, line 21, by deleting "of this Act"; and

on page 98, by replacing lines 11 through 13 with the following:

"No debit reduction or charge back of any item on a warranty repair order may be made absent a finding of fraud or illegal actions by the dealer."; and

on page 101, by replacing lines 17 through 25 with the following:

"vehicle franchiser. The requirements of this subsection (e) shall not apply to entire engine assemblies, propulsion engine assemblies, including electric vehicle batteries, and entire transmission assemblies. In the case of those assemblies, the motor vehicle franchiser shall reimburse the motor vehicle franchisee up to and including 30% of what the motor vehicle franchisee would have paid the motor vehicle franchiser for the assembly if the assembly had not been supplied by the franchiser other than by the sale of that assembly to the motor vehicle franchisee and entire transmission assemblies.".