PROP TX-WIND AND SOLAR-REPEAL

104th Regular Session Introduced by Chapin Rose

The bill repeals or modifies property tax incentives for wind and solar projects in Illinois, changing how these facilities are assessed and taxed.

Summary of SB 4005 (Illinois, 104th General Assembly)

Purpose and intent

SB 4005, titled PROP TX-WIND AND SOLAR-REPEAL, appears to focus on repealing or modifying provisions related to property tax incentives or exemptions for wind and solar energy facilities in Illinois. The bill is sponsored in part by Chapin Rose (co-sponsor). The overarching goal, based on the title, is to repeal or roll back existing wind- and solar-related property tax provisions, potentially affecting how renewable energy projects are assessed and taxed.

Key provisions and changes (as indicated by the bill’s title)

Repeal or modification of property tax preferences for wind and solar projects. This may involve removing statutory exemptions, credits, abatements, or favorable assessment treatments previously provided to wind and solar facilities.

Revisions to how wind and solar properties are classified or assessed for property tax purposes, which could alter tax rates, valuation methods, or exemption eligibility.

Potential alignment of state property tax rules with other measures or sunset provisions affecting renewable energy infrastructure.

(Note: The exact statutory text and detailed provisions would determine the precise scope, including which sections of law are repealed or amended, any transitional rules, and applicability to projects of certain sizes or dates.)

Who would be affected

Wind and solar energy facilities operating or pursuing development in Illinois that currently benefit from property tax incentives or favorable assessment treatment.

Property owners and developers of renewable energy projects.

Local taxing districts and municipalities that rely on property tax revenues from renewable energy installations.

Potentially, neighboring landowners or communities if changes influence revenue sharing or local incentives tied to wind/solar development.

Procedural and timeline considerations

As a bill in the Illinois General Assembly, it would proceed through committee referrals, potential amendments, and votes in both chambers followed by gubernatorial action.

If enacted, the changes would become effective according to the bill’s specified effective date, with any transition rules or phase-ins outlined in the text.

There may be savings clauses, sunset provisions, or grandfathering for projects authorized prior to the effective date; these details would depend on the enacted language.

Potential impacts to monitor

Tax revenue: Changes could increase or reduce property tax revenues for local governments and school districts, depending on the net effect on assessments and exemptions.

Investment and development: Repealing favorable tax treatment could influence the economics of new wind/solar projects and affect planned renewable energy capacity.

Local government planning: Shifts in revenue could impact budget planning and public services funded by property taxes.

If you can provide the bill’s full text or specific sections, I can refine this summary with precise sections repealed or amended, transitional provisions, and exact fiscal or regulatory effects.