IL
Illinois House Bill HB2417

Illinois 2023-2024 Regular Session

Illinois House Bill HB2417 Compare Versions

Only one version of the bill is available at this time.
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11 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2417 Introduced , by Rep. Ryan Spain SYNOPSIS AS INTRODUCED: New Act20 ILCS 605/605-1027 new30 ILCS 105/5.990 new30 ILCS 105/5.991 new30 ILCS 105/5.992 new35 ILCS 5/229.5 new Creates the Illinois Biomanufacturing Act. Establishes the Illinois Biomanufacturing Institute. Directs the Institute to cooperate with biomanufacturing centers in Illinois with the goal of making those centers into incubators of local job creation. Authorizes the Institute to receive financing from the General Assembly. Directs the Institute to prepare an annual report to the Governor and the General Assembly concerning its operations and other relevant information. Creates the Biomanufacturing Initiative Task Force and describes the duties of the Task Force. Directs the Department of Commerce and Economic Opportunity to provide administrative support to the Task Force. Directs the Task Force to prepare for the Institute, the Governor, and the General Assembly an annual report offering its advice on biomanufacturing-related research and development and making related recommendations. Creates the Biomanufacturing Equity Investment Fund, the Biomanufacturing Loan Fund, and the Biomanufacturing Grant Fund as special funds in the State treasury for specified purposes concerning investment in and funding of biomanufacturing centers. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides for tax credits for qualifying biomanufacturing centers. Provides further requirements concerning the issuance of the tax credit. Amends the State Finance Act to provide for specified special funds. Amends the Illinois Income Tax Act to provide for the biomanufacturing center tax credit. Defines terms. Effective immediately. LRB103 05079 HLH 50093 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2417 Introduced , by Rep. Ryan Spain SYNOPSIS AS INTRODUCED: New Act20 ILCS 605/605-1027 new30 ILCS 105/5.990 new30 ILCS 105/5.991 new30 ILCS 105/5.992 new35 ILCS 5/229.5 new New Act 20 ILCS 605/605-1027 new 30 ILCS 105/5.990 new 30 ILCS 105/5.991 new 30 ILCS 105/5.992 new 35 ILCS 5/229.5 new Creates the Illinois Biomanufacturing Act. Establishes the Illinois Biomanufacturing Institute. Directs the Institute to cooperate with biomanufacturing centers in Illinois with the goal of making those centers into incubators of local job creation. Authorizes the Institute to receive financing from the General Assembly. Directs the Institute to prepare an annual report to the Governor and the General Assembly concerning its operations and other relevant information. Creates the Biomanufacturing Initiative Task Force and describes the duties of the Task Force. Directs the Department of Commerce and Economic Opportunity to provide administrative support to the Task Force. Directs the Task Force to prepare for the Institute, the Governor, and the General Assembly an annual report offering its advice on biomanufacturing-related research and development and making related recommendations. Creates the Biomanufacturing Equity Investment Fund, the Biomanufacturing Loan Fund, and the Biomanufacturing Grant Fund as special funds in the State treasury for specified purposes concerning investment in and funding of biomanufacturing centers. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides for tax credits for qualifying biomanufacturing centers. Provides further requirements concerning the issuance of the tax credit. Amends the State Finance Act to provide for specified special funds. Amends the Illinois Income Tax Act to provide for the biomanufacturing center tax credit. Defines terms. Effective immediately. LRB103 05079 HLH 50093 b LRB103 05079 HLH 50093 b A BILL FOR
22 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2417 Introduced , by Rep. Ryan Spain SYNOPSIS AS INTRODUCED:
33 New Act20 ILCS 605/605-1027 new30 ILCS 105/5.990 new30 ILCS 105/5.991 new30 ILCS 105/5.992 new35 ILCS 5/229.5 new New Act 20 ILCS 605/605-1027 new 30 ILCS 105/5.990 new 30 ILCS 105/5.991 new 30 ILCS 105/5.992 new 35 ILCS 5/229.5 new
44 New Act
55 20 ILCS 605/605-1027 new
66 30 ILCS 105/5.990 new
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1010 Creates the Illinois Biomanufacturing Act. Establishes the Illinois Biomanufacturing Institute. Directs the Institute to cooperate with biomanufacturing centers in Illinois with the goal of making those centers into incubators of local job creation. Authorizes the Institute to receive financing from the General Assembly. Directs the Institute to prepare an annual report to the Governor and the General Assembly concerning its operations and other relevant information. Creates the Biomanufacturing Initiative Task Force and describes the duties of the Task Force. Directs the Department of Commerce and Economic Opportunity to provide administrative support to the Task Force. Directs the Task Force to prepare for the Institute, the Governor, and the General Assembly an annual report offering its advice on biomanufacturing-related research and development and making related recommendations. Creates the Biomanufacturing Equity Investment Fund, the Biomanufacturing Loan Fund, and the Biomanufacturing Grant Fund as special funds in the State treasury for specified purposes concerning investment in and funding of biomanufacturing centers. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides for tax credits for qualifying biomanufacturing centers. Provides further requirements concerning the issuance of the tax credit. Amends the State Finance Act to provide for specified special funds. Amends the Illinois Income Tax Act to provide for the biomanufacturing center tax credit. Defines terms. Effective immediately.
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1616 1 AN ACT concerning State government.
1717 2 Be it enacted by the People of the State of Illinois,
1818 3 represented in the General Assembly:
1919 4 Section 1. Short title. This Act may be cited as the
2020 5 Illinois Biomanufacturing Act.
2121 6 Section 5. Definitions. As used in this Act:
2222 7 "Biomanufacturing center" means a wholly-enclosed facility
2323 8 that contains tanks, boxes, or other sealed and enclosed
2424 9 spaces for biochemical production purposes and that has the
2525 10 primary purpose of using biological processes, entirely
2626 11 carried out in-house within the center, to manufacture
2727 12 products to be sold in a marketplace. "Biomanufacturing
2828 13 center" includes any production facility that complies with
2929 14 North American Industry Classification System (NAICS) codes
3030 15 325412 and 325414. "Biomanufacturing center" does not include
3131 16 a space used as a greenhouse or other space used to grow
3232 17 plants, such as cannabis or salad greens, that could
3333 18 physically be grown outdoors.
3434 19 "Department" means the Department of Commerce and Economic
3535 20 Opportunity.
3636 21 "Institute" means the Illinois Manufacturing Institute
3737 22 established under this Act.
3838 23 "Task Force" means the Biomanufacturing Initiative Task
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4242 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2417 Introduced , by Rep. Ryan Spain SYNOPSIS AS INTRODUCED:
4343 New Act20 ILCS 605/605-1027 new30 ILCS 105/5.990 new30 ILCS 105/5.991 new30 ILCS 105/5.992 new35 ILCS 5/229.5 new New Act 20 ILCS 605/605-1027 new 30 ILCS 105/5.990 new 30 ILCS 105/5.991 new 30 ILCS 105/5.992 new 35 ILCS 5/229.5 new
4444 New Act
4545 20 ILCS 605/605-1027 new
4646 30 ILCS 105/5.990 new
4747 30 ILCS 105/5.991 new
4848 30 ILCS 105/5.992 new
4949 35 ILCS 5/229.5 new
5050 Creates the Illinois Biomanufacturing Act. Establishes the Illinois Biomanufacturing Institute. Directs the Institute to cooperate with biomanufacturing centers in Illinois with the goal of making those centers into incubators of local job creation. Authorizes the Institute to receive financing from the General Assembly. Directs the Institute to prepare an annual report to the Governor and the General Assembly concerning its operations and other relevant information. Creates the Biomanufacturing Initiative Task Force and describes the duties of the Task Force. Directs the Department of Commerce and Economic Opportunity to provide administrative support to the Task Force. Directs the Task Force to prepare for the Institute, the Governor, and the General Assembly an annual report offering its advice on biomanufacturing-related research and development and making related recommendations. Creates the Biomanufacturing Equity Investment Fund, the Biomanufacturing Loan Fund, and the Biomanufacturing Grant Fund as special funds in the State treasury for specified purposes concerning investment in and funding of biomanufacturing centers. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides for tax credits for qualifying biomanufacturing centers. Provides further requirements concerning the issuance of the tax credit. Amends the State Finance Act to provide for specified special funds. Amends the Illinois Income Tax Act to provide for the biomanufacturing center tax credit. Defines terms. Effective immediately.
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8383 1 Force established under this Act.
8484 2 Section 10. Illinois Biomanufacturing Institute.
8585 3 (a) The Illinois Biomanufacturing Institute is hereby
8686 4 created and constituted as a public instrumentality under the
8787 5 jurisdiction of the Department of Commerce and Economic
8888 6 Opportunity. The exercise by the Institute of the powers
8989 7 conferred by this Act shall be considered to be the
9090 8 performance of an essential governmental function.
9191 9 (b) The Institute shall be governed and its corporate
9292 10 powers exercised by a Board of Directors consisting of 7
9393 11 directors as follows: (i) the Director of Commerce and
9494 12 Economic Opportunity, or his or her designee; (ii) the
9595 13 President of the University of Illinois, or his or her
9696 14 designee; and (iii) 5 persons with a background in
9797 15 biomanufacturing and biotechnology and representing the
9898 16 biomanufacturing industry, who shall be appointed by the
9999 17 Governor.
100100 18 The 5 directors appointed by the Governor shall constitute
101101 19 a quorum and the affirmative vote of a majority of directors
102102 20 present at a duly called meeting if a quorum is present shall
103103 21 be necessary for any action to be taken by the Board. Any
104104 22 action required or permitted to be taken at a meeting of the
105105 23 directors may be taken without a meeting if all of the
106106 24 directors consent in writing to that action and the written
107107 25 consent is filed with the records of the minutes of the
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118118 1 meetings of the Board. Such consent shall be treated for all
119119 2 purposes as a vote at a meeting.
120120 3 The members of the Board shall serve without compensation,
121121 4 but each member shall be entitled to reimbursement for his or
122122 5 her actual and necessary expenses incurred in the performance
123123 6 of his or her official duties.
124124 7 (c) The Institute shall be located in or near a major
125125 8 metropolitan area in the State that is easily accessible by
126126 9 common modes of transportation and has historic ties to
127127 10 biomanufacturing.
128128 11 (d) The Institute shall cooperate with all of the
129129 12 tax-eligible biomanufacturing centers of Illinois, with the
130130 13 goal of making these centers into incubators of local job
131131 14 creation throughout the State. The Institute is also
132132 15 encouraged, but not required, to cooperate with all Illinois
133133 16 institutions of higher education, including faculties of
134134 17 biochemistry and faculties of medical research, to develop
135135 18 cooperative programs of Illinois-based research, development,
136136 19 and production.
137137 20 (e) Subject to appropriation, the Institute shall receive
138138 21 funding for its start-up and operational purposes from funds
139139 22 made available for its purposes by the General Assembly, with
140140 23 the understanding that the Institute is mandated to take steps
141141 24 toward self-funding with the goal of becoming an autonomous,
142142 25 grant-supported think tank based in Illinois.
143143 26 (f) The Institute shall provide an annual report to the
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154154 1 Governor and the General Assembly concerning its operations
155155 2 and any other information it deems relevant.
156156 3 Section 15. Biomanufacturing Initiative Task Force.
157157 4 (a) There is hereby created the Biomanufacturing
158158 5 Initiative Task Force. The Task Force shall represent the
159159 6 interests of institutions of higher education and the
160160 7 biomanufacturing industry, and advise the Institute on
161161 8 biomanufacturing-related research and development and provide
162162 9 recommendations.
163163 10 (b) The Task Force shall, at a minimum, consist of members
164164 11 appointed by the Governor as follows: (i) a representative of
165165 12 Illinois universities; (ii) a representative of a public or
166166 13 private medical school; (iii) a representative of the Illinois
167167 14 biomanufacturing industry; and (iv) any other member that the
168168 15 Governor deems necessary and proper for the purposes of the
169169 16 Task Force. The Director of Commerce and Economic Opportunity,
170170 17 or his or her designee, shall also serve as a member of the
171171 18 Task Force. The Governor shall appoint a Chair for the Task
172172 19 Force.
173173 20 (c) The Task Force shall meet at least quarterly for the
174174 21 purpose of its duties under this Section.
175175 22 (d) Members of the Task Force shall serve without
176176 23 compensation.
177177 24 (e) The Department of Commerce and Economic Opportunity
178178 25 shall provide administrative and other support to the Task
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189189 1 Force.
190190 2 (f) The Task Force shall, at least annually and more
191191 3 frequently if it deems doing so is necessary, issue a report to
192192 4 the Institute, the Governor, and the General Assembly offering
193193 5 its advice on biomanufacturing-related research and
194194 6 development and making related recommendations.
195195 7 Section 20. Biomanufacturing Equity Investment Fund. The
196196 8 Biomanufacturing Equity Investment Fund is created as a
197197 9 special fund in the State treasury and may receive funds from
198198 10 any source, public or private, including moneys appropriated
199199 11 for use by the Department of Commerce and Economic
200200 12 Opportunity. Subject to appropriation, moneys in the Fund
201201 13 shall be used by the Department and the Institute to make
202202 14 qualified equity investments in Illinois-based
203203 15 biomanufacturing centers.
204204 16 Section 25. Biomanufacturing Loan Fund. The
205205 17 Biomanufacturing Loan Fund is created as a special fund in the
206206 18 State treasury and may receive funds from any source, public
207207 19 or private, including moneys appropriated for use by the
208208 20 Department of Commerce and Economic Opportunity. Subject to
209209 21 appropriation, moneys in the Fund shall be used by the
210210 22 Department and the Institute to make qualified loans to
211211 23 Illinois-based biomanufacturing centers for the start-up and
212212 24 operation of such centers, and for any other related purposes
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223223 1 as determined by the Department. The repayment of loans issued
224224 2 under this Section shall be as prescribed by the Department.
225225 3 Section 30. Biomanufacturing Grant Fund. The
226226 4 Biomanufacturing Grant Fund is created as a special fund in
227227 5 the State treasury and may receive funds from any source,
228228 6 public or private, including moneys appropriated for use by
229229 7 the Department of Commerce and Economic Opportunity. Subject
230230 8 to appropriation, moneys in the Fund shall be used by the
231231 9 Department and the Institute to make grants to Illinois-based
232232 10 biomanufacturing centers to stimulate increased financing for
233233 11 biomanufacturing technology, research, and development, and
234234 12 for any other related purposes as determined by the
235235 13 Department.
236236 14 Section 35. Rules. The Department shall adopt all rules
237237 15 necessary for the implementation of this Act.
238238 16 Section 900. The Department of Commerce and Economic
239239 17 Opportunity Law of the Civil Administrative Code of Illinois
240240 18 is amended by adding Section 605-1027 as follows:
241241 19 (20 ILCS 605/605-1027 new)
242242 20 Sec. 605-1027. Biomanufacturing center investment.
243243 21 (a) The Department shall issue a credit certification
244244 22 against the taxes imposed under subsections (a) and (b) of
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255255 1 Section 201 of the Illinois Income Tax Act to qualifying
256256 2 biomanufacturing centers. For taxable years beginning on or
257257 3 after January 1, 2023, the Department shall award credits, in
258258 4 an amount as determined by the Department, against the taxes
259259 5 imposed under subsections (a) and (b) of Section 201 of the
260260 6 Illinois Income Tax Act as provided in Section 229.5 of the
261261 7 Illinois Income Tax Act.
262262 8 (b) For purposes of this Section:
263263 9 "Biomanufacturing center" means a wholly-enclosed facility
264264 10 that contains tanks, boxes, or other sealed and enclosed
265265 11 spaces for biochemical production purposes and that has the
266266 12 primary purpose of using biological processes, entirely
267267 13 carried out in-house within the center, to manufacture
268268 14 products to be sold in a marketplace. "Biomanufacturing
269269 15 center" includes any production facility that complies with
270270 16 North American Industry Classification System (NAICS) codes
271271 17 325412 and 325414. "Biomanufacturing center" does not include
272272 18 a space used as a greenhouse or other space used to grow
273273 19 plants, such as cannabis or salad greens, that could
274274 20 physically be grown outdoors.
275275 21 "Full-time equivalent job" means a job in which the new
276276 22 employee works for the owner, operator, contractor, or tenant
277277 23 of a biomanufacturing center or for a corporation under
278278 24 contract with the owner, operator, or tenant of a center for at
279279 25 least 35 hours per week.
280280 26 "Qualifying biomanufacturing center" means a new or
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291291 1 existing biomanufacturing center that:
292292 2 (1) is located in the State of Illinois;
293293 3 (2) makes or has made a capital investment of at least
294294 4 $2,000,000 collectively over a 2-year period;
295295 5 (3) results, over a period of 5 years, in the creation
296296 6 of at least 20 full-time or full-time equivalent jobs that
297297 7 each have a total compensation that is equal to or greater
298298 8 than 120% of the average wage paid to full-time employees
299299 9 in the county where the data center is located, as
300300 10 determined using data supplied by the U.S. Bureau of Labor
301301 11 Statistics; and
302302 12 (4) certifies to the Department, within 2 years after
303303 13 being placed in service, that it is carbon neutral or has
304304 14 attained green building standards certification from a
305305 15 Department-approved entity.
306306 16 (c) Biomanufacturing centers seeking a tax credit
307307 17 certification shall apply to the Department in the manner
308308 18 specified by the Department. The Department and any center
309309 19 seeking the certification must enter into a memorandum of
310310 20 understanding that at a minimum provides:
311311 21 (1) the details for determining the amount of capital
312312 22 investment to be made;
313313 23 (2) the number of new jobs created;
314314 24 (3) the timeline for achieving the capital investment
315315 25 and new job goals;
316316 26 (4) the repayment obligation should those goals not be
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327327 1 achieved and any conditions under which repayment by the
328328 2 qualifying biomanufacturing center will be required; and
329329 3 (5) other provisions deemed necessary by the
330330 4 Department.
331331 5 (d) Any qualifying biomanufacturing center issued a tax
332332 6 credit certification under this Section must annually submit a
333333 7 private, sealed report on its operations to the Department.
334334 8 The Department shall then issue an annual public report to the
335335 9 Governor and the General Assembly concerning the program
336336 10 established under this Section. The public report issued by
337337 11 the Department shall, at a minimum, contain cumulative data
338338 12 sets that will mask the specific data submitted by each
339339 13 biomanufacturing center about its own operations.
340340 14 (e) In administering the requirements of this Section, the
341341 15 Department shall consult with the Illinois Biomanufacturing
342342 16 Institute and the Biomanufacturing Initiative Task Force
343343 17 created under the Illinois Biomanufacturing Act.
344344 18 (f) The Department shall not issue any new tax credit
345345 19 certification under the provisions of this Section after tax
346346 20 year 2040, unless the General Assembly otherwise approves an
347347 21 extension of the tax credit provided under this Section.
348348 22 (g) The Department shall adopt rules to implement and
349349 23 administer this Section.
350350 24 Section 905. The State Finance Act is amended by adding
351351 25 Sections 5.990, 5.991, and 5.992 as follows:
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362362 1 (30 ILCS 105/5.990 new)
363363 2 Sec. 5.990. The Biomanufacturing Equity Investment Fund.
364364 3 (30 ILCS 105/5.991 new)
365365 4 Sec. 5.991. The Biomanufacturing Loan Fund.
366366 5 (30 ILCS 105/5.992 new)
367367 6 Sec. 5.992. The Biomanufacturing Grant Fund.
368368 7 Section 910. The Illinois Income Tax Act is amended by
369369 8 adding Section 229.5 as follows:
370370 9 (35 ILCS 5/229.5 new)
371371 10 Sec. 229.5. Biomanufacturing center tax credit.
372372 11 (a) A taxpayer who has been awarded a credit by the
373373 12 Department of Commerce and Economic Opportunity under Section
374374 13 605-1027 of the Department of Commerce and Economic
375375 14 Opportunity Law of the Civil Administrative Code of Illinois
376376 15 is entitled to a credit against the taxes imposed under
377377 16 subsections (a) and (b) of Section 201 of this Act in an amount
378378 17 determined under that Act by the Department of Commerce and
379379 18 Economic Opportunity.
380380 19 (b) If the taxpayer is a partnership, a Subchapter S
381381 20 corporation, or a limited liability company that has elected
382382 21 partnership tax treatment, the credit shall be allowed to the
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393393 1 partners, shareholders, or members in accordance with the
394394 2 determination of income and distributive share of income under
395395 3 Sections 702 and 704 and subchapter S of the Internal Revenue
396396 4 Code, as applicable.
397397 5 (c) In no event shall a credit under this Section reduce
398398 6 the taxpayer's liability to less than zero. If the amount of
399399 7 the credit exceeds the tax liability for the year, then the
400400 8 excess credit shall be refunded to the taxpayer.
401401 9 (d) No credit shall be allowed with respect to any
402402 10 certification for any taxable year ending after the revocation
403403 11 of the certification by the Department of Commerce and
404404 12 Economic Opportunity. Upon receiving notification by the
405405 13 Department of Commerce and Economic Opportunity of the
406406 14 revocation of certification, the Department shall notify the
407407 15 taxpayer that no credit is allowed for any taxable year ending
408408 16 after the revocation date, as stated in such notification. If
409409 17 any credit has been allowed with respect to a certification
410410 18 for a taxable year ending after the revocation date, any
411411 19 refund paid to the taxpayer for that taxable year shall, to the
412412 20 extent of that credit allowed, be an erroneous refund within
413413 21 the meaning of Section 912 of this Act.
414414 22 (e) This Section is exempt from the provisions of Section
415415 23 250 of this Act.
416416 24 (f) The Department, in cooperation with the Department of
417417 25 Commerce and Economic Opportunity, shall adopt rules to
418418 26 enforce and administer this Section.
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429429 1 Section 999. Effective date. This Act takes effect upon
430430 2 becoming law.
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