Illinois 2025-2026 Regular Session

Illinois House Bill HB3419 Compare Versions

Only one version of the bill is available at this time.

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1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3419 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit for each taxpayer that manufactures renewable diesel in Illinois for use by a rail carrier. Provides that the amount of the credit is $1 per gallon of renewable diesel that is manufactured by the taxpayer in the State for use by a rail carrier. Effective immediately. LRB104 11395 HLH 21483 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3419 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit for each taxpayer that manufactures renewable diesel in Illinois for use by a rail carrier. Provides that the amount of the credit is $1 per gallon of renewable diesel that is manufactured by the taxpayer in the State for use by a rail carrier. Effective immediately. LRB104 11395 HLH 21483 b LRB104 11395 HLH 21483 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3419 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 5/246 new 35 ILCS 5/246 new
4	4	35 ILCS 5/246 new
5	5	Amends the Illinois Income Tax Act. Creates an income tax credit for each taxpayer that manufactures renewable diesel in Illinois for use by a rail carrier. Provides that the amount of the credit is $1 per gallon of renewable diesel that is manufactured by the taxpayer in the State for use by a rail carrier. Effective immediately.
6	6	LRB104 11395 HLH 21483 b LRB104 11395 HLH 21483 b
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11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Income Tax Act is amended by
15	15	5 adding Section 246 as follows:
16	16	6 (35 ILCS 5/246 new)
17	17	7 Sec. 246. Rail carrier renewable diesel tax credit.
18	18	8 (a) For taxable years beginning on or after January 1,
19	19	9 2027, each taxpayer that manufactures renewable diesel in
20	20	10 Illinois for use by a rail carrier is eligible for a credit
21	21	11 against the tax imposed by subsections (a) and (b) of Section
22	22	12 201 as provided in this Section.
23	23	13 The amount of the credit shall be $1 per gallon, or
24	24	14 fraction of a gallon, of renewable diesel that is manufactured
25	25	15 by the taxpayer in the State for use by a rail carrier.
26	26	16 (b) To qualify for the credit under this Section, the
27	27	17 taxpayer must retain in its books and records:
28	28	18 (1) records indicating the number of whole gallons of
29	29	19 renewable diesel manufactured by the taxpayer in Illinois
30	30	20 for use by a rail carrier; and
31	31	21 (2) a verification that the renewable diesel blended
32	32	22 by the taxpayer meets the definition of renewable diesel
33	33	23 set forth in this Section.
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3419 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 5/246 new 35 ILCS 5/246 new
39	39	35 ILCS 5/246 new
40	40	Amends the Illinois Income Tax Act. Creates an income tax credit for each taxpayer that manufactures renewable diesel in Illinois for use by a rail carrier. Provides that the amount of the credit is $1 per gallon of renewable diesel that is manufactured by the taxpayer in the State for use by a rail carrier. Effective immediately.
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68	68	1 The documentation must include detail sufficient for the
69	69	2 Department to determine the number of gallons of renewable
70	70	3 diesel manufactured in the State for use by rail carriers, as
71	71	4 well as any other information reasonably required by the
72	72	5 Department.
73	73	6 All documentation must be submitted to the Department in
74	74	7 the form and manner required by the Department and by the date
75	75	8 required by the Department.
76	76	9 (c) If the amount of the credit exceeds the taxpayer's tax
77	77	10 liability for the taxable year, the excess may be carried
78	78	11 forward and applied to the tax liability of the 10 taxable
79	79	12 years following the excess credit year. The credit shall be
80	80	13 applied to the earliest year for which there is a tax
81	81	14 liability. If there are credits from more than one tax year
82	82	15 that are available to offset a liability, the earlier credit
83	83	16 shall be applied first. In no event shall a credit under this
84	84	17 Section reduce the taxpayer's liability to less than zero.
85	85	18 (d) This Section is exempt from the provisions of Section
86	86	19 250.
87	87	20 (e) As used in this Section:
88	88	21 "Renewable diesel" means diesel fuel that is a hydrocarbon
89	89	22 fuel derived from biomass and that meets the requirements of
90	90	23 the latest version of ASTM standards D975 or D396.
91	91	24 "Rail carrier" means a Class I railroad, a Class II
92	92	25 railroad, or a Class III railroad, as defined in paragraph (1)
93	93	26 of 49 U.S.C. 20102.
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