Date	Chamber	Action
3/21/2025	House	Rule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance

New Act

5 ILCS 140/7.5

35 ILCS 5/246 new

Synopsis As Introduced
Creates the Short Line Railroad Infrastructure Modernization Act. Provides that (i) any railroad company that is located wholly or partly within the State and that is classified by the United States Surface Transportation Board as a Class II or a Class III railroad and (ii) any owner or lessee of a rail siding, industrial spur, or industry track located on or adjacent to any railroad in the State may apply to the Department of Transportation for an income tax credit. Provides that the amount of the credit shall be equal to 50% of the qualified railroad reconstruction or replacement expenditures incurred by the eligible taxpayer during the taxable year, but not to exceed certain specified limitations. Provides that the credit may be transferred to an eligible transferee. Amends the Freedom of Information Act and the Illinois Income Tax Act to make conforming changes. Effective immediately.

Actions 

Date	Chamber	Action
2/5/2025	House	Filed with the Clerk by Rep. Charles Meier
2/6/2025	House	First Reading
2/6/2025	House	Referred to Rules Committee
3/4/2025	House	Assigned to Revenue & Finance Committee
3/6/2025	House	To Tax Policy: Other Taxes Subcommittee
3/21/2025	House	Rule 19(a) / Re-referred to Rules Committee

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