Illinois legislation · 104th General Assembly
Illinois SB2721: REVENUE-SMALL NUCLEAR REACTOR
Status: Introduced, October 15, 2026
Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers that make an investment in the manufacture of a small modular nuclear reactor in the State during the taxable year. Provides that the amount of the credit is 20% of the amount of that investment. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that tangible personal property purchased for use in the construction or operation of a small modular nuclear reactor in the State is exempt from taxation under those Act. Effective immediately.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB2721Introduced 10/28/2025, by Sen. Sue RezinSYNOPSIS AS INTRODUCED: ILCS 5/246 new35 ILCS 105/3-535 ILCS 110/3-535 ILCS 115/3-535 ILCS 120/2-5 35 ILCS 5/246 new 35 ILCS 105/3-5 35 ILCS 110/3-5 35 ILCS 115/3-5 35 ILCS 120/2-5 ILCS 5/246 new ILCS 105/3-5 ILCS 110/3-5 ILCS 115/3-5 ILCS 120/2-5 Amends the Illinois Income Tax Act. Creates an income tax credit fortaxpayers that make an investment in the manufacture of a small modularnuclear reactor in the State during the taxable year…
From the introduced text, October 28, 2025:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB2721Introduced 10/28/2025, by Sen. Sue RezinSYNOPSIS AS INTRODUCED: ILCS 5/246 new35 ILCS 105/3-535 ILCS 110/3-535 ILCS 115/3-535 ILCS 120/2-5 35 ILCS 5/246 new 35 ILCS 105/3-5 35 ILCS 110/3-5 35 ILCS 115/3-5 35 ILCS 120/2-5 ILCS 5/246 new ILCS 105/3-5 ILCS 110/3-5 ILCS 115/3-5 ILCS 120/2-5 Amends the Illinois Income Tax Act. Creates an income tax credit fortaxpayers that make an investment in the manufacture of a small modularnuclear reactor in the State during the taxable year. Provides that theamount of the credit is 20% of the amount of that investment. Amends theUse Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, andthe Retailers' Occupation Tax Act. Provides that tangible personalproperty purchased for use in the construction or operation of a smallmodular nuclear reactor in the State is exempt from taxation under thoseAct. Effective immediately. LRB104 14845 HLH 27989 b LRB104 14845 HLH 27989 b LRB104 14845 HLH 27989 b A BILL FOR SB2721LRB104 14845 HLH 27989 b SB2721 LRB104 14845 HLH 27989 b SB2721 LRB104 14845 HLH 27989 b AN ACT concerning revenue. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section 5.The Illinois Income Tax Act is amended by adding Section 246 as follows: (35 ILCS …