SB 2898

This bill amends Illinois' Property Tax Extension Limitation Law (PTELL) to address how property tax abatements granted to nuclear facilities affect future tax levy calculations. Starting in levy year 2026, when a taxing district previously provided a property tax abatement to a nuclear facility under the Energy Community Reinvestment Act, the district's aggregate extension base (which determines future tax levy limits under PTELL) will be recalculated to include the amount that was abated, effectively treating the district as if it had collected those abated taxes. This change prevents taxing districts from permanently losing tax revenue capacity under PTELL's tax cap restrictions when they grant economic development incentives to nuclear facilities, allowing them to restore their full taxing authority once the abatement period ends.