Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Illinois Offers Tax Credits to Electric Car, Battery Makers

Nov. 16, 2021, 5:54 PM

Illinois will offer significant benefits to electric vehicle and battery manufacturers locating in the state under tax incentive legislation approved Tuesday by Gov. J.B. Pritzker.

Pritzker signed the Reimagining Electric Vehicles Act (H.B. 1769), a priority under his administration’s commitment to deploy one million electric vehicles across Illinois by 2030. The new law, he said, broadcasts the state’s role as “the best place in the nation to manufacture and drive an electric vehicle.”

  • The law offers tax credits to manufacturers of electric vehicles, vehicle component parts, and power supply equipment valued at 75% of the incremental income ...