ROCKFORD— Governor JB Pritzker Tuesday signed the Reimagining Electric Vehicles in Illinois Act into law, a bill encouraging EV production across Illinois. The legislation is part of Pritzker’s goal of putting one million electric vehicles on the road by 2030. The act includes tax credits for income tax withholding, training costs, tax exemptions, and investment credits, as well as allowing local jurisdictions to reduce property taxes for EV projects.
“We’re making clear to the world that Illinois is open for business and on track to be the best place in the nation to manufacture and drive an electric vehicle,” said Governor JB Pritzker.
The credits range from 75 percent to 100 percent of income tax withheld for creating new jobs or 25 percent to 50 percent for retained employees, depending on various factors such as company location.
