Aid to Coal Plants Set to close

by Jan Frazier

Springfield, Illinois(Washington Insider Magazine) – Senate Bill 1747 – called the Illinois Energy Transition Zone Act – was introduced by Democratic Senator Melinda Bush. It was done to “incentivize green energy enterprises in areas previously reliant on coal and nuclear energy.”

Bush further proclaimed, “To protect our environment and stop global warming, we need to close coal plants. But as we make strides toward green energy, we can’t forget about the families who rely on these plants to put food on the table.”

To be eligible to be listed as an energy transition zone, the plant must have been a coal or nuclear energy plant, coal mine, or nuclear waste storage facility.

“Companies involved in the production of green energy – defined in the statute as solar, wind, water, geothermal, bioenergy or hydrogen fuel – qualify as a business that can benefit from the zones.” By working in these areas, there can be a number of tax advantages, including “exemption from state and local taxes on gas and electricity, as well as being exempt from use and occupation taxes when they purchase buildings in the zone for energy production.”

Several coal-fired power plants in Illinois are soon going to be closed. State Senator, Dave Koehler, has previously said that he has hope that the land will be used for renewable energy production. 

In addition, the Senate has also passed Bill 147, which amends Medicare. “The legislation would create a new Medicare enrollment period for Illinois residents between ages 65 and 75.” During their birthday month, the eligible people will be able to buy a Medicare supplement policy.

Other bills that were passed by the Senate were “legislation affecting homeownership insurance and vicious dogs, life insurance, and debris from demolished buildings.”

SOURCE

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