By: Ashmar Mandou

In a step forward towards emerging electric vehicle (EV) manufacturing industry, Governor JB Pritzker on Wednesday signed an amendment to the Reimagining Electric Vehicles in Illinois Act into law, further incentivizing EV production across the state. “Here in Illinois, we are leading the electric vehicle revolution,” said Governor JB Pritzker, “Today’s REV amendment signing sends a clear message to EV manufacturers that we are the best place in the nation to call home, thanks to our competitive incentives and ambitious clean energy goals. It’s no wonder that companies like Lion Electric, TCCI, and Rivian have expanded their footprints throughout our state, and I look forward to welcoming more EV businesses to Illinois in the coming years.”

In addition to the Climate and Equitable Jobs Act, the Reimagining Electric Vehicles in Illinois Act (REV) is designed to “fight against climate change,” making the state a hub for EV and auto battery production. The new incentives offered through this legislation will support existing Illinois automakers seeking to transform their current plants into EV production plants, bolster the state’s entire EV ecosystem by giving manufacturers the ability to ramp up production of EV parts, and provide those manufacturers with additional flexibility in determining which incentives work best for them as the market evolves. Specifically, the tax credit available to Illinois automakers that retain employees as they transition to EV production is increased to 75 percent of their income tax at the statewide level and 100 percent of their income tax if they operate in an Underserved or Energy Transition Area.

The REV Illinois 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. Crucially, the legislation prioritizes underserved communities and communities impacted by energy transitions. “By signing this bill, we will be adding a level of protection and security to taxpayers in Illinois who are seeking exemptions during tax season,” said Senator Villanueva (D-Chicago). “Illinoisans with disabilities have long had to choose between saving for future care and qualifying for essential services. Extending ABLE gives them the freedom to save for care without losing benefits.”