iBIO promotes thoughtful legislative and regulatory solutions that allow our member companies to research, develop, and commercialize breakthrough therapies and cures, and to ensure patients have affordable access to those new treatments. Likewise, iBIO opposes policies that threaten patient access, limit innovation, or adversely impact the Illinois life sciences industry\u2019s competitiveness in the global economy.<\/p>\n
Last week the 2019 Spring Session in Springfield concluded.\u00a0Prior to adjournment, the General Assembly considered and acted upon several pieces of legislation that were heavily debated. Some of the issues considered and passed included the FY 2020 operating budget (SB 262<\/a>), FY 2020 capital appropriations (HB 62<\/a>), FY 2020 budget implementation\/revenue (SB 1814<\/a>), transportation funding (SB 1939<\/a>), additional bonding authority (HB 142<\/a>), recreational marijuana (HB 1438<\/a>), pro-business reforms (SB 689<\/a>) and gaming expansion\/vertical capital revenue (SB 690<\/a>). These issues will now be sent to the Governor for his consideration.<\/p>\n Prior to adjournment, the General Assembly also extended the current research and development tax credit through 2026; updated and revised the Manufacturers Purchase Credit; and phased out the corporate franchise tax over a five year period.<\/p>\n Furthermore, the General Assembly adopted a proposed\u00a0Constitutional Amendment\u00a0<\/a>that would allow for the state to implement a graduated income tax structure,\u00a0as well as a bill that would set the graduated rates (SB 687<\/a>). \u00a0The question of whether Illinois should implement a graduated income rate structure will be considered by Illinois voters\u00a0on the\u00a02020 General Election\u00a0ballot.<\/p>\n The\u00a0House<\/a>\u00a0and\u00a0Senate<\/a>\u00a0have scheduled the Fall Veto Session (i.e.\u00a0October 28-30<\/a>\u00a0and\u00a0November 12-14<\/a>).<\/p>\n Specific Issues and\/or Legislation iBIO Engaged with this Session<\/strong><\/p>\n Ethylene Oxide (EO)<\/em><\/p>\n Circumstances surrounding the Sterigenics facility in Willowbrook provided the backdrop for several legislative proposals during the 2019 Spring session.<\/p>\n SB 1852<\/a>\u00a0: Focuses on EO emitting sterilizers and requires the capture of fugitive and exhaust point emissions of EO. Passed both houses and is expected to be approved by the Governor.<\/p>\n SB 1854<\/a>\u00a0: Imposes new regulations on EO emitting manufacturing facilities. As written, however, SB1854 applies to only one facility located in Lake County. Passed both houses, and it will now be sent to the Governor for his consideration.<\/p>\n Tax Credits\u00a0<\/em><\/p>\n SB 1608<\/a>\u00a0: Updates Illinois\u2019 matching grant program for startup companies receiving federal and Small Business Innovation Research (SBIR) Awards. This iBIO initiative passed the Senate, but was not successful in the House. We continue our efforts and collaboration with the Department of Commerce and Economic Opportunity (DCEO) and the Office of the Governor.<\/p>\n SB 1115<\/a>\u00a0and\u00a0HB 2085<\/a>\u00a0: \u201cWater\u2019s Edge Tax Credit\u201d.\u00a0Provides for a water\u2019s edge apportionment election for certain members of a unitary business group. Provides that, with respect to foreign corporations that make a water\u2019s edge election, the deduction for dividends is limited to 75%. Neither bill advanced passed its chamber of origin.<\/p>\n Data Privacy Legislation\u00a0<\/em><\/p>\n Legislation imposing disclosure and other requirements in relation to geolocation; right to know; and microphones (recording devices) received much attention during the Spring session. (Example:\u00a0HB 3357<\/a>,\u00a0HB 3358<\/a>,\u00a0SB 1719<\/a>). While no \u201cprivacy legislation\u201d passed the Legislature during this this Spring session, these issues will most certainly be again considered next session.<\/p>\n EXPERRT Legislation<\/p>\n