Under a compromise reached between the energy industry and the Illinois General Assembly, companies would get a break on severance, or “extraction,” taxes if more than half their workers are from Illinois and receive prevailing wages. Click HERE for article
Here’s the text of the entire bill:
Including this key section:
Section 2-17. Local Workforce Tax Rate Reduction.
(a) The rate of tax imposed on working interest owners of a
well under Section 2-15 of this Act shall be reduced by 0.25%
for the life of the well when a minimum of 50% of the total
workforce hours on the well site are performed by Illinois
construction workers being paid wages equal to or exceeding the
general prevailing rate of hourly wages.