September 24, 2007
EXELON CORPORATION, ) Appeal from the
) Circuit Court of
Plaintiff-Appellant, ) Cook County.
ILLINOIS DEPARTMENT OF REVENUE, and )
BRIAN A. HAMER, as Director of )
Revenue, ) Honorable
) Sheldon Gardner,
Defendants-Appellees. ) Judge Presiding.
JUSTICE WOLFSON delivered the opinion of the court:
At issue in this case is whether Commonwealth Edison
(ComEd), a wholly-owned subsidiary of Exelon Corporation, as
successor to Unicom Corporation, is entitled to a tax credit for
investments in “qualified property” on its 1995 and 1996 tax
returns pursuant to section 201(e) of the Illinois Income Tax Act
(Act) (35 ILCS 5/201(e) (West 1994)). We also are asked to
consider whether section 201(e), as applied to gas and electric
utility providers, violates the uniformity clause of the Illinois
Constitution. The Department of Revenue rejected Exelon’s claims
and we agree.
In 1995 and 1996, ComEd invested nearly $3 billion in