IL HB4578 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Bipartisan Bill
Status: Introduced on January 24 2024 - 25% progression
Action: 2024-05-08 - Added Chief Co-Sponsor Rep. Martin McLaughlin
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 24 2024 - 25% progression
Action: 2024-05-08 - Added Chief Co-Sponsor Rep. Martin McLaughlin
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who have an approved NFPA 13D residential fire sprinkler system installed in a new or existing residential dwelling in the State during the taxable year. Provides that the credit shall be in an amount equal to 50% of the total cost of the installation but not to exceed $10,000 per taxpayer in any taxable year. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.
Title
INC TX-FIRE SPRINKLERS
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-05-08 | House | Added Chief Co-Sponsor Rep. Martin McLaughlin |
| 2024-04-05 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2024-03-08 | House | To Revenue-Income Tax Subcommittee |
| 2024-02-28 | House | Assigned to Revenue & Finance Committee |
| 2024-01-31 | House | Referred to Rules Committee |
| 2024-01-31 | House | First Reading |
| 2024-01-24 | House | Filed with the Clerk by Rep. Michael J. Kelly |
Code Citations
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4578&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB4578.htm |
