IL HB2710 | 2025-2026 | 104th General Assembly
Status
Spectrum: Bipartisan Bill
Status: Introduced on February 4 2025 - 25% progression
Action: 2025-02-06 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 4 2025 - 25% progression
Action: 2025-02-06 - Referred to Rules Committee
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 credit awards under the amendatory Act shall be limited to the lesser of 2,000 credit awards per year or $8,000,000 in total credits per 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 |
---|---|---|
2025-02-06 | House | Referred to Rules Committee |
2025-02-06 | House | First Reading |
2025-02-05 | House | Added Chief Co-Sponsor Rep. Martin McLaughlin |
2025-02-04 | 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=2710&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
Text | https://www.ilga.gov/legislation/104/HB/10400HB2710.htm |