Bill Title: 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.

Spectrum: Bipartisan Bill

Status: (Introduced) 2024-05-08 - Added Chief Co-Sponsor Rep. Martin McLaughlin [HB4578 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Introduced	2024-01-24	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4578

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4578 currently on file.

Social Comments on IL HB4578