Bill Sponsors: IL HB1250 | 2023-2024 | 103rd General Assembly

Bill Title: Amends the Illinois Income Tax Act. Creates an energy price relief income tax credit. Sets forth the amount of the credit, which shall be a percentage of the total amount paid by the taxpayer during the taxable year for energy supplied to a property in the State. Provides that the Department of Commerce and Economic Opportunity may award no more than $50,000,000 in credits under these provisions in any fiscal year. Provides that the credit may be carried forward. Amends the Illinois Administrative Procedure Act to provide for emergency rulemaking. Effective immediately.

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced) 2023-11-08 - Added Co-Sponsor Rep. Dave Severin [HB1250 Detail]

Text: Latest bill text (Introduced) [HTML]

Sponsors

NameTypeSponsorshipDistrictFinancialEncyclopediaBiography
Representative Michael Marron [R]PrimarySponsored BillsHD-104FollowTheMoneyBallotpediaVoteSmart
Representative Tony McCombie [R]CosponsorSponsored BillsHD-089FollowTheMoneyBallotpediaVoteSmart
Representative Daniel Swanson [R]CosponsorSponsored BillsHD-071FollowTheMoneyBallotpediaVoteSmart
Representative Norine Hammond [R]CosponsorSponsored BillsHD-094FollowTheMoneyBallotpediaVoteSmart
Representative Tom Weber [R]CosponsorSponsored BillsHD-064FollowTheMoneyBallotpediaVoteSmart
Representative Dave Severin [R]CosponsorSponsored BillsHD-116FollowTheMoneyBallotpediaVoteSmart

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