Bill Title: Amends the Illinois Income Tax Act. Provides for a credit for taxpayers who, during the taxable year, install, on a building or property that is owned by the taxpayer and that is located in the State, a geothermal energy device and sets the amount of the credit at the lesser of (i) $5,000 or (ii) 50% of the actual cost of the acquisition and installation of the device. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.

Spectrum: Moderate Partisan Bill (Republican 6-1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5855 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Sandy Cole [R]	Primary	Sponsored Bills	HD-062	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mike Fortner [R]	Cosponsor	Sponsored Bills	HD-049	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sidney Mathias [R]	Cosponsor	Sponsored Bills	HD-053	FollowTheMoney	Ballotpedia	VoteSmart
Representative Wayne Rosenthal [R]	Cosponsor	Sponsored Bills	HD-108	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mike Bost [R]	Cosponsor	Sponsored Bills	HD-115	FollowTheMoney	Ballotpedia	VoteSmart
Representative Paul Evans [D]	Cosponsor	Sponsored Bills	HD-102	FollowTheMoney	Ballotpedia	VoteSmart
Representative Donald Moffitt [R]	Cosponsor	Sponsored Bills	HD-074	FollowTheMoney	Ballotpedia	VoteSmart

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