IL SB0318 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 2 2023 - 25% progression
Action: 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for the purpose of purchasing materials, labor, and professional services to soundproof a residential home located at an eligible address against aircraft noise generated by an airport governed by the provisions of the Permanent Noise Monitoring Act. Provides that the credit may not reduce the taxpayer's liability to less than zero. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.

Tracking Information

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Title

INC TX-SOUNDPROOFING

Sponsors


History

DateChamberAction
2024-03-15SenateRule 3-9(a) / Re-referred to Assignments
2024-01-10SenateRe-assigned to Revenue
2023-03-10SenateRule 3-9(a) / Re-referred to Assignments
2023-02-07SenateAssigned to Revenue
2023-02-02SenateReferred to Assignments
2023-02-02SenateFirst Reading
2023-02-02SenateFiled with Secretary by Sen. Laura M. Murphy

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355234New CodeSee Bill Text

Illinois State Sources


Bill Comments

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