IL SB1683 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Bipartisan Bill
Status: Introduced on February 8 2023 - 25% progression
Action: 2023-03-22 - Added as Co-Sponsor Sen. Sally J. Turner
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 8 2023 - 25% progression
Action: 2023-03-22 - Added as Co-Sponsor Sen. Sally J. Turner
Pending: Senate Assignments 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 the credit is exempt from the Act's automatic sunset provisions. Effective immediately.
Title
INC TX-FIRE SPRINKLERS
Sponsors
History
Date | Chamber | Action |
---|---|---|
2023-03-22 | Senate | Added as Co-Sponsor Sen. Sally J. Turner |
2023-03-10 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2023-02-21 | Senate | Assigned to Revenue |
2023-02-08 | Senate | Referred to Assignments |
2023-02-08 | Senate | First Reading |
2023-02-08 | Senate | Filed with Secretary by Sen. Robert F. Martwick |
Code Citations
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1683&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
Text | https://www.ilga.gov/legislation/103/SB/10300SB1683.htm |