Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who replace a lead water service pipe with a copper water service pipe at a qualified residence. Provides that the credit shall be equal to the lesser of (i) 25% of the cost of replacing the lead water service pipes in each taxable year for which the credit is taken or (ii) $2,500 in each such taxable year. Provides that the credit may be taken for the taxable year in which the pipes are replaced and in each of the next 3 consecutive years. Provides that the term "qualified residence" means a single family residence that is owned and occupied by the taxpayer as his or her primary residence. Effective immediately.
Spectrum: Partisan Bill (Democrat 8-0)
Status: (Introduced - Dead) 2020-05-22 - Added Co-Sponsor Rep. Jonathan "Yoni" Pizer
[HB2128 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
Introduced | 2019-02-06 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
No bill amendments currently on file for Illinois HB2128 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
No supplemental documents for Illinois HB2128 currently on file. |
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