Bill Sponsors: IL HB4578 | 2023-2024 | 103rd General Assembly
Bill Title: 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.
Spectrum: Bipartisan Bill
Status: (Introduced) 2024-05-08 - Added Chief Co-Sponsor Rep. Martin McLaughlin [HB4578 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Bipartisan Bill
Status: (Introduced) 2024-05-08 - Added Chief Co-Sponsor Rep. Martin McLaughlin [HB4578 Detail]
Text: Latest bill text (Introduced) [HTML]
Sponsors
| Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
|---|---|---|---|---|---|---|
| Representative Michael Kelly [D] | Primary | Sponsored Bills | HD-015 | N/A | Ballotpedia | VoteSmart |
| Representative Martin McLaughlin [R] | Cosponsor | Sponsored Bills | HD-052 | FollowTheMoney | Ballotpedia | VoteSmart |
