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]

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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

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