Bill Text: IL HB2804 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates a credit for taxpayers that install an electric vehicle charging station at a business location in the State during the taxable year and use a contractor that participates in an apprenticeship program for the installation. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2023-02-16 - Referred to Rules Committee [HB2804 Detail]

Download: Illinois-2023-HB2804-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2804 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED:
35 ILCS 5/234 new
Amends the Illinois Income Tax Act. Creates a credit for taxpayers that install an electric vehicle charging station at a business location in the State during the taxable year and use a contractor that participates in an apprenticeship program for the installation. Effective immediately.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by
adding Section 234 as follows:
(35 ILCS 5/234 new)
Sec. 234. Electric vehicle charging stations.
(a) For taxable years beginning on or after January 1,
2024, each taxpayer that installs an electric vehicle charging
station at a business location in the State during the taxable
year and uses a contractor that participates in an
apprenticeship program for the installation is entitled to a
credit against the taxes imposed by subsections (a) and (b) of
Section 201 in an amount equal to the amount spent by the
taxpayer on the installation of the charging station.
(b) In no event shall a credit under this Section reduce
the taxpayer's liability to less than zero. If the amount of
the credit exceeds the tax liability for the year, the excess
may be carried forward and applied to the tax liability of the
5 taxable years following the excess credit year. The tax
credit shall be applied to the earliest year for which there is
a tax liability. If there are credits for more than one year
that are available to offset a liability, the earlier credit

HB2804 - 2 - LRB103 27388 HLH 53760 b
shall be applied first.
(c) For partners of partnerships and shareholders of
Subchapter S corporations, there shall be allowed a credit
under this Section to be determined in accordance with the
determination of income and distributive share of income under
Sections 702 and 704 and Subchapter S of the Internal Revenue
Code.
(d) This Section is exempt from the provisions of Section
250.
Section 99. Effective date. This Act takes effect upon
becoming law.