101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4231
 
Introduced 1/27/2020, by Rep. Joyce Mason
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/246 new

     Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers that own and operate a sanitary landfill in the State and incur noise mitigation costs during the taxable year in connection with that sanitary landfill. Provides that the taxpayer shall apply to the Illinois Environmental Protection Agency for the credit. Provides that the amount of the credit may not exceed 5% of the costs incurred during the taxable year for labor and materials in connection with those noise mitigation measures.
  


LRB101 16638 HLH 66023 b

FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB4231LRB101 16638 HLH 66023 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Illinois Income Tax Act is amended  by adding 
5Section 246 as follows:
 
6    (35 ILCS 5/246 new)
7    Sec. 246. Landfill noise mitigation credit.
8    (a) Notwithstanding any other provision of law, for taxable 
9years beginning on or after January 1, 2021, each taxpayer that 
10owns and operates a sanitary landfill in the State and incurs 
11noise mitigation costs during the taxable year in connection 
12with that sanitary landfill may apply to the Illinois 
13Environmental Protection Agency for a credit against the tax 
14imposed by subsections (a) and (b) of Section 201. The amount 
15of the credit may not exceed 5% of the costs incurred during 
16the taxable year for labor and materials in connection with 
17those noise mitigation measures. To be eligible for the credit, 
18the landfill must meet requirements set forth by the Illinois 
19Environmental Protection Agency for noise compliance. The 
20Department and the Illinois Environmental Protection Agency 
21may adopt rules for the implementation of this Section. 
22    (b) In no event shall a credit under this Section reduce 
23the taxpayer's liability to less than zero. If the amount of 
 
 
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1the credit exceeds the tax liability for the year, the excess 
2may be carried forward and applied to the tax liability of the 
35 taxable years following the excess credit year. The tax 
4credit shall be applied to the earliest year for which there is 
5a tax liability. If there are credits for more than one year 
6that are available to offset a liability, the earlier credit 
7shall be applied first. 
8    (c) This Section is exempt from the provisions Section 250.