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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3320 Introduced 2/19/2021, by Rep. David A. Welter SYNOPSIS AS INTRODUCED:
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Amends the Illinois Income Tax Act. Provides that the owner of a pollinator-friendly solar site is entitled to an income tax credit in the amount of $250 per taxable year.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB3320 | | LRB102 13738 HLH 19088 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Income Tax Act is amended by |
| 5 | | adding Section 232 as follows:
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| 6 | | (35 ILCS 5/232 new) |
| 7 | | Sec. 232. Pollinator-friendly solar site credit. |
| 8 | | (a) For taxable years ending on or after December 31, |
| 9 | | 2021, the owner of a pollinator-friendly solar site designated |
| 10 | | under the Pollinator-Friendly Solar Site Act is entitled to a |
| 11 | | credit against the tax imposed by subsections (a) and (b) of |
| 12 | | Section 201 in the amount of $250 per taxable year. |
| 13 | | (b) The credit or credits may not reduce the taxpayer's |
| 14 | | liability to less than zero. If the amount of the credit or |
| 15 | | credits exceeds the taxpayer's liability, the excess may be |
| 16 | | carried forward and applied against the taxpayer's liability |
| 17 | | for the next 5 succeeding calendar years. The credit or |
| 18 | | credits shall be applied to the earliest year for which there |
| 19 | | is a tax liability. If there are credits from more than one |
| 20 | | taxable year that are available to offset a liability, the |
| 21 | | earlier credit shall be applied first. |
| 22 | | (c) This Section is exempt from the provisions of Section |
| 23 | | 250.
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