Bill Status of HB 4578   103rd General Assembly


Short Description:  INC TX-FIRE SPRINKLERS

House Sponsors
Rep. Michael J. Kelly-Martin McLaughlin

Last Action  View All Actions

DateChamber Action
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/235 new

Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/24/2024HouseFiled with the Clerk by Rep. Michael J. Kelly
  1/31/2024HouseFirst Reading
  1/31/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Revenue & Finance Committee
  3/8/2024HouseTo Revenue-Income Tax Subcommittee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee
  5/8/2024HouseAdded Chief Co-Sponsor Rep. Martin McLaughlin

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