Bill Status of HB 5855   97th General Assembly

Short Description:  INC TX-ALTERNATE ENERGY CREDIT

House Sponsors
Rep. Sandy Cole-Mike Fortner-Sidney H. Mathias-Wayne Rosenthal-Mike Bost, Paul Evans and Donald L. Moffitt

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/223 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides for a credit for taxpayers who, during the taxable year, install, on a building or property that is owned by the taxpayer and that is located in the State, a geothermal energy device and sets the amount of the credit at the lesser of (i) $5,000 or (ii) 50% of the actual cost of the acquisition and installation of the device. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.

Actions 
DateChamber Action
  2/16/2012HouseFiled with the Clerk by Rep. Sandy Cole
  2/16/2012HouseFirst Reading
  2/16/2012HouseReferred to Rules Committee
  2/24/2012HouseAdded Chief Co-Sponsor Rep. Mike Fortner
  2/24/2012HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias
  2/24/2012HouseAdded Chief Co-Sponsor Rep. Wayne Rosenthal
  2/24/2012HouseAdded Chief Co-Sponsor Rep. Mike Bost
  2/24/2012HouseAdded Co-Sponsor Rep. Paul Evans
  2/24/2012HouseAdded Co-Sponsor Rep. Donald L. Moffitt
  1/8/2013HouseSession Sine Die

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