Bill Status of HB2456 96th General Assembly
Short Description: INC TAX-GREEN DRY CLEANING
Rep. Michael J. Zalewski
| 1/11/2011||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Authorizes a credit to taxpayers in an amount equal to 20% of the purchase price, but not to exceed $20,000, for each qualified green dry cleaning machine placed in service by the taxpayer during the taxable year. To qualify, the dry cleaning machine must be certified by the council that manages the Illinois Drycleaner Environmental Response Trust Fund as a machine that uses environmentally friendly solvents. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back, but may be carried forward and applied to the tax liability of the 3 taxable years following the excess credit year. Effective immediately.