Bill Status of HB2527 99th General Assembly
Short Description: INC TX-COMPOSTING
Rep. Michael W. Tryon and Steven A. Andersson
| 1/10/2017||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2015, each taxpayer is entitled to a credit in an amount equal to 50% of the costs incurred by the taxpayer during the taxable year under a contract with a commercial composting facility for the purpose of collecting the taxpayer's compostable garbage, landscape waste, and unused food, separate from the traditional garbage, for transportation to the facility for composting. Provides that the credit may not exceed $2,000 per taxpayer in any taxable year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.