Illinois General Assembly - Bill Status for HB5424

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for fire equipment distributors that are actively researching and developing alternative fire prevention equipment that contains no perfluoroalkyl or polyfluoroalkyl substances. Provides that the credit is in an amount equal to 75% of the amount expended during the taxable year to actively develop that equipment. Effective immediately.

Actions

Date	Chamber	Action
2/9/2024	House	Filed with the Clerk by Rep. Michael J. Coffey, Jr.
2/9/2024	House	First Reading
2/9/2024	House	Referred to Rules Committee
2/28/2024	House	Assigned to Revenue & Finance Committee
3/8/2024	House	To Revenue-Income Tax Subcommittee
4/5/2024	House	Rule 19(a) / Re-referred to Rules Committee

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