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HB2710 - 104th General Assembly
INC TX-FIRE SPRINKLERS
Last Action
Statutes Amended In Order of Appearance
35 ILCS 5/246 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 credit awards under the amendatory Act shall be limited to the lesser of 2,000 credit awards per year or $8,000,000 in total credits per year. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/04/2025 | House | Filed with the Clerk by Rep. Michael J. Kelly |
| 2/05/2025 | House | Added Chief Co-Sponsor Rep. Martin McLaughlin |
| 2/06/2025 | House | First Reading |
| 2/06/2025 | House | Referred to Rules Committee |
| 3/04/2025 | House | Assigned to Revenue & Finance Committee |
| 3/06/2025 | House | To Tax Policy: Income Tax Subcommittee |
| 3/21/2025 | House | Rule 19(a) / Re-referred to Rules Committee |