102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB2202
 
Introduced 2/26/2021, by Sen. Elgie R. Sims, Jr.
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/232 new

     Amends the Illinois Income Tax Act. Creates an income tax credit for a taxpayer who purchases a manufactured home during the taxable year if: (i) the purchase is the first purchase of the manufactured home for use as a dwelling; and (ii) the taxpayer certifies that, within 30 days after the retail sale, the manufactured home will be affixed to a permanent foundation in the State so that the manufactured home is deemed to be real property. Provides that the credit shall be 50% of the purchase price of the manufactured home. Effective immediately.
  


LRB102 15832 HLH 21201 b

 
 
A BILL FOR
 

  
SB2202LRB102 15832 HLH 21201 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  


 
4    Section 5. The Illinois Income Tax Act is amended  by 
5adding Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Manufactured home credit.
8    (a) For taxable years beginning on or after January 1, 
92022, each taxpayer who purchases a manufactured home during 
10the taxable year is entitled to a credit against the taxes 
11imposed by subsections (a) and (b) of Section 201 in an amount 
12equal to 50% of the purchase price of the manufactured home if: 
13(i) the purchase is the first purchase of the manufactured 
14home for use as a dwelling; and (ii) the taxpayer certifies to 
15the Department that, within 30 days after the retail sale, the 
16manufactured home will be affixed to a permanent foundation in 
17the State so that the manufactured home is deemed to be real 
18property under the Conveyance and Encumbrance of Manufactured 
19Homes as Real Property and Severance Act. 
20    (b) In no event shall a credit under this Section reduce 
21the taxpayer's liability to less than zero. If the amount of 
22the credit exceeds the tax liability for the year, the excess 
23may be carried forward and applied to the tax liability of the 
 
 
SB2202- 2 -LRB102 15832 HLH 21201 b

15 taxable years following the excess credit year. The tax 
2credit shall be applied to the earliest year for which there is 
3a tax liability. If there are credits for more than one year 
4that are available to offset a liability, the earlier credit 
5shall be applied first. 
6    (c) As used in this Section, "manufactured home" means a 
7structure built on a permanent chassis that: 
8        (1) is designed to be used as a dwelling; 
9        (2) is transportable in one or more sections; 
10        (3) contains plumbing, heating, air conditioning, and 
11    electrical systems; and 
12        (4) is designed to have an angled roof and contain an 
13    area of at least 650 square feet. 
14    (d) This Section is exempt from the provisions of Section 
15250. 
 

16    Section 99. Effective date. This Act takes effect upon 
17becoming law.