Bill Status of HB 1250   103rd General Assembly

Short Description:  INC TX-ELECTRIC CREDIT

House Sponsors
Rep. Michael T. Marron, Tony M. McCombie, Dan Swanson, Norine K. Hammond, Tom Weber and Dave Severin

Last Action  View All Actions

DateChamber Action
  1/7/2025HouseSession Sine Die

Statutes Amended In Order of Appearance
5 ILCS 100/5-45.34 new
35 ILCS 5/240 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an energy price relief income tax credit. Sets forth the amount of the credit, which shall be a percentage of the total amount paid by the taxpayer during the taxable year for energy supplied to a property in the State. Provides that the Department of Commerce and Economic Opportunity may award no more than $50,000,000 in credits under these provisions in any fiscal year. Provides that the credit may be carried forward. Amends the Illinois Administrative Procedure Act to provide for emergency rulemaking. Effective immediately.

Actions 
DateChamber Action
  1/18/2023HouseFiled with the Clerk by Rep. Michael T. Marron
  1/31/2023HouseFirst Reading
  1/31/2023HouseReferred to Rules Committee
  5/9/2023HouseAdded Co-Sponsor Rep. Tony M. McCombie
  6/22/2023HouseAdded Co-Sponsor Rep. Dan Swanson
  8/8/2023HouseAdded Co-Sponsor Rep. Norine K. Hammond
  11/8/2023HouseAdded Co-Sponsor Rep. Tom Weber
  11/8/2023HouseAdded Co-Sponsor Rep. Dave Severin
  1/7/2025HouseSession Sine Die

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