96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2456


 
Introduced 2/19/2009, by Rep. Michael J. Zalewski
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 5/218 new










    Amends the Illinois Income Tax Act. Authorizes a credit to taxpayers in an amount equal to 20% of the purchase price, but not to exceed $20,000, for each qualified green  dry cleaning machine placed in service by the taxpayer during the taxable year. To qualify, the dry cleaning machine must be certified by the council that manages the Illinois Drycleaner Environmental Response Trust Fund as a machine that uses environmentally friendly solvents. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back, but may be carried forward and applied to the tax liability of the 3 taxable years following the excess credit year. Effective immediately.
















LRB096 09533 RCE 19692 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB2456

LRB096 09533 RCE 19692 b






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    AN ACT concerning revenue.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Income Tax Act is amended  by adding 
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Section 218 as follows:
 
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    (35 ILCS 5/218  new)
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    Sec. 218. Credit for green dry cleaning machines.
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    (a) For each taxable year ending on or after December 31, 
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2009 and on or before December 30, 2015, each taxpayer is 
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entitled to a credit against the tax imposed by subsections (a) 
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and (b) of Section 201 of this Act in an amount equal to 20% of 
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the purchase price, but not to exceed $20,000, for each 
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qualified green dry cleaning machine placed in service by the 
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taxpayer during the taxable year. To qualify, the dry cleaning 
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machine must be certified by the council that manages the 
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Illinois Drycleaner Environmental Response Trust Fund as a 
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machine that uses environmentally friendly solvents. For 
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partners, shareholders of Subchapter S corporations, and 
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owners of limited liability companies, if the liability company 
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is treated as a partnership for purposes of federal and State 
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income taxation, there shall be allowed a credit under this 
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Section to be determined in accordance with the determination 
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of income and distributive share of income under Sections 702 
 


 






HB2456
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LRB096 09533 RCE 19692 b




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and 704 and Subchapter S of the Internal Revenue Code.
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    (b) In no event shall a credit under this Section reduce 
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the taxpayer's liability to less than zero. If the amount of 
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the credit exceeds the tax liability for the year, the excess 
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may not be carried carried back, but may be carried forward and 
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applied to the tax liability of the 3 taxable years following 
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the excess credit year. The credit shall be applied to the 
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earliest year for which there is a tax liability. If there are 
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credits for more than one year that are available to offset a 
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liability, the earlier credit shall be applied first.
 

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