94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4312

 

Introduced 12/27/2005, by Rep. Carolyn H. Krause

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/216 new

    Amends the Illinois Income Tax Act. Provides that each individual taxpayer who, during the taxable year, purchases and installs a certified energy-efficient appliance is entitled to an income credit in an amount equal to the lesser of: (i) $0.48 per average first-year kilowatt hours saved, or the equivalent for other fuel saved, as estimated by the Department of Commerce and Economic Opportunity; or (ii) $1,200, but, in no case, however, may the credit exceed 25% of the cost of the appliance. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Provides that "energy-efficient appliance" means any clothes washer, clothes dryer, water heater, refrigerator, freezer, dishwasher, appliance designed to heat or cool a dwelling, or other major household appliance that, according to the standards set forth under the federal Energy Guide, has premium energy-efficient characteristics. Effective immediately.


LRB094 16198 RSP 51441 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB4312 LRB094 16198 RSP 51441 b

1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Income Tax Act is amended by adding
5 Section 216 as follows:
 
6     (35 ILCS 5/216 new)
7     Sec. 216. Credit for energy-efficient appliances.
8     (a) For taxable years ending on or after December 31, 2006
9 and on or before December 30, 2011, each individual taxpayer
10 who, during the taxable year, purchases and installs, in the
11 taxpayer's residence, a certified energy-efficient appliance
12 is entitled to a credit against the taxes imposed under
13 Subsections (a) and (b) of Section 201 in an amount set forth
14 under subsection (b).
15     (b) The amount of the credit under this Section is the
16 lesser of: (i) $0.48 per average first-year kilowatt hours
17 saved, or the equivalent for other fuel saved, as estimated by
18 the Department of Commerce and Economic Opportunity; or (ii)
19 $1,200. In no case, however, may the credit exceed 25% of the
20 cost of the appliance.
21     (c) The credit may not be carried forward or back. In no
22 event may a credit under this Section reduce the taxpayer's
23 liability to less than zero.
24     (d) For the purpose of this Section, an "energy-efficient
25 appliance" means any clothes washer, clothes dryer, water
26 heater, refrigerator, freezer, dishwasher, appliance designed
27 to heat or cool a dwelling, or other major household appliance
28 that, according to the standards set forth under the federal
29 Energy Guide, has premium energy-efficient characteristics.
 
30     Section 99. Effective date. This Act takes effect upon
31 becoming law.