Illinois General Assembly - Bill Status for HB4578

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 the credit is exempt from the Act's automatic sunset provisions. Effective immediately.

Actions

Date	Chamber	Action
1/24/2024	House	Filed with the Clerk by Rep. Michael J. Kelly
1/31/2024	House	First Reading
1/31/2024	House	Referred to Rules Committee
2/28/2024	House	Assigned to Revenue & Finance Committee
3/8/2024	House	To Revenue-Income Tax Subcommittee
4/5/2024	House	Rule 19(a) / Re-referred to Rules Committee

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