Bill Status of HB4312 94th General Assembly
Short Description: INC TX-EFFICIENT APPLIANCES
Rep. Carolyn H. Krause - Sidney H. Mathias - Paul D. Froehlich - Sandra M. Pihos - Patricia R. Bellock and Robert W. Pritchard
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
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.