Illinois General Assembly - Full Text of HB3320
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Full Text of HB3320  102nd General Assembly

HB3320 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3320

 

Introduced 2/19/2021, by Rep. David A. Welter

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/232 new

    Amends the Illinois Income Tax Act. Provides that the owner of a pollinator-friendly solar site is entitled to an income tax credit in the amount of $250 per taxable year.


LRB102 13738 HLH 19088 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3320LRB102 13738 HLH 19088 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Income Tax Act is amended by
5adding Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Pollinator-friendly solar site credit.
8    (a) For taxable years ending on or after December 31,
92021, the owner of a pollinator-friendly solar site designated
10under the Pollinator-Friendly Solar Site Act is entitled to a
11credit against the tax imposed by subsections (a) and (b) of
12Section 201 in the amount of $250 per taxable year.
13    (b) The credit or credits may not reduce the taxpayer's
14liability to less than zero. If the amount of the credit or
15credits exceeds the taxpayer's liability, the excess may be
16carried forward and applied against the taxpayer's liability
17for the next 5 succeeding calendar years. The credit or
18credits shall be applied to the earliest year for which there
19is a tax liability. If there are credits from more than one
20taxable year that are available to offset a liability, the
21earlier credit shall be applied first.
22    (c) This Section is exempt from the provisions of Section
23250.