HB 2221 Illinois House · 103rd Regular Session

INC TX-FIRE SPRINKLERS

Summary

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.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2023

Committee Review

Floor Vote

Governor

Introduced Feb 8, 2023 Last action Mar 10, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 10, 2023

Committee

Rule 19(a) / Re-referred to Rules Committee

lower

Feb 23, 2023

Lower · Passed

To Revenue-Income Tax Subcommittee

lower

Feb 21, 2023

Committee

Assigned to Revenue & Finance Committee

lower

Feb 8, 2023

Committee

Referred to Rules Committee

lower

1 primary · 2 co-sponsors