Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who replace a lead water service pipe with a copper water service pipe at a qualified residence. Provides that the credit shall be equal to the lesser of (i) 25% of the cost of replacing the lead water service pipes in each taxable year for which the credit is taken or (ii) $2,500 in each such taxable year. Provides that the credit may be taken for the taxable year in which the pipes are replaced and in each of the next 3 consecutive years. Provides that the term "qualified residence" means a single family residence that is owned and occupied by the taxpayer as his or her primary residence. Effective immediately.

Spectrum: Partisan Bill (Democrat 8-0)

Status: (Introduced - Dead) 2020-05-22 - Added Co-Sponsor Rep. Jonathan "Yoni" Pizer [HB2128 Detail]

Text: Latest bill text (Introduced) [HTML]

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