INC TX-MECHANICAL INSULATION Senate SponsorsSen. Michael E. Hastings, Scott M. Bennett and Bill Cunningham 1/9/2019SenateSession Sine Die 35 ILCS 5/203from Ch. 120, par. 2-203Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the product of the total capital expenditures incurred by the taxpayer for labor and materials to install mechanical insulation property during the taxable year multiplied by the applicable percentage. Provides that the applicable percentage is the lesser of: (i) 30%; or (ii) the difference between: (a) the energy savings, expressed as a percentage, obtained by placing the mechanical insulation property in service in connection with a mechanical system and (b) the energy savings, expressed as a percentage, that the property is required to meet by standard 90.1-2007, developed and published by the American Society of Heating, Refrigerating and Air-Conditioning Engineers. Effective immediately. 1/11/2017SenateFiled with Secretary by Sen. Michael E. Hastings 1/11/2017SenateFirst Reading 1/11/2017SenateReferred to Assignments 1/24/2017SenateAssigned to Revenue 2/7/2017SenateAdded as Co-Sponsor Sen. Scott M. Bennett 2/8/2017SenateAdded as Co-Sponsor Sen. Bill Cunningham 2/22/2017SenateTo Subcommittee on Income Taxes 3/17/2017SenateRule 3-9(a) / Re-referred to Assignments 1/9/2019SenateSession Sine Die