<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for SB 318          </title>
<shortdesc>INC TX-SOUNDPROOFING</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. Laura M. Murphy</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/234 new</reference><aliasreference></aliasreference><SynopsisText>Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for the purpose of purchasing materials, labor, and professional services to soundproof a residential home located at an eligible address against aircraft noise generated by an airport governed by the provisions of the Permanent Noise Monitoring Act. Provides that the credit may not reduce the taxpayer's liability to less than zero. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/2/2023</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. Laura M. Murphy</action>
<statusdate>2/2/2023</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>2/2/2023</statusdate><chamber>Senate</chamber><action>Referred to Assignments</action>
<statusdate>2/7/2023</statusdate><chamber>Senate</chamber><action>Assigned to Revenue</action>
<statusdate>3/10/2023</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>1/10/2024</statusdate><chamber>Senate</chamber><action>Re-assigned to Revenue</action>
<statusdate>3/15/2024</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>1/7/2025</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

