94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4312


 
Introduced 12/27/2005, by Rep. Carolyn H. Krause
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 5/216 new










    Amends the Illinois Income Tax Act. Provides that each individual taxpayer who, during the taxable year, purchases and installs a certified energy-efficient appliance is entitled to an income credit in an amount equal to the lesser of: (i) $0.48 per average first-year kilowatt hours saved, or the equivalent for other fuel saved, as estimated by the Department of Commerce and Economic Opportunity; or (ii) $1,200, but, in no case, however, may the credit exceed 25% of the cost of the appliance. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Provides that "energy-efficient appliance" means any clothes washer, clothes dryer, water heater, refrigerator, freezer, dishwasher, appliance designed to heat or cool a dwelling, or other major household appliance that, according to the standards set forth under the federal Energy Guide, has premium energy-efficient characteristics. Effective immediately.
















LRB094 16198 RSP 51441 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB4312

LRB094 16198 RSP 51441 b






1
    AN ACT concerning revenue.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Illinois Income Tax Act is amended  by adding 
5
Section 216 as follows:
 
6
    (35 ILCS 5/216  new)
7
    Sec. 216. Credit for energy-efficient appliances.
8
    (a) For taxable years ending on or after December 31, 2006 
9
and on or before December 30, 2011, each individual taxpayer 
10
who, during the taxable year, purchases and installs, in the 
11
taxpayer's residence, a certified energy-efficient appliance 
12
is entitled to a credit against the taxes imposed under 
13
Subsections (a) and (b) of Section 201 in an amount set forth 
14
under subsection (b).
15
    (b) The amount of the credit under this Section is the 
16
lesser of: (i) $0.48 per average first-year kilowatt hours 
17
saved, or the equivalent for other fuel saved, as estimated by 
18
the Department of Commerce and Economic Opportunity; or (ii) 
19
$1,200. In no case, however, may the credit exceed 25% of the 
20
cost of the appliance.
21
    (c) The credit may not be carried forward  or  back.   In  no

22
event may a credit under this Section reduce the taxpayer's

23
liability to less than zero.
24
    (d) For the purpose of this Section, an "energy-efficient 
25
appliance" means any clothes washer, clothes dryer, water 
26
heater, refrigerator, freezer, dishwasher, appliance designed 
27
to heat or cool a dwelling, or other major household appliance 
28
that, according to the standards set forth under the federal 
29
Energy Guide, has premium energy-efficient characteristics.

 

30
    Section 99. Effective date. This Act takes effect upon 
31
becoming law.