HB5424 - INC TX-PFAS-FREE FIRE EQUIP
Illinois - 103rd General Assembly
Introduced byMichael J. Coffey
Last updated 8 months ago
1 Co-Sponsor
Amends the Illinois Income Tax Act. Creates an income tax credit for fire equipment distributors that are actively researching and developing alternative fire prevention equipment that contains no perfluoroalkyl or polyfluoroalkyl substances. Provides that the credit is in an amount equal to 75% of the amount expended during the taxable year to actively develop that equipment. Effective immediately.
STATUS
Introduced
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