103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2804 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED: 35 ILCS 5/234 new Amends the Illinois Income Tax Act. Creates a credit for taxpayers that install an electric vehicle charging station at a business location in the State during the taxable year and use a contractor that participates in an apprenticeship program for the installation. Effective immediately. LRB103 27388 HLH 53760 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2804 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED: 35 ILCS 5/234 new 35 ILCS 5/234 new Amends the Illinois Income Tax Act. Creates a credit for taxpayers that install an electric vehicle charging station at a business location in the State during the taxable year and use a contractor that participates in an apprenticeship program for the installation. Effective immediately. LRB103 27388 HLH 53760 b LRB103 27388 HLH 53760 b A BILL FOR
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2804 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED:
35 ILCS 5/234 new 35 ILCS 5/234 new
35 ILCS 5/234 new
Amends the Illinois Income Tax Act. Creates a credit for taxpayers that install an electric vehicle charging station at a business location in the State during the taxable year and use a contractor that participates in an apprenticeship program for the installation. Effective immediately.
LRB103 27388 HLH 53760 b LRB103 27388 HLH 53760 b
LRB103 27388 HLH 53760 b
A BILL FOR
HB2804LRB103 27388 HLH 53760 b HB2804 LRB103 27388 HLH 53760 b
HB2804 LRB103 27388 HLH 53760 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
5 adding Section 234 as follows:
6 (35 ILCS 5/234 new)
7 Sec. 234. Electric vehicle charging stations.
8 (a) For taxable years beginning on or after January 1,
9 2024, each taxpayer that installs an electric vehicle charging
10 station at a business location in the State during the taxable
11 year and uses a contractor that participates in an
12 apprenticeship program for the installation is entitled to a
13 credit against the taxes imposed by subsections (a) and (b) of
14 Section 201 in an amount equal to the amount spent by the
15 taxpayer on the installation of the charging station.
16 (b) In no event shall a credit under this Section reduce
17 the taxpayer's liability to less than zero. If the amount of
18 the credit exceeds the tax liability for the year, the excess
19 may be carried forward and applied to the tax liability of the
20 5 taxable years following the excess credit year. The tax
21 credit shall be applied to the earliest year for which there is
22 a tax liability. If there are credits for more than one year
23 that are available to offset a liability, the earlier credit
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2804 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED:
35 ILCS 5/234 new 35 ILCS 5/234 new
35 ILCS 5/234 new
Amends the Illinois Income Tax Act. Creates a credit for taxpayers that install an electric vehicle charging station at a business location in the State during the taxable year and use a contractor that participates in an apprenticeship program for the installation. Effective immediately.
LRB103 27388 HLH 53760 b LRB103 27388 HLH 53760 b
LRB103 27388 HLH 53760 b
A BILL FOR
35 ILCS 5/234 new
LRB103 27388 HLH 53760 b
HB2804 LRB103 27388 HLH 53760 b
HB2804- 2 -LRB103 27388 HLH 53760 b HB2804 - 2 - LRB103 27388 HLH 53760 b
HB2804 - 2 - LRB103 27388 HLH 53760 b
1 shall be applied first.
2 (c) For partners of partnerships and shareholders of
3 Subchapter S corporations, there shall be allowed a credit
4 under this Section to be determined in accordance with the
5 determination of income and distributive share of income under
6 Sections 702 and 704 and Subchapter S of the Internal Revenue
7 Code.
8 (d) This Section is exempt from the provisions of Section
9 250.
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.
HB2804 - 2 - LRB103 27388 HLH 53760 b