Illinois 2025-2026 Regular Session

Illinois House Bill HB1202 Compare Versions

Only one version of the bill is available at this time.

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1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1202 Introduced , by Rep. Dave Severin SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates a credit for individual taxpayers in an amount equal to 100% of the eligible recycling costs incurred by the taxpayer during the taxable year, not to exceed $1,000 per taxpayer. Provides that "eligible recycling costs" means costs associated with the collection, separation, conversion, or treatment of recyclable solid waste materials, including, but not limited to, paper, glass, and plastic. LRB104 03348 HLH 13370 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1202 Introduced , by Rep. Dave Severin SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates a credit for individual taxpayers in an amount equal to 100% of the eligible recycling costs incurred by the taxpayer during the taxable year, not to exceed $1,000 per taxpayer. Provides that "eligible recycling costs" means costs associated with the collection, separation, conversion, or treatment of recyclable solid waste materials, including, but not limited to, paper, glass, and plastic. LRB104 03348 HLH 13370 b LRB104 03348 HLH 13370 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1202 Introduced , by Rep. Dave Severin SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 5/246 new 35 ILCS 5/246 new
4	4	35 ILCS 5/246 new
5	5	Amends the Illinois Income Tax Act. Creates a credit for individual taxpayers in an amount equal to 100% of the eligible recycling costs incurred by the taxpayer during the taxable year, not to exceed $1,000 per taxpayer. Provides that "eligible recycling costs" means costs associated with the collection, separation, conversion, or treatment of recyclable solid waste materials, including, but not limited to, paper, glass, and plastic.
6	6	LRB104 03348 HLH 13370 b LRB104 03348 HLH 13370 b
7	7	LRB104 03348 HLH 13370 b
8	8	A BILL FOR
9	9	HB1202LRB104 03348 HLH 13370 b HB1202 LRB104 03348 HLH 13370 b
10	10	HB1202 LRB104 03348 HLH 13370 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Income Tax Act is amended by
15	15	5 adding Section 246 as follows:
16	16	6 (35 ILCS 5/246 new)
17	17	7 Sec. 246. Solid waste recycling credit.
18	18	8 (a) For taxable years ending on or after December 31,
19	19	9 2025, each individual taxpayer is entitled to a credit against
20	20	10 the taxes imposed by subsections (a) and (b) of Section 201 in
21	21	11 an amount equal to 100% of the eligible recycling costs
22	22	12 incurred by the taxpayer during the taxable year, not to
23	23	13 exceed $1,000 per taxpayer.
24	24	14 (b) In no event shall a credit under this Section reduce
25	25	15 the taxpayer's liability to less than zero. If the amount of
26	26	16 the credit exceeds the tax liability for the year, the excess
27	27	17 may be carried forward and applied to the tax liability of the
28	28	18 5 taxable years following the excess credit year. The tax
29	29	19 credit shall be applied to the earliest year for which there is
30	30	20 a tax liability. If there are credits for more than one year
31	31	21 that are available to offset a liability, the earlier credit
32	32	22 shall be applied first.
33	33	23 (c) As used in this Section:
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1202 Introduced , by Rep. Dave Severin SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 5/246 new 35 ILCS 5/246 new
39	39	35 ILCS 5/246 new
40	40	Amends the Illinois Income Tax Act. Creates a credit for individual taxpayers in an amount equal to 100% of the eligible recycling costs incurred by the taxpayer during the taxable year, not to exceed $1,000 per taxpayer. Provides that "eligible recycling costs" means costs associated with the collection, separation, conversion, or treatment of recyclable solid waste materials, including, but not limited to, paper, glass, and plastic.
41	41	LRB104 03348 HLH 13370 b LRB104 03348 HLH 13370 b
42	42	LRB104 03348 HLH 13370 b
43	43	A BILL FOR
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