Illinois 2025-2026 Regular Session

Illinois House Bill HB2710 Compare Versions

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

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2710 Introduced , by Rep. Michael J. Kelly SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who have an approved NFPA 13D residential fire sprinkler system installed in a new or existing residential dwelling in the State during the taxable year. Provides that the credit shall be in an amount equal to 50% of the total cost of the installation but not to exceed $10,000 per taxpayer in any taxable year. Provides that credit awards under the amendatory Act shall be limited to the lesser of 2,000 credit awards per year or $8,000,000 in total credits per year. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately. LRB104 08222 HLH 19478 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2710 Introduced , by Rep. Michael J. Kelly SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who have an approved NFPA 13D residential fire sprinkler system installed in a new or existing residential dwelling in the State during the taxable year. Provides that the credit shall be in an amount equal to 50% of the total cost of the installation but not to exceed $10,000 per taxpayer in any taxable year. Provides that credit awards under the amendatory Act shall be limited to the lesser of 2,000 credit awards per year or $8,000,000 in total credits per year. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately. LRB104 08222 HLH 19478 b LRB104 08222 HLH 19478 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2710 Introduced , by Rep. Michael J. Kelly 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 an income tax credit for taxpayers who have an approved NFPA 13D residential fire sprinkler system installed in a new or existing residential dwelling in the State during the taxable year. Provides that the credit shall be in an amount equal to 50% of the total cost of the installation but not to exceed $10,000 per taxpayer in any taxable year. Provides that credit awards under the amendatory Act shall be limited to the lesser of 2,000 credit awards per year or $8,000,000 in total credits per year. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.
6	6	LRB104 08222 HLH 19478 b LRB104 08222 HLH 19478 b
7	7	LRB104 08222 HLH 19478 b
8	8	A BILL FOR
9	9	HB2710LRB104 08222 HLH 19478 b HB2710 LRB104 08222 HLH 19478 b
10	10	HB2710 LRB104 08222 HLH 19478 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. Residential fire sprinkler installation credit.
18	18	8 (a) For taxable years ending on or after December 31,
19	19	9 2027, each taxpayer who has an approved NFPA 13D residential
20	20	10 fire sprinkler system installed by a licensed fire sprinkler
21	21	11 contractor maintaining a valid license pursuant to the Fire
22	22	12 Sprinkler Contractor Licensing Act in a new or existing
23	23	13 residential dwelling in the State during the taxable year
24	24	14 shall be eligible, subject to the limitations in subsection
25	25	15 (b), for a credit against the taxes imposed by subsections (a)
26	26	16 and (b) of Section 201 in an amount equal to 50% of the total
27	27	17 cost of the installation but not to exceed $10,000 per
28	28	18 taxpayer in any taxable year.
29	29	19 (b) Credits under this Section shall be limited to the
30	30	20 lesser of 2,000 credit awards per year or $8,000,000 in total
31	31	21 credits per year. The Department shall adopt rules for the
32	32	22 processing and awarding of credits under this Section,
33	33	23 including when total filings exceed the total authorized
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2710 Introduced , by Rep. Michael J. Kelly 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 an income tax credit for taxpayers who have an approved NFPA 13D residential fire sprinkler system installed in a new or existing residential dwelling in the State during the taxable year. Provides that the credit shall be in an amount equal to 50% of the total cost of the installation but not to exceed $10,000 per taxpayer in any taxable year. Provides that credit awards under the amendatory Act shall be limited to the lesser of 2,000 credit awards per year or $8,000,000 in total credits per year. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.
41	41	LRB104 08222 HLH 19478 b LRB104 08222 HLH 19478 b
42	42	LRB104 08222 HLH 19478 b
43	43	A BILL FOR
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68	68	1 credits.
69	69	2 (c) To be eligible for a credit under this Section, a
70	70	3 taxpayer shall provide to the Department a copy of the final
71	71	4 invoice showing the total cost of the installation of the fire
72	72	5 sprinkler system. The invoice shall include the following:
73	73	6 (1) the water main tap fee, if required;
74	74	7 (2) fees and costs for combined sprinkler and domestic
75	75	8 water service;
76	76	9 (3) costs associated with installing, modifying, or
77	77	10 upgrading piping and valves; and
78	78	11 (4) all other installation and testing fees.
79	79	12 (d) In no event shall a credit under this Section reduce
80	80	13 the taxpayer's liability to less than zero.
81	81	14 (e) As used in this Section, "approved NFPA 13D
82	82	15 residential fire sprinkler system" means a residential fire
83	83	16 sprinkler system that meets the requirements of NFPA 13D
84	84	17 standards established by the National Fire Protection
85	85	18 Association for one-family and 2-family residential dwellings.
86	86	19 (f) This Section is exempt from the provisions of Section
87	87	20 250.
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93	93	HB2710 - 2 - LRB104 08222 HLH 19478 b