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<xml>
<title>Illinois General Assembly - Bill Status for HB 5424         </title>
<shortdesc>INC TX-PFAS-FREE FIRE EQUIP</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Michael J. Coffey, Jr.</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/241 new</reference><aliasreference></aliasreference><SynopsisText>     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.</SynopsisText></synopsis>
<actions>
<statusdate>2/9/2024</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Michael J. Coffey, Jr.</action>
<statusdate>2/9/2024</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/9/2024</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/28/2024</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>3/8/2024</statusdate><chamber>House</chamber><action>To Revenue-Income Tax Subcommittee</action>
<statusdate>4/5/2024</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

