Illinois HB1202 introduces a tax credit for individual taxpayers for recycling costs.
Illinois HB1202 amends the Illinois Income Tax Act to create a tax credit for individual taxpayers. The credit equals 100% of eligible recycling costs incurred during the taxable year, up to a maximum of $1,000 per taxpayer. Eligible recycling costs include those associated with the collection, separation, conversion, or treatment of recyclable solid waste materials such as paper, glass, and plastic. The credit can be applied to the earliest year with a tax liability and may be carried forward for up to 18 years if unused.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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