Illinois SB1709 offers a tax credit for installing NFPA 13D residential fire sprinkler systems in homes.
Illinois SB1709 amends the Illinois Income Tax Act to provide a tax credit for taxpayers who install an approved NFPA 13D residential fire sprinkler system in a new or existing residential dwelling. The credit is equal to 50% of the installation cost, up to $10,000 per taxpayer per year. The bill limits the total number of credits to 2,000 per year or $8,000,000 in total credits per year. The credit is exempt from the Act's automatic sunset provisions and takes effect immediately upon becoming law.
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