IL HB2128

Creates an income tax credit for replacing lead water service pipes with copper pipes at qualified residences, effective for taxable years beginning January 1, 2019 or later.

Credit amount equals the lesser of 25% of replacement costs or $2,500 per taxable year.

Credit may be claimed in the year pipes are replaced and in each of the 3 following consecutive years (4 years total).

Excess credits that exceed annual tax liability may be carried forward for up to 5 subsequent years.

Applies only to single-family residences owned and occupied by the taxpayer as their primary residence.