IL HB0421

Creates an income tax credit for taxpayers that own and operate sanitary landfills in Illinois and incur noise mitigation costs during the taxable year.

Credit amount may not exceed 5% of costs incurred for labor and materials related to noise mitigation measures.

Applies to taxable years beginning on or after January 1, 2022, and requires application to the Illinois Environmental Protection Agency.

Landfills must meet noise compliance requirements established by the Illinois Environmental Protection Agency to be eligible for the credit.

Excess credits that exceed tax liability can be carried forward and applied to the tax liability for up to 5 following taxable years.