Bill Status of HB5583 101st General Assembly
Short Description: INC TX-ELECTRIC VEHICLE
Rep. Mary Edly-Allen and Jonathan "Yoni" Pizer
| 1/13/2021||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who purchase an electric vehicle during the taxable year. Provides that the amount of the credit is equal to the purchase price of the vehicle. Provides that excess credit amounts may not be carried forward or back and shall not be refunded to the taxpayer. Effective immediately.