Bill Status of HB5285 94th General Assembly
Short Description: INC TX-MOTOR FUEL CREDIT
Rep. Rosemary Mulligan
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit equal to 5% of the cost of motor fuel purchased in the State by the taxpayer during the taxable year for the operation of a commercial vehicle that has 2 or more axles. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.