Bill Status of HB5543 94th General Assembly
Short Description: INC TX-ALT VEHICLE CREDIT
Rep. Elizabeth Coulson
| 1/9/2007||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 individual taxpayers in an amount equal to the taxpayer's federal income tax credit for alternative motor vehicles. 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.