Bill Status of HB0652 94th General Assembly
Short Description: INC TX-ALT FUEL VEHICLE CREDIT
Rep. Jack D. Franks - Michael Tryon - Sidney H. Mathias - Linda Chapa LaVia, Mike Boland, Daniel V. Beiser, Kathleen A. Ryg, Karen A. Yarbrough, Lisa M. Dugan, Careen M Gordon and Naomi D. Jakobsson
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides, for 5 taxable years, for an income tax credit for the purchase of an alternative fueled vehicle during the taxable year in the amount of $1,000 per vehicle purchased. Provides that the credit may not reduce the taxpayer's liability to less than zero but may be carried forward for 5 years. Effective immediately.