MORROW. 35 ILCS 5/203 from Ch. 120, par. 2-203 35 ILCS 5/211 new Amends the Illinois Income Tax Act. Creates a tax credit for taxpayers in an amount equal to 100% of amounts paid to employees of the taxpayer as qualified transportation fringes. Defines "qualified transportation fringe" as the stipend an employer pays an employee for the purchase of any pass, token, voucher, facecard, or similar item entitling the employee to transportation between the employee's residence and place of employment. Provides that any credit in excess of the taxpayer's liability for the tax year may be carried forward for 5 years. Provides that the Department may prescribe any rules necessary to implement and enforce the credit. Creates a deduction for amounts received by the employee as qualified transportation fringes. Provides that the credit and deduction shall apply to tax years beginning on or after January 1, 1997. Sunsets the credit and deduction after 10 years. Effective July 1, 1997. 97-03-10 H FIRST READING 97-03-10 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-03-11 H ASSIGNED TO COMMITTEE REVENUE 97-03-13 H PRIMARY SPONSOR CHANGED TO MORROW 97-03-21 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary