90th General Assembly
Summary of HB2222
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House Sponsors:

Short description: 
INC TX-EMPLYR COMMUTER CR                                                  

Synopsis of Bill as introduced:
        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.                          
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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