92nd General Assembly
Summary of HB1686
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House Sponsors:
FOWLER-FORBY, FRANKS AND SCOTT.

Short description: 
INC TAX-CREDIT-GAS-PROPANE-OIL                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax  Act.   Provides  that,  beginning      
   with  taxable  years  ending  on or after December 31, 2001 and ending      
   with taxable years ending on or before December 30, 2006,  a  taxpayer      
   is  entitled  to an income tax credit in an amount equal to the amount      
   expended in the taxable year by the taxpayer  for  local,  State,  and      
   federal  taxes  paid  with  respect  to natural gas, propane, and home      
   heating oil consumed in Illinois.  Allows the  credit  to  be  carried      
   forward for 2 years.                                                        
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


   END OF INQUIRY 



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