Senate Sponsors: RAUSCHENBERGER. Short description: USE-OCC TAXES-ETHANOL CREDITS Synopsis of Bill as introduced: Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Defines "biomass material" as including, but not being limited to, soybean oil, other vegetable oils, and denatured ethanol. Provides that for gasoline containing 10% ethanol and for diesel fuel containing at least 0.5% and no more than 10% biomass materials, Illinois retailers of these products sold in Illinois are entitled to a credit, beginning on January 1, 2002 and through December 31, 2005, of 2 cents per gallon sold, and beginning on January 1, 2006 and through December 31, 2010, of 1.5 cents per gallon sold. Provides that for gasoline and ethanol fuel blends containing at least 70% ethanol and no more than 30% gasoline and for diesel and biomass fuel blends containing diesel fuel and more than 10% fuel made from biomass material, Illinois retailers of these products sold in Illinois are entitled to a credit, beginning on January 1, 2002 and through December 31, 2005, for each gallon sold, of (i) the percentage of ethanol or biomass material in the blend fuel multiplied by 10, then multiplied by (ii) 2 cents, and beginning on January 1, 2006 and through December 31, 2010, for each gallon sold, of (i) the percentage of ethanol or biomass material in the blend fuel multiplied by 10, then multiplied by (ii) 1.5 cents. Ends the 30% tax reduction on sales of gasohol beginning on January 1, 2002. Effective January 1, 2002. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status