HB 2946

  • Illinois House Bill
  • 93rd Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Income Tax-Ethanol Credits

Abstract

Amends the Illinois Income Tax Act. Creates a $2,000 tax credit for each taxpayer who purchases a new E85 ethanol powered motor vehicle for each vehicle purchased during the taxable year. Creates a $10,000 tax credit for each motor fuel retailer who installs one or more new E85 ethanol fuel dispensing pumps at his or her motor fuel retail store in Illinois during the taxable year. Provides that each of the credits applies to taxable years ending on or after December 31, 2003 and on or before December 30, 2008. Provides that the credits may not reduce the taxpayer's liability to less than zero. Effective January 1, 2004.

Bill Sponsors (1)

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Jan 11, 2005

House

Session Sine Die

Mar 13, 2003

House

Rule 19(a) / Re-referred to Rules Committee

Feb 26, 2003

House

Assigned to Revenue Committee

Feb 21, 2003

House

Chief Co-Sponsor Rep. Ronald A. Wait

House

Chief Co-Sponsor Rep. Sidney H. Mathias

House

Co-Sponsor Rep. Elizabeth Coulson

House

Filed with the Clerk by Rep. Rich Brauer

House

Co-Sponsor Rep. Sandra M. Pihos

House

First Reading

House

Referred to Rules Committee

House

Co-Sponsor Rep. Randall M. Hultgren

House

Chief Co-Sponsor Rep. Bill Mitchell

House

Chief Co-Sponsor Rep. Dave Winters

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