INCOME TAX-ETHANOL CREDITS House SponsorsRep. William B. Black-Patricia Reid Lindner-Sidney H. Mathias-Ronald A. Wait-Raymond Poe, Rich Brauer, Richard P. Myers and Chapin Rose 1/11/2005HouseSession Sine Die 35 ILCS 5/216 new35 ILCS 5/217 new 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, 2004 and on or before December 30, 2009. Provides that the credits may not reduce the taxpayer's liability to less than zero. Effective January 1, 2005. 2/9/2004HouseFiled with the Clerk by Rep. William B. Black 2/9/2004HouseChief Co-Sponsor Rep. Patricia Reid Lindner 2/9/2004HouseChief Co-Sponsor Rep. Sidney H. Mathias 2/9/2004HouseChief Co-Sponsor Rep. Ronald A. Wait 2/9/2004HouseChief Co-Sponsor Rep. Raymond Poe 2/9/2004HouseCo-Sponsor Rep. Rich Brauer 2/9/2004HouseCo-Sponsor Rep. Richard P. Myers 2/9/2004HouseCo-Sponsor Rep. Chapin Rose 2/9/2004HouseFirst Reading 2/9/2004HouseReferred to Rules Committee 4/29/2004HouseMotion Filed to Discharge Committee Rep. William B. Black 1/11/2005HouseSession Sine Die