Bill Status of SB2153 95th General Assembly
Short Description: INC TX-FUEL EFFICIENT CARS
Sen. Randall M. Hultgren - Gary G. Dahl
| 1/13/2009||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. For tax years ending on or after December 31, 2008 through tax years ending on or before December 30, 2012, creates a $1000 income tax credit for each taxpayer who purchases, at retail during the tax year, a hybrid vehicle or a flexible fuel vehicle. Provides that the credit does not apply to any motor vehicle that was modified to be a hybrid vehicle or alternate fuel vehicle at any time after the vehicle was originally manufactured. Provides that the credit may not be carried forward or back, and may not reduce the taxpayer's liability to less than zero.