92nd General Assembly
Summary of HB0422
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House Sponsors:

Short description: 
INC TAX-NATURAL GAS CREDIT                                                 

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      
   paid in the taxable year by the taxpayer for natural gas  consumed  in      
   Illinois,  including  all  local,  State,  and federal taxes paid with      
   respect to that natural gas.  Allows the credit to be carried  forward      
   for 2 years.  Effective immediately.                                        
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


 Full Text  Bill Status