Illinois General Assembly - Bill Status for HB5362
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 Bill Status of HB5362  94th General Assembly


House Sponsors
Rep. Jim Sacia - Thomas Holbrook - Michael K. Smith - Donald L. Moffitt

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/217 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a $20,000 tax credit for each motor fuel retailer who installs one or more new fuel tanks and dispensing pumps that are used solely to dispense biodiesel blend that contains more than 5% biodiesel at his or her motor fuel retail store in Illinois during the taxable year. Provides that the credit applies to taxable years ending on or after December 31, 2006 and on or before December 30, 2011. Limits the credit to one year. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.

DateChamber Action
  1/26/2006HouseFiled with the Clerk by Rep. Jim Sacia
  1/26/2006HouseFirst Reading
  1/26/2006HouseReferred to Rules Committee
  2/9/2006HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook
  2/9/2006HouseAdded Chief Co-Sponsor Rep. Michael K. Smith
  2/9/2006HouseAdded Chief Co-Sponsor Rep. Donald L. Moffitt
  1/9/2007HouseSession Sine Die

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