MITCHELL,BILL-MATHIAS, O'BRIEN, REITZ, BEAUBIEN, OSMOND, MITCHELL,JERRY, WINKEL, SAVIANO, STEPHENS, POE, BERNS, DURKIN, BOLAND AND O'CONNOR. 35 ILCS 5/214 new 35 ILCS 5/215 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 during taxable years 2002 through 2006. Provides that the credits may not reduce the taxpayer's liability to less than zero. Effective January 1, 2002. HOUSE AMENDMENT NO. 1. Replaces the $2,000 income tax credit for the purchase of an E85 ethanol-powered motor vehicle with a credit of (i) $500 for each E85 ethanol-powered motor vehicle purchased during the taxable year and (ii) for each of the 3 taxable years following the taxable year of purchase, $500 for each vehicle for which a purchase credit was allowed, if the taxpayer verifies that the taxpayer purchased at least 1,000 gallons of E85 blend fuel during the taxable year for each E85 ethanol-powered motor vehicle for which a purchase credit was allowed. DEC-08-2000 H PREFILED WITH CLERK JAN-10-2001 H FIRST READING JAN-10-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES JAN-30-2001 H ADDED AS A JOINT SPONSOR MATHIAS JAN-31-2001 H ASSIGNED TO COMMITTEE REVENUE FEB-07-2001 H ADDED AS A CO-SPONSOR O'BRIEN FEB-08-2001 H ADDED AS A CO-SPONSOR REITZ FEB-22-2001 H ADDED AS A CO-SPONSOR BEAUBIEN FEB-22-2001 H ADDED AS A CO-SPONSOR JONES,JOHN FEB-22-2001 H ADDED AS A CO-SPONSOR OSMOND FEB-22-2001 H ADDED AS A CO-SPONSOR MITCHELL,JERRY FEB-22-2001 H ADDED AS A CO-SPONSOR WINKEL FEB-22-2001 H ADDED AS A CO-SPONSOR SAVIANO FEB-22-2001 H ADDED AS A CO-SPONSOR STEPHENS FEB-22-2001 H ADDED AS A CO-SPONSOR MOFFITT FEB-22-2001 H ADDED AS A CO-SPONSOR POE FEB-22-2001 H ADDED AS A CO-SPONSOR BERNS FEB-22-2001 H ADDED AS A CO-SPONSOR DURKIN MAR-01-2001 H ADDED AS A CO-SPONSOR BOLAND MAR-16-2001 H AMENDMENT NO. 01-REVENUE H MAR-16-2001 H ADOPTED SUB MAR-16-2001 H REMAINS IN COMMITTEE REVENUE MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL MAR-21-2001 H ADDED AS A CO-SPONSOR O'CONNOR JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary