HB 5583 - NEUTRAL

Short Description:  INC TX-ELECTRIC VEHICLE

House Sponsors
Rep. Mary Edly-Allen and Jonathan "Yoni" Pizer

Synopsis As Introduced
      Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who purchase an electric vehicle during the taxable year. Provides that the amount of the credit is equal to the purchase price of the vehicle. Provides that excess credit amounts may not be carried forward or back and shall not be refunded to the taxpayer. Effective immediately.

Last Action 

Date

Chamber

 Action

  2/18/2020

House

Referred to Rules Committee

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Illinois Fuel & Retail Association

112 W. Cook Street
Springfield, Illinois  62704
Telephone: (217) 544-4609
Fax: (217) 789-0222

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“Neighbors Serving Neighbors.” It’s more than our slogan at IFRA, it’s at the core of every decision we make. IFRA was formed in order to foster a cooperative spirit between petroleum marketers and convenience store operators doing business in Illinois. It’s our guiding principal to eliminate practices and customs that are contrary to a capitalist economy and a competitive business environment in Illinois.

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