INC TX-ALTERNATIVE FUEL CREDIT House SponsorsRep. Jim Sacia 1/9/2007HouseSession Sine Die 35 ILCS 5/216 new35 ILCS 5/217 new Amends the Illinois Income Tax Act. Creates a $500 tax credit for each taxpayer who purchases 1,000 gallons or more of motor fuel that contains more than 10% but not more than 30% ethanol and creates a $500 tax credit for each taxpayer who purchases 1,000 gallons or more of biodiesel blend that contains more than 5% biodiesel. 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 motor fuel that contains more than 10% but not more than 30% ethanol at his or her motor fuel retail store in Illinois during the taxable year. 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 each of the credits applies to taxable years ending on or after December 31, 2005 and on or before December 30, 2010. Limits each of the credits to one year. Provides that the credits may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective January 1, 2006. 2/18/2005HouseFiled with the Clerk by Rep. Jim Sacia 2/18/2005HouseFirst Reading 2/18/2005HouseReferred to Rules Committee 2/23/2005HouseAssigned to Revenue Committee 3/10/2005HouseRecommends Be Adopted Sub-committee/ Revenue Committee; 001-000-002; Lost 3/10/2005HouseRemains in Revenue Committee 3/10/2005HouseRule 19(a) / Re-referred to Rules Committee 1/9/2007HouseSession Sine Die