INC TX-ELECTRIC BICYCLE CREDIT House SponsorsRep. Abdelnasser Rashid 1/7/2025HouseSession Sine Die 35 ILCS 5/240 new Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2023, a taxpayer shall be allowed a credit in an amount equal to 50% of the cost of any qualified electric bicycle placed in service by the taxpayer during the taxable year. Provides that the total credit allowed to a taxpayer may not exceed $1,000 for all taxable years. Provides that, to claim the credit, the taxpayer must apply to the Department of Revenue for a certificate of credit in the form and manner required by the Department by rule. Provides that no later than 3 years after the effective date of the amendatory Act, the Department shall report to the Governor and to the General Assembly the number of tax credit certificates awarded and the aggregate dollar amount of the tax credit certificates allowed. Effective immediately. 2/16/2023HouseFiled with the Clerk by Rep. Abdelnasser Rashid 2/17/2023HouseFirst Reading 2/17/2023HouseReferred to Rules Committee 2/28/2023HouseAssigned to Revenue & Finance Committee 3/9/2023HouseTo Revenue-Income Tax Subcommittee 3/10/2023HouseRule 19(a) / Re-referred to Rules Committee 1/7/2025HouseSession Sine Die