Want $1,000? Then buy a hybrid car in Illinois

[NNN0LHI]

http://www.suntimes.com/news/metro/468709,CST-NWS-hybrid15.article

Highway to hybrids

$1,000 INCENTIVES | State treasurer to reward drivers who buy 'green' cars

July 15, 2007
BY WHITNEY WOODWARD Staff Reporter/[e-mail]

SPRINGFIELD -- As gas prices continue to climb, state Treasurer Alexi Giannoulias is hoping a $1,000 check will sway car shoppers to the hybrid section of auto showrooms.

Giannoulias' rebate program for Illinois residents who buy new hybrids or energy-efficient vehicles with loans from in-state banks begins Monday.

Consumers will save money through the program, which also benefits the environment, said Giannoulias, who says his "Green Rewards" program will be the largest hybrid rebate program in the nation.

Giannoulias has pledged $2 million in incentives for car buyers --enough money for 2,000 vehicles --but said he would consider increasing it if there's more demand.

[LiberalFighter]

1. How does a State Treasurer able to divert funds for this purpose?

[orleans]

2. i don't know...but i was thinking of getting one--and now i'm REALLY

thinking about it!

[frazzled]

3. Check this year's federal hybrid credits as well

For the 2006 tax year, we received a $3,000 credit on our taxes. Not a deduction, but flat out credit. That means whatever your final tax owed, subtract $3,000 from the bottom line. Or if you are due a refund, add $3,000 to that figure.

If they do that again this year, you could end up with as much as $4,000 real dollars, with the new Illinois credit.

Now, Illinois should give free parking (on meters) to hybrids, as they do in L.A.

[orleans]

4. are you sure they add that amount to the refund? n/t

[Ms. Toad]

5. Nope, not refundable.,..

And if you are lucky enough to find a used Insight - since they stopped making them anymore - you don't get the credit.

's ok. Mine is getting 60+ mpg. The tax credit would have been nice, but since I have a long daily commute I'm happier with the Insight than I would have been with any of the (relatively) low mileage other hybrids.

[orleans]

6. i didn't think so. n/t