Illinois House Bill 3522 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 10 2017 - 25% progression, died in chamber
Action: 2018-04-26 - Tabled
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2018, the rate of tax for individuals, trusts, and estates shall be: (1) 4% of the portion of the taxpayer's net income from $0 to $7,500; (2) 5.84% of the portion of the taxpayer's net income exceeding $7,500 but not exceeding $15,000; (3) 6.27% of the portion of the taxpayer's net income exceeding $15,000 but not exceeding $225,000; and (4) 7.65% of the portion of the taxpayer's net income exceeding $225,000. Amends the State Finance Act. Creates the Education Property Tax Relief Fund. Provides that moneys in the Fund shall be distributed to school districts, and sets forth the distribution formula. Provides that transfers from the Tobacco Settlement Recovery Fund to the Budget Stabilization Fund shall cease upon the first transfer of moneys into the Budget Stabilization Fund under the provisions of the amendatory Act. Amends the Budget Stabilization Act. Provides for minimum funding levels to be maintained in the Budget Stabilization Fund and for the transfer of specified amounts to the Budget Stabilization Fund if minimum funding levels are not maintained. Makes other changes. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on January 1, 2018, the rate of tax shall be 5.75% (currently, 6.25%). Amends various Acts to make conforming changes. Amends the Aircraft Use Tax Law and the Watercraft Use Tax Law. Provides that the rate of tax under those Act shall be 5.75% (currently, 6.25%). Effective immediately.

REVENUE-VARIOUS

Sen. Robert Martwick [D]

Date	Chamber	Action
2018-04-26	House	Tabled
2018-04-26	House	Motion Prevailed
2018-04-23	House	Motion Filed - Table Bill/Resolution Pursuant to Rule 60(b), Rep. Robert Martwick
2018-04-13	House	Rule 19(a) / Re-referred to Rules Committee
2018-02-14	House	To Growth, Reform & Fairness Subcommittee
2018-02-14	House	Assigned to Revenue & Finance Committee
2017-03-31	House	Rule 19(a) / Re-referred to Rules Committee
2017-03-09	House	To Growth, Reform & Fairness Subcommittee
2017-02-22	House	Assigned to Revenue & Finance Committee
2017-02-10	House	Referred to Rules Committee
2017-02-10	House	First Reading
2017-02-10	House	Filed with the Clerk by Rep. Robert Martwick

Chapter	Article	Section	Citation Type	Statute Text
20	605	605-332	Amended Code	Citation Text
30	105	5.878	New Code	See Bill Text
30	105	6z-102	New Code	See Bill Text
30	105	6z-18	Amended Code	Citation Text
30	105	6z-20	Amended Code	Citation Text
30	105	6z-43	Amended Code	Citation Text
30	105	6z-51	Amended Code	Citation Text
30	122	15	Amended Code	Citation Text
35	105	3-10	Amended Code	Citation Text
35	105	3-55	Amended Code	Citation Text
35	105	3-6	Amended Code	Citation Text
35	105	3-85	Amended Code	Citation Text
35	105	9	Amended Code	Citation Text
35	110	3-10	Amended Code	Citation Text
35	110	3-70	Amended Code	Citation Text
35	110	9	Amended Code	Citation Text
35	115	3-10	Amended Code	Citation Text
35	115	9	Amended Code	Citation Text
35	120	2-10	Amended Code	Citation Text
35	120	2-5	Amended Code	Citation Text
35	120	2-8	Amended Code	Citation Text
35	120	2d	Amended Code	Citation Text
35	120	3	Amended Code	Citation Text
35	157	10-15	Amended Code	Citation Text
35	157	10-40	Amended Code	Citation Text
35	158	15-15	Amended Code	Citation Text
35	5	201	Amended Code	Citation Text
35	5	901	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3522&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB3522.htm