Illinois House Bill 4062

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Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: Introduced on May 2 2023 - 25% progression
Action: 2023-05-10 - Added Co-Sponsor Rep. Jennifer Sanalitro
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that the following amounts shall be deposited into the Local Government Distributive Fund as the revenue is realized from the specified taxes: (i) 10% of the net revenue realized from the tax imposed under the Act upon individuals, trusts, and estates; (ii) 10% of the net revenue realized from the tax imposed by the Act upon electing pass-through entities; and (iii) 10% of the net revenue realized from the tax imposed by the Act upon corporations. Amends the State Revenue Sharing Act to provide that amounts paid into the Local Government Distributive Fund are appropriated on a continuing basis. Effective immediately.

INC TX-LGDF

Rep. Ryan Spain [R]	Rep. Tony McCombie [R]	Rep. Bradley Stephens [R]	Rep. Anthony DeLuca [D]
Rep. John Egofske [R]	Rep. Jennifer Sanalitro [R]

Date	Chamber	Action
2023-05-10	House	Added Co-Sponsor Rep. Jennifer Sanalitro
2023-05-02	House	Referred to Rules Committee
2023-05-02	House	First Reading
2023-05-02	House	Added Chief Co-Sponsor Rep. John Egofske
2023-05-02	House	Added Chief Co-Sponsor Rep. Anthony DeLuca
2023-05-02	House	Added Chief Co-Sponsor Rep. Brad Stephens
2023-05-02	House	Added Chief Co-Sponsor Rep. Tony M. McCombie
2023-05-02	House	Filed with the Clerk by Rep. Ryan Spain

Chapter	Article	Section	Citation Type	Statute Text
30	115	2	Amended Code	Citation Text
35	5	901	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4062&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4062.htm