IL HB5097 | 2011-2012 | 97th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that, if the rate of tax is reduced because the State has exceeded the State spending limit, then, beginning with the first distribution to occur after the effective date of the reduction, the State Comptroller shall order transferred and the State Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 1/10 of the net revenue realized under Act during the preceding month. Effective immediately.
Title
INC TX-LGDF IF RATE REDUCED
Sponsors
History
Date | Chamber | Action |
---|---|---|
2013-01-08 | House | Session Sine Die |
2012-02-07 | House | Referred to Rules Committee |
2012-02-07 | House | First Reading |
2012-02-07 | House | Filed with the Clerk by Rep. Sidney H. Mathias |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 5 | 901 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5097&GAID=11&DocTypeID=HB&SessionID=84&GA=97 |
Text | https://www.ilga.gov/legislation/97/HB/09700HB5097.htm |