Illinois House Bill 5097 (Prior Session Legislation)

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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]

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.

INC TX-LGDF IF RATE REDUCED

Rep. Sidney Mathias [R]

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

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

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