IL SB0170 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 30 2019 - 25% progression
Action: 2019-03-19 - Senate Committee Amendment No. 1 Assignments Refers to Revenue
Pending: Senate Revenue Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the State Finance Act. Creates the Financially Distressed Cities Fund. Amends the State Revenue Sharing Act and the Illinois Income Tax Act. Provides that the Treasurer shall monthly transfer to the Financially Distressed Cities Fund an amount certified by the Department of Revenue equal to: (1) the amount that would have been distributed under the State Revenue Sharing Act to all financially distressed cities if the Treasurer had transferred to the Local Government Distributive Fund a sum calculated using 0.10% of the net revenue realized from the tax imposed by the Illinois Income Tax Act upon individuals, trusts, estates, and corporations during the preceding month; and (2) subtracting the amount distributed to all financially distressed cities from the Local Government Distributive Fund. Provides that the Department of Revenue shall monthly allocate an amount from the Financially Distressed Cities Fund that shall be paid to each financially distressed city. Amends the Financially Distressed City Law of the Illinois Municipal Code. Makes the law applicable to both home rule and non-home rule municipalities. Provides that a State agency or unit of local government may also render technical assistance to a municipality's Financial Advisory Authority as the Authority may request. Provides that the State shall not reduce revenues or impose additional costs affecting a financially distressed city affecting the municipality unless it is consistent with the Financial Plan and Budget in effect. Provides that State mandates enacted while a municipality is designated as a financially distressed city that would cause the municipality to incur costs are not valid or enforceable during the period when the municipality is under the financially distressed city designation. Effective January 1, 2020.

Tracking Information

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Title

FINANCIALLY DISTRESSED CITIES

Sponsors


History

DateChamberAction
2019-03-19SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
2019-03-15SenateSenate Committee Amendment No. 1 Referred to Assignments
2019-03-15SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
2019-03-06SenatePostponed - Revenue
2019-02-21SenatePostponed - Revenue
2019-02-13SenateAssigned to Revenue
2019-01-30SenateReferred to Assignments
2019-01-30SenateFirst Reading
2019-01-30SenateFiled with Secretary by Sen. Napoleon Harris, III

Code Citations

ChapterArticleSectionCitation TypeStatute Text
301055.891New CodeSee Bill Text
301152Amended CodeCitation Text
355901Amended CodeCitation Text
6558-12-10Amended CodeCitation Text
6558-12-18Amended CodeCitation Text
6558-12-24Amended CodeCitation Text
6558-12-3Amended CodeCitation Text
6558-12-4Amended CodeCitation Text

Illinois State Sources


Bill Comments

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