IL SB1550 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that an amount equal to 10% of the net revenue realized from the State income tax during the preceding month shall be transferred from the General Revenue Fund to the Local Government Distributive Fund (currently, the amount transferred is equal to the sum of (i) 6.06% of the net revenue realized from the tax imposed upon individuals, trusts, and estates and (ii) 6.85% of the net revenue realized from the tax imposed upon corporations).
Title
INC TX-LGDF
Sponsors
History
Date | Chamber | Action |
---|---|---|
2021-01-13 | Senate | Session Sine Die |
2020-02-27 | Senate | Added as Co-Sponsor Sen. John F. Curran |
2020-02-25 | Senate | Added as Co-Sponsor Sen. Jil Tracy |
2019-03-22 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2019-03-06 | Senate | Postponed - Revenue |
2019-02-27 | Senate | Assigned to Revenue |
2019-02-15 | Senate | Referred to Assignments |
2019-02-15 | Senate | First Reading |
2019-02-15 | Senate | Filed with Secretary by Sen. Donald P. DeWitte |
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=1550&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/SB/10100SB1550.htm |