IL SB2218 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Individual Income Tax Bond Act. Authorizes the State to issue, sell, and provide for the retirement of limited obligation bonds in the total principal amount of $6,000,000,000. Provides that the proceeds of those bonds shall be issued for the purposes of providing financial relief to vendors who do business with the State. Amends the State Finance Act to create the Individual Income Tax Bond Proceeds Fund and the Individual Income Tax Bond Retirement and Interest Fund. Amends the Illinois Income Tax Act to provide for the transfer of certain income tax proceeds into the Individual Income Tax Bond Proceeds Fund. Effective immediately.
Title
INC TX-BONDS
Sponsors
Sen. Bill Brady [R] |
History
Date | Chamber | Action |
---|---|---|
2019-01-09 | Senate | Session Sine Die |
2017-06-15 | Senate | Referred to Assignments |
2017-06-15 | Senate | First Reading |
2017-06-15 | Senate | Filed with Secretary by Sen. William E. Brady |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 105 | 5.878 | New Code | See Bill Text |
30 | 105 | 5.879 | New Code | See Bill Text |
30 | 105 | 6z-102 | New Code | See Bill Text |
35 | 5 | 901 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2218&GAID=14&DocTypeID=SB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/SB/10000SB2218.htm |