Bill Title: Amends the Illinois Income Tax Act. Provides that, beginning on July 1, 2020, the Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 10% of the net revenue realized from the income tax imposed upon individuals, trusts, estates, and corporations during the preceding month. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-02-05 - Referred to Rules Committee [HB4542 Detail]

Text: Latest bill text (Introduced) [HTML]

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