Bill Title: Amends the Illinois Income Tax Act. Provides that the Department of Revenue shall include on each income tax return, including any amended return and any installment of estimated taxes, a provision allowing the taxpayer to elect to apply all or a portion of the refund due to the taxpayer as a result of an overpayment made in that taxable period to the taxpayer's tax liability in any subsequent taxable period. Provides that the election shall be irrevocable.

Sponsorship: Bipartisan Bill

Status: (Passed) 2014-08-15 - Public Act . . . . . . . . . 98-0925 [HB5564 Detail]

Text: Latest bill text (Chaptered) [HTML]

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