Bill Title: Amends the Illinois Income Tax Act. Provides that the following amounts shall be deposited into the Local Government Distributive Fund as the revenue is realized from the specified taxes: (i) 8% of the net revenue realized from the tax imposed under the Act upon individuals, trusts, and estates; (ii) 8% of the net revenue realized from the tax imposed by the Act upon electing pass-through entities; and (iii) 9.11% of the net revenue realized from the tax imposed by the Act upon corporations. Amends the State Revenue Sharing Act to provide that amounts paid into the Local Government Distributive Fund are appropriated on a continuing basis. Effective July 1, 2023.

Spectrum: Bipartisan Bill

Status: (Introduced) 2023-05-24 - Added Co-Sponsor Rep. Jason Bunting [HB2087 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-02	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB2087

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB2087 currently on file.

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