Bill Title: Amends the Illinois Income Tax Act. Provides that, beginning on February 1, 2015, 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 tax imposed under the Act during the preceding month (instead of: (i) beginning on February 1, 2015 and through January 31, 2025, an amount equal to the sum of 8% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 9.14% of the net revenue realized from the tax imposed on corporations; and (ii) beginning on February 1, 2025, an amount equal to the sum of 9.23% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 10% of the net revenue realized from the tax imposed on corporations).

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB3750 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2013-11-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB3750

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB3750 currently on file.

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