Bill Title: Amends the Illinois Income Tax Act. Provides that, if the rate of tax is reduced because the State has exceeded the State spending limit, then, beginning with the first distribution to occur after the effective date of the reduction, the State Comptroller shall order transferred and the State Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 1/10 of the net revenue realized under Act during the preceding month. Effective immediately.

Sponsorship: Partisan Bill (Republican 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5097 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2012-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5097

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5097 currently on file.