Bill Text: IL HB1355 | 2011-2012 | 97th General Assembly | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Income Tax Act and the Unemployment Insurance Act. Provides that employers with fewer than 25 employees are exempt from paying estimated taxes and may pay their unemployment insurance contributions and submit their wage and contribution reports on an annual basis (instead of quarterly). Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Failed) 2013-01-08 - Session Sine Die [HB1355 Detail]
Download: Illinois-2011-HB1355-Engrossed.html
Bill Title: Amends the Illinois Income Tax Act and the Unemployment Insurance Act. Provides that employers with fewer than 25 employees are exempt from paying estimated taxes and may pay their unemployment insurance contributions and submit their wage and contribution reports on an annual basis (instead of quarterly). Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Failed) 2013-01-08 - Session Sine Die [HB1355 Detail]
Download: Illinois-2011-HB1355-Engrossed.html
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| 1 | AN ACT concerning revenue.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The Department of Revenue Law of the
Civil | ||||||
| 5 | Administrative Code of Illinois is amended by adding Section | ||||||
| 6 | 2505-755 as follows:
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| 7 | (20 ILCS 2505/2505-755 new) | ||||||
| 8 | Sec. 2505-755. Deposit of State funds. Notwithstanding any | ||||||
| 9 | other provision of law, the proceeds from any tax imposed by | ||||||
| 10 | the State and collected and administered by the Department | ||||||
| 11 | shall be deposited into the appropriate fund in the State | ||||||
| 12 | treasury within 3 business days after the proceeds are received | ||||||
| 13 | by the Department. If the funds are required by law to be | ||||||
| 14 | deposited into a specific fund in the State treasury for | ||||||
| 15 | subsequent transfer by law into another fund in the State | ||||||
| 16 | treasury, then the 3-business day requirement under this | ||||||
| 17 | Section applies only to deposits into the first fund. The | ||||||
| 18 | subsequent transfer shall be made in accordance with the | ||||||
| 19 | applicable statute.
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| 20 | Section 10. The State Finance Act is amended by adding | ||||||
| 21 | Section 4.2 as follows:
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| 1 | (30 ILCS 105/4.2 new) | ||||||
| 2 | Sec. 4.2. Deposit of State funds. Notwithstanding any other | ||||||
| 3 | provision of law, moneys received by any State agency that are | ||||||
| 4 | required to be deposited into a fund in the State treasury | ||||||
| 5 | shall be deposited into the appropriate fund in the State | ||||||
| 6 | treasury within 3 business days after the moneys are received | ||||||
| 7 | by the agency. If the funds are required by law to be deposited | ||||||
| 8 | into a specific fund in the State treasury for subsequent | ||||||
| 9 | transfer by law into another fund in the State treasury, then | ||||||
| 10 | the 3-business day requirement under this Section applies only | ||||||
| 11 | to deposits into the first fund. The subsequent transfer shall | ||||||
| 12 | be made in accordance with the applicable statute.
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