100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB5818
 
Introduced , by Rep. Marcus C. Evans, Jr.
 
SYNOPSIS AS INTRODUCED:
 

 
25 ILCS 155/3.1 new

     Amends the Commission on Government Forecasting and Accountability Act. Requires the Commission on Government Forecasting and Accountability to prepare a report analyzing the effect of different income tax rates on the State's fiscal condition, as well as alternative revenue sources and spending cuts that could benefit the State's fiscal condition. Provides that the report shall be submitted to the Governor and the General Assembly no later than December 31, 2018. Provides that the Section is repealed on January 1, 2020. Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
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1    AN ACT concerning State government.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Commission on Government Forecasting and 
5Accountability Act is amended  by adding Section 3.1 as follows:
 
6    (25 ILCS 155/3.1 new)
7    Sec. 3.1. Income tax study.  The Commission shall prepare a 
8report as provided in this Section. The report shall be 
9completed with input from the Department of Revenue, non-profit 
10research groups, nonpartisan State and local tax and fiscal 
11policy advocacy organizations, business advocacy groups, and 
12labor advocacy groups. The report shall consider:
13        (1) the effects of 3 different flat income tax rates 
14    and 3 different graduated income tax rates, all to be 
15    selected by the Commission, on individuals within the 
16    following federal adjusted gross income levels: 
17            (A) less than $25,000; 
18            (B) at least $25,000 but less than $50,000; 
19            (C) at least $50,000 but less than $100,000; 
20            (D) at least $100,000 but less than $500,000; and 
21            (E) $500,000 or more; 
22        (2) alternative revenue sources in addition to or in 
23    lieu of income taxes that could benefit the State's fiscal 
 
 
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1    condition; 
2        (3) spending cuts that could benefit the State's fiscal 
3    condition; and 
4        (4) any effects of the federal Tax Cuts and Jobs Act on 
5    the fiscal condition of the State. 
6    The report shall be submitted to the Governor and the 
7General Assembly no later than December 31, 2018. This Section 
8is repealed on January 1, 2020. 
 
 
9    Section 99. Effective date. This Act takes effect upon 
10becoming law.