93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB7031

 

Introduced 02/09/04, by George Scully Jr.

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 105/5.625 new
30 ILCS 105/6z-61 new
35 ILCS 5/201   from Ch. 120, par. 2-201
35 ILCS 5/202.5 new
35 ILCS 5/804   from Ch. 120, par. 8-804
35 ILCS 5/901   from Ch. 120, par. 9-901
35 ILCS 200/18-178 new
35 ILCS 200/18-255
35 ILCS 200/20-15
35 ILCS 200/21-30

    Amends the State Finance Act, the Illinois Income Tax Act, and the Property Tax Code. Beginning on July 1, 2004, increases income taxes and provides that two-thirds of the increased revenue shall be deposited into the School District Property Tax Relief Fund to fund property tax abatements and that one-third of the increased revenue shall be deposited into the Common School Fund. Provides a mechanism for property tax abatements. Effective July 1, 2004.


LRB093 16600 SJM 42249 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB7031 LRB093 16600 SJM 42249 b

1     AN ACT concerning schools.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4
ARTICLE 15

 
5
6     Section 15-5. The Property Tax Code is amended by changing
7 The State Finance Act is amended by adding Sections 5.625 and
8 6z-61 as follows:
 
9     (30 ILCS 105/5.625 new)
10     Sec. 5.625. The School District Property Tax Relief Fund.
 
11     (30 ILCS 105/6z-61 new)
12     Sec. 6z-61. School District Property Tax Relief Fund. The
13 School District Property Tax Relief Fund is created as a
14 special fund in the State treasury. All interest earned on
15 moneys in the Fund shall be deposited into the Fund.
16     (a) As used in this Section:
17     "Department" means the Illinois Department of Revenue.
18     "School district property tax relief grant" means the money
19 designated to be distributed to a school district from the
20 moneys appropriated by the General Assembly from the School
21 District Property Tax Relief Fund.
22     (b) On November 15, 16, or 17 of each year beginning in
23 2004, the Department must certify the amount of money available
24 for school district property tax relief grants. The amount
25 available is equal to the amount appropriated by the General
26 Assembly or the unencumbered amount in the Fund at the time of
27 certification, whichever is less.
28     (c) On November 15, 16, or 17 of each year beginning in
29 2004, the Department must calculate each school district's
30 grant amount.

 

 

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1     The amount of the grant for each school district for a tax
2 year is calculated as follows: (i) each school district must
3 certify to the Department the rate of the tax extended for
4 educational purposes for the 2001 tax year (payable in 2002)
5 for the school district; (ii) the Department must determine the
6 equalized assessed value (EAV) of all taxable property in the
7 school district for the tax year preceding the then current tax
8 year; (iii) the rate determined in item (i) is multiplied by
9 the EAV determined in item (ii); (iv) the amounts determined in
10 item (iii) for all school districts are added together to reach
11 an aggregate total for all school districts; and (v) the amount
12 certified by the Department as available for distribution for
13 that tax year is multiplied by the amount determined in item
14 (iii) and then the product is divided by the amount determined
15 in item (iv). The result determined in item (v) is the grant
16 amount for the tax year. For example:
17         (1) Total grant amount certified by the Department for
18     the tax year is $5,000,000 to be distributed to school
19     districts A and B.
20         (2) School district A:
21             (A) Tax rate for educational purposes for the 2001
22         tax year was 1.50%.
23             (B) Equalized assessed value of all taxable
24         property in school district A for the preceding tax
25         year was $50,000,000.
26         (3) School district B:
27             (A) Tax rate for educational purposes for the 2001
28         tax year was 1.35%.
29             (B) Equalized assessed value of all taxable
30         property in school district B for the preceding tax
31         year was $75,000,000.
32 For school district A, the tax rate multiplied by the preceding
33 tax year's equalized assessed value of all taxable property is
34 $750,000 (1.50% multiplied by $50,000,000). For school
35 district B, the tax rate multiplied by the preceding tax year's
36 equalized assessed value of all taxable property is $1,012,500

 

 

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1 (1.35% multiplied by $75,000,000). The sum of these 2 amounts
2 is $1,762,500. The grant for school district A is $5,000,000
3 (the total amount of grant moneys available) multiplied by
4 $750,000 and then the product is divided by $1,762,500. School
5 district A's grant is $2,127,660. The grant for school district
6 B is $5,000,000 (the total amount of grant moneys available)
7 multiplied by $1,012,500 and then the product is divided by
8 $1,762,500. School district B's grant is $2,872,340.
9     The Department must adopt rules to determine the
10 computation of the grant amount for a school district that has
11 undergone school district reorganization under Article 7, 7A,
12 11A, 11B, or 11D of the School Code (for example:
13 consolidation, conversion into a different type of district, or
14 creation of a new district).
15     (d) On November 15, 16, or 17 of each year beginning in
16 2004, the Department must certify to the county clerk of each
17 county the amount of the grant for each school district lying
18 wholly or partly in the county to be paid to the county
19 collector for distribution to the school district. The amount
20 of the grant for a school district that lies partly in the
21 county shall be that amount which bears the same ratio to the
22 grant for the whole school district as the equalized assessed
23 value of the taxable property in the school district for the
24 preceding tax year that lies in the county bears to the
25 equalized assessed value of all taxable property in the school
26 district for the preceding tax year.
27     (e) Upon receipt of a notice from the county clerk required
28 under Section 18-178 of the Property Tax Code that the
29 extension for educational purposes has been determined and
30 abated for each school district or part of a school district in
31 the county, the Department must certify to the Comptroller the
32 amount of the school district property tax relief grant to be
33 paid to the county collector. The Comptroller must promptly pay
34 the grants to the county collector. Upon receipt of the school
35 district property tax relief grants, the county collector must
36 pay the grants to the respective school districts within 5

 

 

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1 business days.
 
2     Section 15-10. The Illinois Income Tax Act is amended by
3 changing Sections 201, 804, and 901 and by adding Section 202.5
4 as follows:
 
5     (35 ILCS 5/201)  (from Ch. 120, par. 2-201)
6     Sec. 201. Tax Imposed.
7     (a) In general. A tax measured by net income is hereby
8 imposed on every individual, corporation, trust and estate for
9 each taxable year ending after July 31, 1969 on the privilege
10 of earning or receiving income in or as a resident of this
11 State. Such tax shall be in addition to all other occupation or
12 privilege taxes imposed by this State or by any municipal
13 corporation or political subdivision thereof.
14     (b) Rates. The tax imposed by subsection (a) of this
15 Section shall be determined as follows, except as adjusted by
16 subsection (d-1):
17         (1) In the case of an individual, trust or estate, for
18     taxable years ending prior to July 1, 1989, an amount equal
19     to 2 1/2% of the taxpayer's net income for the taxable
20     year.
21         (2) In the case of an individual, trust or estate, for
22     taxable years beginning prior to July 1, 1989 and ending
23     after June 30, 1989, an amount equal to the sum of (i) 2
24     1/2% of the taxpayer's net income for the period prior to
25     July 1, 1989, as calculated under Section 202.3, and (ii)
26     3% of the taxpayer's net income for the period after June
27     30, 1989, as calculated under Section 202.3.
28         (3) In the case of an individual, trust or estate, for
29     taxable years beginning after June 30, 1989 and ending
30     prior to July 1, 2004, an amount equal to 3% of the
31     taxpayer's net income for the taxable year.
32         (4) In the case of an individual, trust, or estate, for
33     taxable years beginning prior to July 1, 2004 and ending
34     after June 30, 2004, an amount equal to the sum of (i) 3%

 

 

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1     of the taxpayer's net income for the period prior to July
2     1, 2004, as calculated under Section 202.5, and (ii) 4% of
3     the taxpayer's net income for the period after June 30,
4     2004, as calculated under Section 202.5 (Blank).
5         (5) In the case of an individual, trust, or estate, for
6     taxable years beginning after June 30, 2004, an amount
7     equal to 4% of the taxpayer's net income for the taxable
8     year (Blank).
9         (6) In the case of a corporation, for taxable years
10     ending prior to July 1, 1989, an amount equal to 4% of the
11     taxpayer's net income for the taxable year.
12         (7) In the case of a corporation, for taxable years
13     beginning prior to July 1, 1989 and ending after June 30,
14     1989, an amount equal to the sum of (i) 4% of the
15     taxpayer's net income for the period prior to July 1, 1989,
16     as calculated under Section 202.3, and (ii) 4.8% of the
17     taxpayer's net income for the period after June 30, 1989,
18     as calculated under Section 202.3.
19         (8) In the case of a corporation, for taxable years
20     beginning after June 30, 1989 and ending prior to July 1,
21     2004, an amount equal to 4.8% of the taxpayer's net income
22     for the taxable year.
23         (9) In the case of a corporation, for taxable years
24     beginning prior to July 1, 2004 and ending after June 30,
25     2004, an amount equal to the sum of (i) 4.8% of the
26     taxpayer's net income for the period prior to July 1, 2004,
27     as calculated under Section 202.5, and (ii) 6.4% of the
28     taxpayer's net income for the period after June 30, 2004,
29     as calculated under Section 202.5.
30         (10) In the case of a corporation, for taxable years
31     beginning after June 30, 2004, an amount equal to 6.4% of
32     the taxpayer's net income for the taxable year.
33     (c) Personal Property Tax Replacement Income Tax.
34 Beginning on July 1, 1979 and thereafter, in addition to such
35 income tax, there is also hereby imposed the Personal Property
36 Tax Replacement Income Tax measured by net income on every

 

 

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1 corporation (including Subchapter S corporations), partnership
2 and trust, for each taxable year ending after June 30, 1979.
3 Such taxes are imposed on the privilege of earning or receiving
4 income in or as a resident of this State. The Personal Property
5 Tax Replacement Income Tax shall be in addition to the income
6 tax imposed by subsections (a) and (b) of this Section and in
7 addition to all other occupation or privilege taxes imposed by
8 this State or by any municipal corporation or political
9 subdivision thereof.
10     (d) Additional Personal Property Tax Replacement Income
11 Tax Rates. The personal property tax replacement income tax
12 imposed by this subsection and subsection (c) of this Section
13 in the case of a corporation, other than a Subchapter S
14 corporation and except as adjusted by subsection (d-1), shall
15 be an additional amount equal to 2.85% of such taxpayer's net
16 income for the taxable year, except that beginning on January
17 1, 1981, and thereafter, the rate of 2.85% specified in this
18 subsection shall be reduced to 2.5%, and in the case of a
19 partnership, trust or a Subchapter S corporation shall be an
20 additional amount equal to 1.5% of such taxpayer's net income
21 for the taxable year.
22     (d-1) Rate reduction for certain foreign insurers. In the
23 case of a foreign insurer, as defined by Section 35A-5 of the
24 Illinois Insurance Code, whose state or country of domicile
25 imposes on insurers domiciled in Illinois a retaliatory tax
26 (excluding any insurer whose premiums from reinsurance assumed
27 are 50% or more of its total insurance premiums as determined
28 under paragraph (2) of subsection (b) of Section 304, except
29 that for purposes of this determination premiums from
30 reinsurance do not include premiums from inter-affiliate
31 reinsurance arrangements), beginning with taxable years ending
32 on or after December 31, 1999, the sum of the rates of tax
33 imposed by subsections (b) and (d) shall be reduced (but not
34 increased) to the rate at which the total amount of tax imposed
35 under this Act, net of all credits allowed under this Act,
36 shall equal (i) the total amount of tax that would be imposed

 

 

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1 on the foreign insurer's net income allocable to Illinois for
2 the taxable year by such foreign insurer's state or country of
3 domicile if that net income were subject to all income taxes
4 and taxes measured by net income imposed by such foreign
5 insurer's state or country of domicile, net of all credits
6 allowed or (ii) a rate of zero if no such tax is imposed on such
7 income by the foreign insurer's state of domicile. For the
8 purposes of this subsection (d-1), an inter-affiliate includes
9 a mutual insurer under common management.
10         (1) For the purposes of subsection (d-1), in no event
11     shall the sum of the rates of tax imposed by subsections
12     (b) and (d) be reduced below the rate at which the sum of:
13             (A) the total amount of tax imposed on such foreign
14         insurer under this Act for a taxable year, net of all
15         credits allowed under this Act, plus
16             (B) the privilege tax imposed by Section 409 of the
17         Illinois Insurance Code, the fire insurance company
18         tax imposed by Section 12 of the Fire Investigation
19         Act, and the fire department taxes imposed under
20         Section 11-10-1 of the Illinois Municipal Code,
21     equals 1.25% for taxable years ending prior to December 31,
22     2003, or 1.75% for taxable years ending on or after
23     December 31, 2003, of the net taxable premiums written for
24     the taxable year, as described by subsection (1) of Section
25     409 of the Illinois Insurance Code. This paragraph will in
26     no event increase the rates imposed under subsections (b)
27     and (d).
28         (2) Any reduction in the rates of tax imposed by this
29     subsection shall be applied first against the rates imposed
30     by subsection (b) and only after the tax imposed by
31     subsection (a) net of all credits allowed under this
32     Section other than the credit allowed under subsection (i)
33     has been reduced to zero, against the rates imposed by
34     subsection (d).
35     This subsection (d-1) is exempt from the provisions of
36 Section 250.

 

 

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1     (e) Investment credit. A taxpayer shall be allowed a credit
2 against the Personal Property Tax Replacement Income Tax for
3 investment in qualified property.
4         (1) A taxpayer shall be allowed a credit equal to .5%
5     of the basis of qualified property placed in service during
6     the taxable year, provided such property is placed in
7     service on or after July 1, 1984. There shall be allowed an
8     additional credit equal to .5% of the basis of qualified
9     property placed in service during the taxable year,
10     provided such property is placed in service on or after
11     July 1, 1986, and the taxpayer's base employment within
12     Illinois has increased by 1% or more over the preceding
13     year as determined by the taxpayer's employment records
14     filed with the Illinois Department of Employment Security.
15     Taxpayers who are new to Illinois shall be deemed to have
16     met the 1% growth in base employment for the first year in
17     which they file employment records with the Illinois
18     Department of Employment Security. The provisions added to
19     this Section by Public Act 85-1200 (and restored by Public
20     Act 87-895) shall be construed as declaratory of existing
21     law and not as a new enactment. If, in any year, the
22     increase in base employment within Illinois over the
23     preceding year is less than 1%, the additional credit shall
24     be limited to that percentage times a fraction, the
25     numerator of which is .5% and the denominator of which is
26     1%, but shall not exceed .5%. The investment credit shall
27     not be allowed to the extent that it would reduce a
28     taxpayer's liability in any tax year below zero, nor may
29     any credit for qualified property be allowed for any year
30     other than the year in which the property was placed in
31     service in Illinois. For tax years ending on or after
32     December 31, 1987, and on or before December 31, 1988, the
33     credit shall be allowed for the tax year in which the
34     property is placed in service, or, if the amount of the
35     credit exceeds the tax liability for that year, whether it
36     exceeds the original liability or the liability as later

 

 

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1     amended, such excess may be carried forward and applied to
2     the tax liability of the 5 taxable years following the
3     excess credit years if the taxpayer (i) makes investments
4     which cause the creation of a minimum of 2,000 full-time
5     equivalent jobs in Illinois, (ii) is located in an
6     enterprise zone established pursuant to the Illinois
7     Enterprise Zone Act and (iii) is certified by the
8     Department of Commerce and Community Affairs (now
9     Department of Commerce and Economic Opportunity) as
10     complying with the requirements specified in clause (i) and
11     (ii) by July 1, 1986. The Department of Commerce and
12     Community Affairs (now Department of Commerce and Economic
13     Opportunity) shall notify the Department of Revenue of all
14     such certifications immediately. For tax years ending
15     after December 31, 1988, the credit shall be allowed for
16     the tax year in which the property is placed in service,
17     or, if the amount of the credit exceeds the tax liability
18     for that year, whether it exceeds the original liability or
19     the liability as later amended, such excess may be carried
20     forward and applied to the tax liability of the 5 taxable
21     years following the excess credit years. The credit shall
22     be applied to the earliest year for which there is a
23     liability. If there is credit from more than one tax year
24     that is available to offset a liability, earlier credit
25     shall be applied first.
26         (2) The term "qualified property" means property
27     which:
28             (A) is tangible, whether new or used, including
29         buildings and structural components of buildings and
30         signs that are real property, but not including land or
31         improvements to real property that are not a structural
32         component of a building such as landscaping, sewer
33         lines, local access roads, fencing, parking lots, and
34         other appurtenances;
35             (B) is depreciable pursuant to Section 167 of the
36         Internal Revenue Code, except that "3-year property"

 

 

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1         as defined in Section 168(c)(2)(A) of that Code is not
2         eligible for the credit provided by this subsection
3         (e);
4             (C) is acquired by purchase as defined in Section
5         179(d) of the Internal Revenue Code;
6             (D) is used in Illinois by a taxpayer who is
7         primarily engaged in manufacturing, or in mining coal
8         or fluorite, or in retailing; and
9             (E) has not previously been used in Illinois in
10         such a manner and by such a person as would qualify for
11         the credit provided by this subsection (e) or
12         subsection (f).
13         (3) For purposes of this subsection (e),
14     "manufacturing" means the material staging and production
15     of tangible personal property by procedures commonly
16     regarded as manufacturing, processing, fabrication, or
17     assembling which changes some existing material into new
18     shapes, new qualities, or new combinations. For purposes of
19     this subsection (e) the term "mining" shall have the same
20     meaning as the term "mining" in Section 613(c) of the
21     Internal Revenue Code. For purposes of this subsection (e),
22     the term "retailing" means the sale of tangible personal
23     property or services rendered in conjunction with the sale
24     of tangible consumer goods or commodities.
25         (4) The basis of qualified property shall be the basis
26     used to compute the depreciation deduction for federal
27     income tax purposes.
28         (5) If the basis of the property for federal income tax
29     depreciation purposes is increased after it has been placed
30     in service in Illinois by the taxpayer, the amount of such
31     increase shall be deemed property placed in service on the
32     date of such increase in basis.
33         (6) The term "placed in service" shall have the same
34     meaning as under Section 46 of the Internal Revenue Code.
35         (7) If during any taxable year, any property ceases to
36     be qualified property in the hands of the taxpayer within

 

 

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1     48 months after being placed in service, or the situs of
2     any qualified property is moved outside Illinois within 48
3     months after being placed in service, the Personal Property
4     Tax Replacement Income Tax for such taxable year shall be
5     increased. Such increase shall be determined by (i)
6     recomputing the investment credit which would have been
7     allowed for the year in which credit for such property was
8     originally allowed by eliminating such property from such
9     computation and, (ii) subtracting such recomputed credit
10     from the amount of credit previously allowed. For the
11     purposes of this paragraph (7), a reduction of the basis of
12     qualified property resulting from a redetermination of the
13     purchase price shall be deemed a disposition of qualified
14     property to the extent of such reduction.
15         (8) Unless the investment credit is extended by law,
16     the basis of qualified property shall not include costs
17     incurred after December 31, 2003, except for costs incurred
18     pursuant to a binding contract entered into on or before
19     December 31, 2003.
20         (9) Each taxable year ending before December 31, 2000,
21     a partnership may elect to pass through to its partners the
22     credits to which the partnership is entitled under this
23     subsection (e) for the taxable year. A partner may use the
24     credit allocated to him or her under this paragraph only
25     against the tax imposed in subsections (c) and (d) of this
26     Section. If the partnership makes that election, those
27     credits shall be allocated among the partners in the
28     partnership in accordance with the rules set forth in
29     Section 704(b) of the Internal Revenue Code, and the rules
30     promulgated under that Section, and the allocated amount of
31     the credits shall be allowed to the partners for that
32     taxable year. The partnership shall make this election on
33     its Personal Property Tax Replacement Income Tax return for
34     that taxable year. The election to pass through the credits
35     shall be irrevocable.
36         For taxable years ending on or after December 31, 2000,

 

 

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1     a partner that qualifies its partnership for a subtraction
2     under subparagraph (I) of paragraph (2) of subsection (d)
3     of Section 203 or a shareholder that qualifies a Subchapter
4     S corporation for a subtraction under subparagraph (S) of
5     paragraph (2) of subsection (b) of Section 203 shall be
6     allowed a credit under this subsection (e) equal to its
7     share of the credit earned under this subsection (e) during
8     the taxable year by the partnership or Subchapter S
9     corporation, determined in accordance with the
10     determination of income and distributive share of income
11     under Sections 702 and 704 and Subchapter S of the Internal
12     Revenue Code. This paragraph is exempt from the provisions
13     of Section 250.
14       (f) Investment credit; Enterprise Zone.
15         (1) A taxpayer shall be allowed a credit against the
16     tax imposed by subsections (a) and (b) of this Section for
17     investment in qualified property which is placed in service
18     in an Enterprise Zone created pursuant to the Illinois
19     Enterprise Zone Act. For partners, shareholders of
20     Subchapter S corporations, and owners of limited liability
21     companies, if the liability company is treated as a
22     partnership for purposes of federal and State income
23     taxation, there shall be allowed a credit under this
24     subsection (f) to be determined in accordance with the
25     determination of income and distributive share of income
26     under Sections 702 and 704 and Subchapter S of the Internal
27     Revenue Code. The credit shall be .5% of the basis for such
28     property. The credit shall be available only in the taxable
29     year in which the property is placed in service in the
30     Enterprise Zone and shall not be allowed to the extent that
31     it would reduce a taxpayer's liability for the tax imposed
32     by subsections (a) and (b) of this Section to below zero.
33     For tax years ending on or after December 31, 1985, the
34     credit shall be allowed for the tax year in which the
35     property is placed in service, or, if the amount of the
36     credit exceeds the tax liability for that year, whether it

 

 

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1     exceeds the original liability or the liability as later
2     amended, such excess may be carried forward and applied to
3     the tax liability of the 5 taxable years following the
4     excess credit year. The credit shall be applied to the
5     earliest year for which there is a liability. If there is
6     credit from more than one tax year that is available to
7     offset a liability, the credit accruing first in time shall
8     be applied first.
9         (2) The term qualified property means property which:
10             (A) is tangible, whether new or used, including
11         buildings and structural components of buildings;
12             (B) is depreciable pursuant to Section 167 of the
13         Internal Revenue Code, except that "3-year property"
14         as defined in Section 168(c)(2)(A) of that Code is not
15         eligible for the credit provided by this subsection
16         (f);
17             (C) is acquired by purchase as defined in Section
18         179(d) of the Internal Revenue Code;
19             (D) is used in the Enterprise Zone by the taxpayer;
20         and
21             (E) has not been previously used in Illinois in
22         such a manner and by such a person as would qualify for
23         the credit provided by this subsection (f) or
24         subsection (e).
25         (3) The basis of qualified property shall be the basis
26     used to compute the depreciation deduction for federal
27     income tax purposes.
28         (4) If the basis of the property for federal income tax
29     depreciation purposes is increased after it has been placed
30     in service in the Enterprise Zone by the taxpayer, the
31     amount of such increase shall be deemed property placed in
32     service on the date of such increase in basis.
33         (5) The term "placed in service" shall have the same
34     meaning as under Section 46 of the Internal Revenue Code.
35         (6) If during any taxable year, any property ceases to
36     be qualified property in the hands of the taxpayer within

 

 

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1     48 months after being placed in service, or the situs of
2     any qualified property is moved outside the Enterprise Zone
3     within 48 months after being placed in service, the tax
4     imposed under subsections (a) and (b) of this Section for
5     such taxable year shall be increased. Such increase shall
6     be determined by (i) recomputing the investment credit
7     which would have been allowed for the year in which credit
8     for such property was originally allowed by eliminating
9     such property from such computation, and (ii) subtracting
10     such recomputed credit from the amount of credit previously
11     allowed. For the purposes of this paragraph (6), a
12     reduction of the basis of qualified property resulting from
13     a redetermination of the purchase price shall be deemed a
14     disposition of qualified property to the extent of such
15     reduction.
16       (g) Jobs Tax Credit; Enterprise Zone and Foreign Trade
17 Zone or Sub-Zone.
18         (1) A taxpayer conducting a trade or business in an
19     enterprise zone or a High Impact Business designated by the
20     Department of Commerce and Economic Opportunity Community
21     Affairs conducting a trade or business in a federally
22     designated Foreign Trade Zone or Sub-Zone shall be allowed
23     a credit against the tax imposed by subsections (a) and (b)
24     of this Section in the amount of $500 per eligible employee
25     hired to work in the zone during the taxable year.
26         (2) To qualify for the credit:
27             (A) the taxpayer must hire 5 or more eligible
28         employees to work in an enterprise zone or federally
29         designated Foreign Trade Zone or Sub-Zone during the
30         taxable year;
31             (B) the taxpayer's total employment within the
32         enterprise zone or federally designated Foreign Trade
33         Zone or Sub-Zone must increase by 5 or more full-time
34         employees beyond the total employed in that zone at the
35         end of the previous tax year for which a jobs tax
36         credit under this Section was taken, or beyond the

 

 

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1         total employed by the taxpayer as of December 31, 1985,
2         whichever is later; and
3             (C) the eligible employees must be employed 180
4         consecutive days in order to be deemed hired for
5         purposes of this subsection.
6         (3) An "eligible employee" means an employee who is:
7             (A) Certified by the Department of Commerce and
8         Economic Opportunity Community Affairs as "eligible
9         for services" pursuant to regulations promulgated in
10         accordance with Title II of the Job Training
11         Partnership Act, Training Services for the
12         Disadvantaged or Title III of the Job Training
13         Partnership Act, Employment and Training Assistance
14         for Dislocated Workers Program.
15             (B) Hired after the enterprise zone or federally
16         designated Foreign Trade Zone or Sub-Zone was
17         designated or the trade or business was located in that
18         zone, whichever is later.
19             (C) Employed in the enterprise zone or Foreign
20         Trade Zone or Sub-Zone. An employee is employed in an
21         enterprise zone or federally designated Foreign Trade
22         Zone or Sub-Zone if his services are rendered there or
23         it is the base of operations for the services
24         performed.
25             (D) A full-time employee working 30 or more hours
26         per week.
27         (4) For tax years ending on or after December 31, 1985
28     and prior to December 31, 1988, the credit shall be allowed
29     for the tax year in which the eligible employees are hired.
30     For tax years ending on or after December 31, 1988, the
31     credit shall be allowed for the tax year immediately
32     following the tax year in which the eligible employees are
33     hired. If the amount of the credit exceeds the tax
34     liability for that year, whether it exceeds the original
35     liability or the liability as later amended, such excess
36     may be carried forward and applied to the tax liability of

 

 

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1     the 5 taxable years following the excess credit year. The
2     credit shall be applied to the earliest year for which
3     there is a liability. If there is credit from more than one
4     tax year that is available to offset a liability, earlier
5     credit shall be applied first.
6         (5) The Department of Revenue shall promulgate such
7     rules and regulations as may be deemed necessary to carry
8     out the purposes of this subsection (g).
9         (6) The credit shall be available for eligible
10     employees hired on or after January 1, 1986.
11     (h) Investment credit; High Impact Business.
12         (1) Subject to subsections (b) and (b-5) of Section 5.5
13     of the Illinois Enterprise Zone Act, a taxpayer shall be
14     allowed a credit against the tax imposed by subsections (a)
15     and (b) of this Section for investment in qualified
16     property which is placed in service by a Department of
17     Commerce and Economic Opportunity Community Affairs
18     designated High Impact Business. The credit shall be .5% of
19     the basis for such property. The credit shall not be
20     available (i) until the minimum investments in qualified
21     property set forth in subdivision (a)(3)(A) of Section 5.5
22     of the Illinois Enterprise Zone Act have been satisfied or
23     (ii) until the time authorized in subsection (b-5) of the
24     Illinois Enterprise Zone Act for entities designated as
25     High Impact Businesses under subdivisions (a)(3)(B),
26     (a)(3)(C), and (a)(3)(D) of Section 5.5 of the Illinois
27     Enterprise Zone Act, and shall not be allowed to the extent
28     that it would reduce a taxpayer's liability for the tax
29     imposed by subsections (a) and (b) of this Section to below
30     zero. The credit applicable to such investments shall be
31     taken in the taxable year in which such investments have
32     been completed. The credit for additional investments
33     beyond the minimum investment by a designated high impact
34     business authorized under subdivision (a)(3)(A) of Section
35     5.5 of the Illinois Enterprise Zone Act shall be available
36     only in the taxable year in which the property is placed in

 

 

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1     service and shall not be allowed to the extent that it
2     would reduce a taxpayer's liability for the tax imposed by
3     subsections (a) and (b) of this Section to below zero. For
4     tax years ending on or after December 31, 1987, the credit
5     shall be allowed for the tax year in which the property is
6     placed in service, or, if the amount of the credit exceeds
7     the tax liability for that year, whether it exceeds the
8     original liability or the liability as later amended, such
9     excess may be carried forward and applied to the tax
10     liability of the 5 taxable years following the excess
11     credit year. The credit shall be applied to the earliest
12     year for which there is a liability. If there is credit
13     from more than one tax year that is available to offset a
14     liability, the credit accruing first in time shall be
15     applied first.
16         Changes made in this subdivision (h)(1) by Public Act
17     88-670 restore changes made by Public Act 85-1182 and
18     reflect existing law.
19         (2) The term qualified property means property which:
20             (A) is tangible, whether new or used, including
21         buildings and structural components of buildings;
22             (B) is depreciable pursuant to Section 167 of the
23         Internal Revenue Code, except that "3-year property"
24         as defined in Section 168(c)(2)(A) of that Code is not
25         eligible for the credit provided by this subsection
26         (h);
27             (C) is acquired by purchase as defined in Section
28         179(d) of the Internal Revenue Code; and
29             (D) is not eligible for the Enterprise Zone
30         Investment Credit provided by subsection (f) of this
31         Section.
32         (3) The basis of qualified property shall be the basis
33     used to compute the depreciation deduction for federal
34     income tax purposes.
35         (4) If the basis of the property for federal income tax
36     depreciation purposes is increased after it has been placed

 

 

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1     in service in a federally designated Foreign Trade Zone or
2     Sub-Zone located in Illinois by the taxpayer, the amount of
3     such increase shall be deemed property placed in service on
4     the date of such increase in basis.
5         (5) The term "placed in service" shall have the same
6     meaning as under Section 46 of the Internal Revenue Code.
7         (6) If during any taxable year ending on or before
8     December 31, 1996, any property ceases to be qualified
9     property in the hands of the taxpayer within 48 months
10     after being placed in service, or the situs of any
11     qualified property is moved outside Illinois within 48
12     months after being placed in service, the tax imposed under
13     subsections (a) and (b) of this Section for such taxable
14     year shall be increased. Such increase shall be determined
15     by (i) recomputing the investment credit which would have
16     been allowed for the year in which credit for such property
17     was originally allowed by eliminating such property from
18     such computation, and (ii) subtracting such recomputed
19     credit from the amount of credit previously allowed. For
20     the purposes of this paragraph (6), a reduction of the
21     basis of qualified property resulting from a
22     redetermination of the purchase price shall be deemed a
23     disposition of qualified property to the extent of such
24     reduction.
25         (7) Beginning with tax years ending after December 31,
26     1996, if a taxpayer qualifies for the credit under this
27     subsection (h) and thereby is granted a tax abatement and
28     the taxpayer relocates its entire facility in violation of
29     the explicit terms and length of the contract under Section
30     18-183 of the Property Tax Code, the tax imposed under
31     subsections (a) and (b) of this Section shall be increased
32     for the taxable year in which the taxpayer relocated its
33     facility by an amount equal to the amount of credit
34     received by the taxpayer under this subsection (h).
35     (i) Credit for Personal Property Tax Replacement Income
36 Tax. For tax years ending prior to December 31, 2003, a credit

 

 

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1 shall be allowed against the tax imposed by subsections (a) and
2 (b) of this Section for the tax imposed by subsections (c) and
3 (d) of this Section. This credit shall be computed by
4 multiplying the tax imposed by subsections (c) and (d) of this
5 Section by a fraction, the numerator of which is base income
6 allocable to Illinois and the denominator of which is Illinois
7 base income, and further multiplying the product by the tax
8 rate imposed by subsections (a) and (b) of this Section.
9     Any credit earned on or after December 31, 1986 under this
10 subsection which is unused in the year the credit is computed
11 because it exceeds the tax liability imposed by subsections (a)
12 and (b) for that year (whether it exceeds the original
13 liability or the liability as later amended) may be carried
14 forward and applied to the tax liability imposed by subsections
15 (a) and (b) of the 5 taxable years following the excess credit
16 year, provided that no credit may be carried forward to any
17 year ending on or after December 31, 2003. This credit shall be
18 applied first to the earliest year for which there is a
19 liability. If there is a credit under this subsection from more
20 than one tax year that is available to offset a liability the
21 earliest credit arising under this subsection shall be applied
22 first.
23     If, during any taxable year ending on or after December 31,
24 1986, the tax imposed by subsections (c) and (d) of this
25 Section for which a taxpayer has claimed a credit under this
26 subsection (i) is reduced, the amount of credit for such tax
27 shall also be reduced. Such reduction shall be determined by
28 recomputing the credit to take into account the reduced tax
29 imposed by subsections (c) and (d). If any portion of the
30 reduced amount of credit has been carried to a different
31 taxable year, an amended return shall be filed for such taxable
32 year to reduce the amount of credit claimed.
33     (j) Training expense credit. Beginning with tax years
34 ending on or after December 31, 1986 and prior to December 31,
35 2003, a taxpayer shall be allowed a credit against the tax
36 imposed by subsections (a) and (b) under this Section for all

 

 

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1 amounts paid or accrued, on behalf of all persons employed by
2 the taxpayer in Illinois or Illinois residents employed outside
3 of Illinois by a taxpayer, for educational or vocational
4 training in semi-technical or technical fields or semi-skilled
5 or skilled fields, which were deducted from gross income in the
6 computation of taxable income. The credit against the tax
7 imposed by subsections (a) and (b) shall be 1.6% of such
8 training expenses. For partners, shareholders of subchapter S
9 corporations, and owners of limited liability companies, if the
10 liability company is treated as a partnership for purposes of
11 federal and State income taxation, there shall be allowed a
12 credit under this subsection (j) to be determined in accordance
13 with the determination of income and distributive share of
14 income under Sections 702 and 704 and subchapter S of the
15 Internal Revenue Code.
16     Any credit allowed under this subsection which is unused in
17 the year the credit is earned may be carried forward to each of
18 the 5 taxable years following the year for which the credit is
19 first computed until it is used. This credit shall be applied
20 first to the earliest year for which there is a liability. If
21 there is a credit under this subsection from more than one tax
22 year that is available to offset a liability the earliest
23 credit arising under this subsection shall be applied first. No
24 carryforward credit may be claimed in any tax year ending on or
25 after December 31, 2003.
26     (k) Research and development credit.
27     For tax years ending after July 1, 1990 and prior to
28 December 31, 2003, a taxpayer shall be allowed a credit against
29 the tax imposed by subsections (a) and (b) of this Section for
30 increasing research activities in this State. The credit
31 allowed against the tax imposed by subsections (a) and (b)
32 shall be equal to 6 1/2% of the qualifying expenditures for
33 increasing research activities in this State. For partners,
34 shareholders of subchapter S corporations, and owners of
35 limited liability companies, if the liability company is
36 treated as a partnership for purposes of federal and State

 

 

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1 income taxation, there shall be allowed a credit under this
2 subsection to be determined in accordance with the
3 determination of income and distributive share of income under
4 Sections 702 and 704 and subchapter S of the Internal Revenue
5 Code.
6     For purposes of this subsection, "qualifying expenditures"
7 means the qualifying expenditures as defined for the federal
8 credit for increasing research activities which would be
9 allowable under Section 41 of the Internal Revenue Code and
10 which are conducted in this State, "qualifying expenditures for
11 increasing research activities in this State" means the excess
12 of qualifying expenditures for the taxable year in which
13 incurred over qualifying expenditures for the base period,
14 "qualifying expenditures for the base period" means the average
15 of the qualifying expenditures for each year in the base
16 period, and "base period" means the 3 taxable years immediately
17 preceding the taxable year for which the determination is being
18 made.
19     Any credit in excess of the tax liability for the taxable
20 year may be carried forward. A taxpayer may elect to have the
21 unused credit shown on its final completed return carried over
22 as a credit against the tax liability for the following 5
23 taxable years or until it has been fully used, whichever occurs
24 first; provided that no credit may be carried forward to any
25 year ending on or after December 31, 2003.
26     If an unused credit is carried forward to a given year from
27 2 or more earlier years, that credit arising in the earliest
28 year will be applied first against the tax liability for the
29 given year. If a tax liability for the given year still
30 remains, the credit from the next earliest year will then be
31 applied, and so on, until all credits have been used or no tax
32 liability for the given year remains. Any remaining unused
33 credit or credits then will be carried forward to the next
34 following year in which a tax liability is incurred, except
35 that no credit can be carried forward to a year which is more
36 than 5 years after the year in which the expense for which the

 

 

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1 credit is given was incurred.
2     No inference shall be drawn from this amendatory Act of the
3 91st General Assembly in construing this Section for taxable
4 years beginning before January 1, 1999.
5     (l) Environmental Remediation Tax Credit.
6         (i) For tax years ending after December 31, 1997 and on
7     or before December 31, 2001, a taxpayer shall be allowed a
8     credit against the tax imposed by subsections (a) and (b)
9     of this Section for certain amounts paid for unreimbursed
10     eligible remediation costs, as specified in this
11     subsection. For purposes of this Section, "unreimbursed
12     eligible remediation costs" means costs approved by the
13     Illinois Environmental Protection Agency ("Agency") under
14     Section 58.14 of the Environmental Protection Act that were
15     paid in performing environmental remediation at a site for
16     which a No Further Remediation Letter was issued by the
17     Agency and recorded under Section 58.10 of the
18     Environmental Protection Act. The credit must be claimed
19     for the taxable year in which Agency approval of the
20     eligible remediation costs is granted. The credit is not
21     available to any taxpayer if the taxpayer or any related
22     party caused or contributed to, in any material respect, a
23     release of regulated substances on, in, or under the site
24     that was identified and addressed by the remedial action
25     pursuant to the Site Remediation Program of the
26     Environmental Protection Act. After the Pollution Control
27     Board rules are adopted pursuant to the Illinois
28     Administrative Procedure Act for the administration and
29     enforcement of Section 58.9 of the Environmental
30     Protection Act, determinations as to credit availability
31     for purposes of this Section shall be made consistent with
32     those rules. For purposes of this Section, "taxpayer"
33     includes a person whose tax attributes the taxpayer has
34     succeeded to under Section 381 of the Internal Revenue Code
35     and "related party" includes the persons disallowed a
36     deduction for losses by paragraphs (b), (c), and (f)(1) of

 

 

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1     Section 267 of the Internal Revenue Code by virtue of being
2     a related taxpayer, as well as any of its partners. The
3     credit allowed against the tax imposed by subsections (a)
4     and (b) shall be equal to 25% of the unreimbursed eligible
5     remediation costs in excess of $100,000 per site, except
6     that the $100,000 threshold shall not apply to any site
7     contained in an enterprise zone as determined by the
8     Department of Commerce and Community Affairs (now
9     Department of Commerce and Economic Opportunity). The
10     total credit allowed shall not exceed $40,000 per year with
11     a maximum total of $150,000 per site. For partners and
12     shareholders of subchapter S corporations, there shall be
13     allowed a credit under this subsection to be determined in
14     accordance with the determination of income and
15     distributive share of income under Sections 702 and 704 and
16     subchapter S of the Internal Revenue Code.
17         (ii) A credit allowed under this subsection that is
18     unused in the year the credit is earned may be carried
19     forward to each of the 5 taxable years following the year
20     for which the credit is first earned until it is used. The
21     term "unused credit" does not include any amounts of
22     unreimbursed eligible remediation costs in excess of the
23     maximum credit per site authorized under paragraph (i).
24     This credit shall be applied first to the earliest year for
25     which there is a liability. If there is a credit under this
26     subsection from more than one tax year that is available to
27     offset a liability, the earliest credit arising under this
28     subsection shall be applied first. A credit allowed under
29     this subsection may be sold to a buyer as part of a sale of
30     all or part of the remediation site for which the credit
31     was granted. The purchaser of a remediation site and the
32     tax credit shall succeed to the unused credit and remaining
33     carry-forward period of the seller. To perfect the
34     transfer, the assignor shall record the transfer in the
35     chain of title for the site and provide written notice to
36     the Director of the Illinois Department of Revenue of the

 

 

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1     assignor's intent to sell the remediation site and the
2     amount of the tax credit to be transferred as a portion of
3     the sale. In no event may a credit be transferred to any
4     taxpayer if the taxpayer or a related party would not be
5     eligible under the provisions of subsection (i).
6         (iii) For purposes of this Section, the term "site"
7     shall have the same meaning as under Section 58.2 of the
8     Environmental Protection Act.
9     (m) Education expense credit. Beginning with tax years
10 ending after December 31, 1999, a taxpayer who is the custodian
11 of one or more qualifying pupils shall be allowed a credit
12 against the tax imposed by subsections (a) and (b) of this
13 Section for qualified education expenses incurred on behalf of
14 the qualifying pupils. The credit shall be equal to 25% of
15 qualified education expenses, but in no event may the total
16 credit under this subsection claimed by a family that is the
17 custodian of qualifying pupils exceed $500. In no event shall a
18 credit under this subsection reduce the taxpayer's liability
19 under this Act to less than zero. This subsection is exempt
20 from the provisions of Section 250 of this Act.
21     For purposes of this subsection:
22     "Qualifying pupils" means individuals who (i) are
23 residents of the State of Illinois, (ii) are under the age of
24 21 at the close of the school year for which a credit is
25 sought, and (iii) during the school year for which a credit is
26 sought were full-time pupils enrolled in a kindergarten through
27 twelfth grade education program at any school, as defined in
28 this subsection.
29     "Qualified education expense" means the amount incurred on
30 behalf of a qualifying pupil in excess of $250 for tuition,
31 book fees, and lab fees at the school in which the pupil is
32 enrolled during the regular school year.
33     "School" means any public or nonpublic elementary or
34 secondary school in Illinois that is in compliance with Title
35 VI of the Civil Rights Act of 1964 and attendance at which
36 satisfies the requirements of Section 26-1 of the School Code,

 

 

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1 except that nothing shall be construed to require a child to
2 attend any particular public or nonpublic school to qualify for
3 the credit under this Section.
4     "Custodian" means, with respect to qualifying pupils, an
5 Illinois resident who is a parent, the parents, a legal
6 guardian, or the legal guardians of the qualifying pupils.
7 (Source: P.A. 92-12, eff. 7-1-01; 92-16, eff. 6-28-01; 92-651,
8 eff. 7-11-02; 92-846, eff. 8-23-02; 93-29, eff. 6-20-03;
9 revised 12-6-03.)
 
10     (35 ILCS 5/202.5 new)
11     Sec. 202.5. Net income attributable to the period prior to
12 July 1, 2004 and net income attributable to the period after
13 June 30, 2004.
14     (a) In general. With respect to the taxable year of a
15 taxpayer beginning prior to July 1, 2004 and ending after June
16 30, 2004, net income for the period after June 30, 2004 shall
17 be that amount which bears the same ratio to the taxpayer's net
18 income for the entire taxable year as the number of days in
19 such year after June 30, 2004 bears to the total number of days
20 in such year, and the net income for the period prior to July
21 1, 2004 shall be that amount which bears the same ratio to the
22 taxpayer's net income for the entire taxable year as the number
23 of days in such year prior to July 1, 2004 bears to the total
24 number of days in such year.
25     (b) Election to attribute income and deduction items
26 specifically to the respective portions of a taxable year prior
27 to July 1, 2004 and after June 30, 2004. In the case of a
28 taxpayer with a taxable year beginning prior to July 1, 2004
29 and ending after June 30, 2004, the taxpayer may elect, in lieu
30 of the procedure established in subsection (a) of this Section,
31 to determine net income on a specific accounting basis for the
32 2 portions of his or her taxable year:
33         (i) from the beginning of the taxable year through June
34     30, 2004; and
35         (ii) from July 1, 2004 through the end of the taxable

 

 

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1     year.
2     If the taxpayer elects specific accounting under this
3 subsection, there shall be taken into account in computing base
4 income for each of the 2 portions of the taxable year only
5 those items earned, received, paid, incurred, or accrued in
6 each such period. The standard exemption provided by Section
7 204 shall be divided between the respective periods in amounts
8 that bear the same ratio to the total exemption allowable under
9 Section 204 (determined without regard to this Section) as the
10 total number of days in each such period bears to the total
11 number of days in the taxable year. The election provided by
12 this subsection shall be made in such manner and at such time
13 as the Department may by forms or regulations prescribe, but
14 shall be made not later than the due date (including any
15 extensions thereof) for the filing of the return for the
16 taxable year, and shall be irrevocable.
 
17     (35 ILCS 5/804)  (from Ch. 120, par. 8-804)
18     Sec. 804. Failure to Pay Estimated Tax.
19     (a) In general. In case of any underpayment of estimated
20 tax by a taxpayer, except as provided in subsection (d) or (e),
21 the taxpayer shall be liable to a penalty in an amount
22 determined at the rate prescribed by Section 3-3 of the Uniform
23 Penalty and Interest Act upon the amount of the underpayment
24 (determined under subsection (b)) for each required
25 installment.
26     (b) Amount of underpayment. For purposes of subsection (a),
27 the amount of the underpayment shall be the excess of:
28         (1) the amount of the installment which would be
29     required to be paid under subsection (c), over
30         (2) the amount, if any, of the installment paid on or
31     before the last date prescribed for payment.
32     (c) Amount of Required Installments.
33         (1) Amount.
34             (A) In General. Except as provided in paragraph
35         (2), the amount of any required installment shall be

 

 

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1         25% of the required annual payment.
2             (B) Required Annual Payment. For purposes of
3         subparagraph (A), the term "required annual payment"
4         means the lesser of
5                 (i) 90% of the tax shown on the return for the
6             taxable year, or if no return is filed, 90% of the
7             tax for such year, or
8                 (ii) 100% of the tax shown on the return of the
9             taxpayer for the preceding taxable year if a return
10             showing a liability for tax was filed by the
11             taxpayer for the preceding taxable year and such
12             preceding year was a taxable year of 12 months.
13         (2) Lower Required Installment where Annualized Income
14     Installment is Less Than Amount Determined Under Paragraph
15     (1).
16             (A) In General. In the case of any required
17         installment if a taxpayer establishes that the
18         annualized income installment is less than the amount
19         determined under paragraph (1),
20                 (i) the amount of such required installment
21             shall be the annualized income installment, and
22                 (ii) any reduction in a required installment
23             resulting from the application of this
24             subparagraph shall be recaptured by increasing the
25             amount of the next required installment determined
26             under paragraph (1) by the amount of such
27             reduction, and by increasing subsequent required
28             installments to the extent that the reduction has
29             not previously been recaptured under this clause.
30             (B) Determination of Annualized Income
31         Installment. In the case of any required installment,
32         the annualized income installment is the excess, if
33         any, of
34                 (i) an amount equal to the applicable
35             percentage of the tax for the taxable year computed
36             by placing on an annualized basis the net income

 

 

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1             for months in the taxable year ending before the
2             due date for the installment, over
3                 (ii) the aggregate amount of any prior
4             required installments for the taxable year.
5             (C) Applicable Percentage.
6        In the case of the followingThe applicable
7        required installments:percentage is:
8        1st ..............................22.5%
9        2nd ...............................45%
10        3rd ...............................67.5%
11        4th ...............................90%
12             (D) Annualized Net Income; Individuals. For
13         individuals, net income shall be placed on an
14         annualized basis by:
15                 (i) multiplying by 12, or in the case of a
16             taxable year of less than 12 months, by the number
17             of months in the taxable year, the net income
18             computed without regard to the standard exemption
19             for the months in the taxable year ending before
20             the month in which the installment is required to
21             be paid;
22                 (ii) dividing the resulting amount by the
23             number of months in the taxable year ending before
24             the month in which such installment date falls; and
25                 (iii) deducting from such amount the standard
26             exemption allowable for the taxable year, such
27             standard exemption being determined as of the last
28             date prescribed for payment of the installment.
29             (E) Annualized Net Income; Corporations. For
30         corporations, net income shall be placed on an
31         annualized basis by multiplying by 12 the taxable
32         income
33                 (i) for the first 3 months of the taxable year,
34             in the case of the installment required to be paid
35             in the 4th month,
36                 (ii) for the first 3 months or for the first 5

 

 

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1             months of the taxable year, in the case of the
2             installment required to be paid in the 6th month,
3                 (iii) for the first 6 months or for the first 8
4             months of the taxable year, in the case of the
5             installment required to be paid in the 9th month,
6             and
7                 (iv) for the first 9 months or for the first 11
8             months of the taxable year, in the case of the
9             installment required to be paid in the 12th month
10             of the taxable year,
11         then dividing the resulting amount by the number of
12         months in the taxable year (3, 5, 6, 8, 9, or 11 as the
13         case may be).
14     (d) Exceptions. Notwithstanding the provisions of the
15 preceding subsections, the penalty imposed by subsection (a)
16 shall not be imposed if the taxpayer was not required to file
17 an Illinois income tax return for the preceding taxable year,
18 or if the taxpayer has underpaid taxes solely because of the
19 increased rate in effect during the period from July 1, 2004
20 through December 31, 2004, or, for individuals, if the taxpayer
21 had no tax liability for the preceding taxable year and such
22 year was a taxable year of 12 months. The penalty imposed by
23 subsection (a) shall also not be imposed on any underpayments
24 of estimated tax due before the effective date of this
25 amendatory Act of 1998 which underpayments are solely
26 attributable to the change in apportionment from subsection (a)
27 to subsection (h) of Section 304. The provisions of this
28 amendatory Act of 1998 apply to tax years ending on or after
29 December 31, 1998.
30     (e) The penalty imposed for underpayment of estimated tax
31 by subsection (a) of this Section shall not be imposed to the
32 extent that the Department or his designate determines,
33 pursuant to Section 3-8 of the Uniform Penalty and Interest Act
34 that the penalty should not be imposed.
35     (f) Definition of tax. For purposes of subsections (b) and
36 (c), the term "tax" means the excess of the tax imposed under

 

 

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1 Article 2 of this Act, over the amounts credited against such
2 tax under Sections 601(b) (3) and (4).
3     (g) Application of Section in case of tax withheld on
4 compensation. For purposes of applying this Section in the case
5 of an individual, tax withheld under Article 7 for the taxable
6 year shall be deemed a payment of estimated tax, and an equal
7 part of such amount shall be deemed paid on each installment
8 date for such taxable year, unless the taxpayer establishes the
9 dates on which all amounts were actually withheld, in which
10 case the amounts so withheld shall be deemed payments of
11 estimated tax on the dates on which such amounts were actually
12 withheld.
13     (g-5) Amounts withheld under the State Salary and Annuity
14 Withholding Act. An individual who has amounts withheld under
15 paragraph (10) of Section 4 of the State Salary and Annuity
16 Withholding Act may elect to have those amounts treated as
17 payments of estimated tax made on the dates on which those
18 amounts are actually withheld.
19     (i) Short taxable year. The application of this Section to
20 taxable years of less than 12 months shall be in accordance
21 with regulations prescribed by the Department.
22     The changes in this Section made by Public Act 84-127 shall
23 apply to taxable years ending on or after January 1, 1986.
24 (Source: P.A. 90-448, eff. 8-16-97; 90-613, eff. 7-9-98.)
 
25     (35 ILCS 5/901)  (from Ch. 120, par. 9-901)
26     Sec. 901. Collection Authority.
27     (a) In general.
28     The Department shall collect the taxes imposed by this Act.
29 The Department shall collect certified past due child support
30 amounts under Section 2505-650 of the Department of Revenue Law
31 (20 ILCS 2505/2505-650). Except as provided in subsections (c)
32 and (e) of this Section, money collected pursuant to
33 subsections (a) and (b) of Section 201 of this Act shall be
34 paid into the General Revenue Fund in the State treasury; money
35 collected pursuant to subsections (c) and (d) of Section 201 of

 

 

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1 this Act shall be paid into the Personal Property Tax
2 Replacement Fund, a special fund in the State Treasury; and
3 money collected under Section 2505-650 of the Department of
4 Revenue Law (20 ILCS 2505/2505-650) shall be paid into the
5 Child Support Enforcement Trust Fund, a special fund outside
6 the State Treasury, or to the State Disbursement Unit
7 established under Section 10-26 of the Illinois Public Aid
8 Code, as directed by the Department of Public Aid.
9     (b) Local Governmental Distributive Fund.
10     Beginning August 1, 1969, and continuing through June 30,
11 1994, the Treasurer shall transfer each month from the General
12 Revenue Fund to a special fund in the State treasury, to be
13 known as the "Local Government Distributive Fund", an amount
14 equal to 1/12 of the net revenue realized from the tax imposed
15 by subsections (a) and (b) of Section 201 of this Act during
16 the preceding month. Beginning July 1, 1994, and continuing
17 through June 30, 1995, the Treasurer shall transfer each month
18 from the General Revenue Fund to the Local Government
19 Distributive Fund an amount equal to 1/11 of the net revenue
20 realized from the tax imposed by subsections (a) and (b) of
21 Section 201 of this Act during the preceding month. Beginning
22 July 1, 1995, the Treasurer shall transfer each month from the
23 General Revenue Fund to the Local Government Distributive Fund
24 an amount equal to the net of (i) 1/10 of the net revenue
25 realized from the tax imposed by subsections (a) and (b) of
26 Section 201 of the Illinois Income Tax Act during the preceding
27 month (ii) minus, beginning July 1, 2003 and ending June 30,
28 2004, $6,666,666, and beginning July 1, 2004, zero. Net revenue
29 realized for a month shall be defined as the revenue from the
30 tax imposed by subsections (a) and (b) of Section 201 of this
31 Act which is deposited in the General Revenue Fund, the
32 Educational Assistance Fund and the Income Tax Surcharge Local
33 Government Distributive Fund during the month (but not
34 including revenue attributable to the increase in tax rates
35 imposed under this Amendatory Act of the 93rd General Assembly)
36 minus the amount paid out of the General Revenue Fund in State

 

 

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1 warrants during that same month as refunds to taxpayers for
2 overpayment of liability under the tax imposed by subsections
3 (a) and (b) of Section 201 of this Act.
4     (c) Deposits Into Income Tax Refund Fund.
5         (1) Beginning on January 1, 1989 and thereafter, the
6     Department shall deposit a percentage of the amounts
7     collected pursuant to subsections (a) and (b)(1), (2), and
8     (3), (4), and (5) of Section 201 of this Act into a fund in
9     the State treasury known as the Income Tax Refund Fund. The
10     Department shall deposit 6% of such amounts during the
11     period beginning January 1, 1989 and ending on June 30,
12     1989. Beginning with State fiscal year 1990 and for each
13     fiscal year thereafter, the percentage deposited into the
14     Income Tax Refund Fund during a fiscal year shall be the
15     Annual Percentage. For fiscal years 1999 through 2001, the
16     Annual Percentage shall be 7.1%. For fiscal year 2003, the
17     Annual Percentage shall be 8%. For fiscal year 2004, the
18     Annual Percentage shall be 11.7%. For all other fiscal
19     years, the Annual Percentage shall be calculated as a
20     fraction, the numerator of which shall be the amount of
21     refunds approved for payment by the Department during the
22     preceding fiscal year as a result of overpayment of tax
23     liability under subsections (a) and (b)(1), (2), and (3),
24     (4), and (5) of Section 201 of this Act plus the amount of
25     such refunds remaining approved but unpaid at the end of
26     the preceding fiscal year, minus the amounts transferred
27     into the Income Tax Refund Fund from the Tobacco Settlement
28     Recovery Fund, and the denominator of which shall be the
29     amounts which will be collected pursuant to subsections (a)
30     and (b)(1), (2), and (3), (4), and (5) of Section 201 of
31     this Act during the preceding fiscal year; except that in
32     State fiscal year 2002, the Annual Percentage shall in no
33     event exceed 7.6%. The Director of Revenue shall certify
34     the Annual Percentage to the Comptroller on the last
35     business day of the fiscal year immediately preceding the
36     fiscal year for which it is to be effective.

 

 

HB7031 - 33 - LRB093 16600 SJM 42249 b

1         (2) Beginning on January 1, 1989 and thereafter, the
2     Department shall deposit a percentage of the amounts
3     collected pursuant to subsections (a) and (b)(6), (7), and
4     (8), (9), and (10), (c) and (d) of Section 201 of this Act
5     into a fund in the State treasury known as the Income Tax
6     Refund Fund. The Department shall deposit 18% of such
7     amounts during the period beginning January 1, 1989 and
8     ending on June 30, 1989. Beginning with State fiscal year
9     1990 and for each fiscal year thereafter, the percentage
10     deposited into the Income Tax Refund Fund during a fiscal
11     year shall be the Annual Percentage. For fiscal years 1999,
12     2000, and 2001, the Annual Percentage shall be 19%. For
13     fiscal year 2003, the Annual Percentage shall be 27%. For
14     fiscal year 2004, the Annual Percentage shall be 32%. For
15     all other fiscal years, the Annual Percentage shall be
16     calculated as a fraction, the numerator of which shall be
17     the amount of refunds approved for payment by the
18     Department during the preceding fiscal year as a result of
19     overpayment of tax liability under subsections (a) and
20     (b)(6), (7), and (8), (9), and (10), (c) and (d) of Section
21     201 of this Act plus the amount of such refunds remaining
22     approved but unpaid at the end of the preceding fiscal
23     year, and the denominator of which shall be the amounts
24     which will be collected pursuant to subsections (a) and
25     (b)(6), (7), and (8), (9), and (10), (c) and (d) of Section
26     201 of this Act during the preceding fiscal year; except
27     that in State fiscal year 2002, the Annual Percentage shall
28     in no event exceed 23%. The Director of Revenue shall
29     certify the Annual Percentage to the Comptroller on the
30     last business day of the fiscal year immediately preceding
31     the fiscal year for which it is to be effective.
32         (3) The Comptroller shall order transferred and the
33     Treasurer shall transfer from the Tobacco Settlement
34     Recovery Fund to the Income Tax Refund Fund (i) $35,000,000
35     in January, 2001, (ii) $35,000,000 in January, 2002, and
36     (iii) $35,000,000 in January, 2003.

 

 

HB7031 - 34 - LRB093 16600 SJM 42249 b

1     (d) Expenditures from Income Tax Refund Fund.
2         (1) Beginning January 1, 1989, money in the Income Tax
3     Refund Fund shall be expended exclusively for the purpose
4     of paying refunds resulting from overpayment of tax
5     liability under Section 201 of this Act, for paying rebates
6     under Section 208.1 in the event that the amounts in the
7     Homeowners' Tax Relief Fund are insufficient for that
8     purpose, and for making transfers pursuant to this
9     subsection (d).
10         (2) The Director shall order payment of refunds
11     resulting from overpayment of tax liability under Section
12     201 of this Act from the Income Tax Refund Fund only to the
13     extent that amounts collected pursuant to Section 201 of
14     this Act and transfers pursuant to this subsection (d) and
15     item (3) of subsection (c) have been deposited and retained
16     in the Fund.
17         (3) As soon as possible after the end of each fiscal
18     year, the Director shall order transferred and the State
19     Treasurer and State Comptroller shall transfer from the
20     Income Tax Refund Fund to the Personal Property Tax
21     Replacement Fund an amount, certified by the Director to
22     the Comptroller, equal to the excess of the amount
23     collected pursuant to subsections (c) and (d) of Section
24     201 of this Act deposited into the Income Tax Refund Fund
25     during the fiscal year over the amount of refunds resulting
26     from overpayment of tax liability under subsections (c) and
27     (d) of Section 201 of this Act paid from the Income Tax
28     Refund Fund during the fiscal year.
29         (4) As soon as possible after the end of each fiscal
30     year, the Director shall order transferred and the State
31     Treasurer and State Comptroller shall transfer from the
32     Personal Property Tax Replacement Fund to the Income Tax
33     Refund Fund an amount, certified by the Director to the
34     Comptroller, equal to the excess of the amount of refunds
35     resulting from overpayment of tax liability under
36     subsections (c) and (d) of Section 201 of this Act paid

 

 

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1     from the Income Tax Refund Fund during the fiscal year over
2     the amount collected pursuant to subsections (c) and (d) of
3     Section 201 of this Act deposited into the Income Tax
4     Refund Fund during the fiscal year.
5         (4.5) As soon as possible after the end of fiscal year
6     1999 and of each fiscal year thereafter, the Director shall
7     order transferred and the State Treasurer and State
8     Comptroller shall transfer from the Income Tax Refund Fund
9     to the General Revenue Fund any surplus remaining in the
10     Income Tax Refund Fund as of the end of such fiscal year;
11     excluding for fiscal years 2000, 2001, and 2002 amounts
12     attributable to transfers under item (3) of subsection (c)
13     less refunds resulting from the earned income tax credit.
14         (5) This Act shall constitute an irrevocable and
15     continuing appropriation from the Income Tax Refund Fund
16     for the purpose of paying refunds upon the order of the
17     Director in accordance with the provisions of this Section.
18     (e) Deposits into the Education Assistance Fund and the
19 Income Tax Surcharge Local Government Distributive Fund.
20     On July 1, 1991, and thereafter, of the amounts collected
21 pursuant to subsections (a) and (b) of Section 201 of this Act,
22 minus deposits into the Income Tax Refund Fund, the Department
23 shall deposit 7.3% into the Education Assistance Fund in the
24 State Treasury. Beginning July 1, 1991, and continuing through
25 January 31, 1993, of the amounts collected pursuant to
26 subsections (a) and (b) of Section 201 of the Illinois Income
27 Tax Act, minus deposits into the Income Tax Refund Fund, the
28 Department shall deposit 3.0% into the Income Tax Surcharge
29 Local Government Distributive Fund in the State Treasury.
30 Beginning February 1, 1993 and continuing through June 30,
31 1993, of the amounts collected pursuant to subsections (a) and
32 (b) of Section 201 of the Illinois Income Tax Act, minus
33 deposits into the Income Tax Refund Fund, the Department shall
34 deposit 4.4% into the Income Tax Surcharge Local Government
35 Distributive Fund in the State Treasury. Beginning July 1,
36 1993, and continuing through June 30, 1994, of the amounts

 

 

HB7031 - 36 - LRB093 16600 SJM 42249 b

1 collected under subsections (a) and (b) of Section 201 of this
2 Act, minus deposits into the Income Tax Refund Fund, the
3 Department shall deposit 1.475% into the Income Tax Surcharge
4 Local Government Distributive Fund in the State Treasury.
5     (f) Deposits into the School District Property Tax Relief
6 Fund and Common School Fund. Of the amounts collected pursuant
7 to subsections (a), (b)(4)(ii), (b)(5), (b)(9)(ii), and
8 (b)(10) of Section 201 of this Act, minus deposits into the
9 Income Tax Refund Fund, the Department shall deposit two-thirds
10 of the increase in revenue attributable to the increase in tax
11 rates imposed under this amendatory Act of the 93rd General
12 Assembly into the School District Property Tax Relief Fund and
13 one-third of the increase in revenue attributable to the
14 increase in tax rates imposed under this amendatory Act of the
15 93rd General Assembly into the Common School Fund.
16 (Source: P.A. 92-11, eff. 6-11-01; 92-16, eff. 6-28-01; 92-600,
17 eff. 6-28-02; 93-32, eff. 6-20-03.)
 
18     Section 15-15.The Property Tax Code is amended by changing
19 Sections 18-255, 20-15, and 21-30 and by adding Section 18-178
20 as follows:
 
21     (35 ILCS 200/18-178 new)
22     Sec. 18-178. Educational purposes tax abatement. Beginning
23 with taxes levied for 2004 (payable in 2005), the county clerk
24 must determine the final extension for educational purposes for
25 all taxable property in a school district located in the county
26 or for the taxable property of that part of a school district
27 located in the county, taking into account the maximum rate,
28 levy, and extension authorized under the Property Tax Extension
29 Limitation Law, the Truth in Taxation Law, and any other
30 statute. The county clerk must then abate the extension for
31 educational purposes for each school district or part of a
32 school district in the county in the amount of the school
33 district property tax relief grant certified to the county
34 clerk for that school district or part of a school district by

 

 

HB7031 - 37 - LRB093 16600 SJM 42249 b

1 the Department of Revenue under Section 6z-61 of the State
2 Finance Act. When the final extension for educational purposes
3 has been determined and abated, the county clerk must notify
4 the Department of Revenue.
5     The county clerk must determine the reduced amount of the
6 tax for educational purposes to be billed by the county
7 collector and paid by each taxpayer in a given school district
8 by re-calculating the tax rate for educational purposes for
9 that school district based on the reduced extension amount
10 after abatement. This reduced extension amount shall be used
11 only for determining the amount of the tax bill. The extension
12 amount for educational purposes as originally calculated
13 before abatement is the official final extension for
14 educational purposes and must be used for all other purposes,
15 including determining the maximum rate, levy, and extension
16 authorized under the Property Tax Extension Limitation Law, the
17 Truth in Taxation Law, and any other statute and the maximum
18 amount of tax anticipation warrants under Section 17-16 of the
19 School Code.
 
20     (35 ILCS 200/18-255)
21     Sec. 18-255. Abstract of assessments and extensions. When
22 the collector's books are completed, the county clerk shall
23 make a complete statement of the assessment and extensions, in
24 conformity to the instructions of the Department. The clerk
25 shall certify the statement to the Department. Beginning with
26 the 2004 levy year, the Department shall require the statement
27 to include a separate listing of the extensions subject to
28 abatement under Section 18-178.
29 (Source: Laws 1943, vol. 1, p. 1136; P.A. 88-455.)
 
30     (35 ILCS 200/20-15)
31     Sec. 20-15. Information on bill or separate statement. The
32 amount of tax due and rates shown on the tax bill pursuant to
33 this Section shall be net of any abatement under Section
34 18-178. There shall be printed on each bill, or on a separate

 

 

HB7031 - 38 - LRB093 16600 SJM 42249 b

1 slip which shall be mailed with the bill:
2         (a) a statement itemizing the rate at which taxes have
3     been extended for each of the taxing districts in the
4     county in whose district the property is located, and in
5     those counties utilizing electronic data processing
6     equipment the dollar amount of tax due from the person
7     assessed allocable to each of those taxing districts,
8     including a separate statement of the dollar amount of tax
9     due which is allocable to a tax levied under the Illinois
10     Local Library Act or to any other tax levied by a
11     municipality or township for public library purposes,
12         (b) a separate statement for each of the taxing
13     districts of the dollar amount of tax due which is
14     allocable to a tax levied under the Illinois Pension Code
15     or to any other tax levied by a municipality or township
16     for public pension or retirement purposes,
17         (c) the total tax rate,
18         (d) the total amount of tax due, and
19         (e) the amount by which the total tax and the tax
20     allocable to each taxing district differs from the
21     taxpayer's last prior tax bill, and
22         (f) the amount of tax abated under Section 18-178
23     labeled "Your School Tax Refund".
24     The county treasurer shall ensure that only those taxing
25 districts in which a parcel of property is located shall be
26 listed on the bill for that property.
27     In all counties the statement shall also provide:
28         (1) the property index number or other suitable
29     description,
30         (2) the assessment of the property,
31         (3) the equalization factors imposed by the county and
32     by the Department, and
33         (4) the equalized assessment resulting from the
34     application of the equalization factors to the basic
35     assessment.
36     In all counties which do not classify property for purposes

 

 

HB7031 - 39 - LRB093 16600 SJM 42249 b

1 of taxation, for property on which a single family residence is
2 situated the statement shall also include a statement to
3 reflect the fair cash value determined for the property. In all
4 counties which classify property for purposes of taxation in
5 accordance with Section 4 of Article IX of the Illinois
6 Constitution, for parcels of residential property in the lowest
7 assessment classification the statement shall also include a
8 statement to reflect the fair cash value determined for the
9 property.
10     In all counties, the statement shall include information
11 that certain taxpayers may be eligible for the Senior Citizens
12 and Disabled Persons Property Tax Relief and Pharmaceutical
13 Assistance Act and that applications are available from the
14 Illinois Department of Revenue.
15     In counties which use the estimated or accelerated billing
16 methods, these statements shall only be provided with the final
17 installment of taxes due, except that the statement under item
18 (f) shall be included with both installments in those counties
19 under estimated or accelerated billing methods, the first
20 billing showing the amount deducted from the first installment,
21 and the final billing showing the total tax abated for the levy
22 year under Section 18-178. The provisions of this Section
23 create a mandatory statutory duty. They are not merely
24 directory or discretionary. The failure or neglect of the
25 collector to mail the bill, or the failure of the taxpayer to
26 receive the bill, shall not affect the validity of any tax, or
27 the liability for the payment of any tax.
28 (Source: P.A. 91-699, eff. 1-1-01.)
 
29     (35 ILCS 200/21-30)
30     Sec. 21-30. Accelerated billing. Except as provided in this
31 Section, Section 9-260, and Section 21-40, in counties with
32 3,000,000 or more inhabitants, by January 31 annually,
33 estimated tax bills setting out the first installment of
34 property taxes for the preceding year, payable in that year,
35 shall be prepared and mailed. The first installment of taxes on

 

 

HB7031 - 40 - LRB093 16600 SJM 42249 b

1 the estimated tax bills shall be computed at 50% of the total
2 of each tax bill before the abatement of taxes under Section
3 18-178 for the preceding year, less an estimate of one half of
4 the school district property tax relief grant for the current
5 year determined based on information provided by the Department
6 of Revenue and any other information available. If, prior to
7 the preparation of the estimated tax bills, a certificate of
8 error has been either approved by a court on or before November
9 30 of the preceding year or certified pursuant to Section 14-15
10 on or before November 30 of the preceding year, then the first
11 installment of taxes on the estimated tax bills shall be
12 computed at 50% of the total taxes before the abatement of
13 taxes under Section 18-178 for the preceding year as corrected
14 by the certificate of error, less an estimate of one half of
15 the school district property tax relief grant for the current
16 year determined based on information provided by the Department
17 of Revenue and any other information available. By June 30
18 annually, actual tax bills shall be prepared and mailed. These
19 bills shall set out total taxes due and the amount of estimated
20 taxes billed in the first installment, and shall state the
21 balance of taxes due for that year as represented by the sum
22 derived from subtracting the amount of the first installment
23 from the total taxes due for that year.
24     The county board may provide by ordinance, in counties with
25 3,000,000 or more inhabitants, for taxes to be paid in 4
26 installments. For the levy year for which the ordinance is
27 first effective and each subsequent year, estimated tax bills
28 setting out the first, second, and third installment of taxes
29 for the preceding year, payable in that year, shall be prepared
30 and mailed not later than the date specified by ordinance. Each
31 installment on estimated tax bills shall be computed at 25% of
32 the total of each tax bill for the preceding year. By the date
33 specified in the ordinance, actual tax bills shall be prepared
34 and mailed. These bills shall set out total taxes due and the
35 amount of estimated taxes billed in the first, second, and
36 third installments and shall state the balance of taxes due for

 

 

HB7031 - 41 - LRB093 16600 SJM 42249 b

1 that year as represented by the sum derived from subtracting
2 the amount of the estimated installments from the total taxes
3 due for that year.
4     The county board of any county with less than 3,000,000
5 inhabitants may, by ordinance or resolution, adopt an
6 accelerated method of tax billing. The county board may
7 subsequently rescind the ordinance or resolution and revert to
8 the method otherwise provided for in this Code.
9     Taxes levied on homestead property in which a member of the
10 National Guard or reserves of the armed forces of the United
11 States who was called to active duty on or after August 1,
12 1990, and who has an ownership interest shall not be deemed
13 delinquent and no interest shall accrue or be charged as a
14 penalty on such taxes due and payable in 1991 or 1992 until one
15 year after that member returns to civilian status.
16 (Source: P.A. 92-475, eff. 8-23-01; 93-560, eff. 8-20-03.)
 
17
ARTICLE 99

 
18
19     Section 99-99. Effective date. This Act takes effect July
20 1, 2004.