SB0359 94TH GENERAL ASSEMBLY

LRB094 07545 BDD 37713 b

94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB0359

Introduced 2/15/2005, by Sen. Chris Lauzen

SYNOPSIS AS INTRODUCED:

30 ILCS 105/5.640 new
30 ILCS 105/6z-68 new
35 ILCS 5/507EE new
35 ILCS 5/509	from Ch. 120, par. 5-509
35 ILCS 5/510	from Ch. 120, par. 5-510

Amends the State Finance Act. Creates the School District Income Tax Checkoff Fund. Provides that moneys received from the income tax checkoffs for school districts must be deposited into the Fund. Provides that, as soon as practical after an amount is deposited into the Fund from an income tax checkoff, the Department of Revenue must transfer that amount to the school district indicated on the taxpayer's income tax return. Amends the Illinois Income Tax Act to create the checkoff.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Finance Act is amended by adding Sections 5.640 and 6z-68 as follows:

(30 ILCS 105/5.640 new)

Sec. 5.640. The School District Income Tax Checkoff Fund.

(30 ILCS 105/6z-68 new)

Sec. 6z-68. The School District Income Tax Checkoff Fund.

(a) The School District Income Tax Checkoff Fund is created as a special fund in the State treasury. Moneys received from the income tax checkoffs for school districts under Section 507EE of the Illinois Income Tax Act must be deposited into the Fund.

(b) As soon as practical after an amount is deposited into the Fund from an income tax checkoff, the Department of Revenue must transfer that amount to the school district indicated on the taxpayer's income tax return. This transfer is not subject to appropriation.

Section 10. The Illinois Income Tax Act is amended by by changing Sections 509 and 510 and by adding Section 507EE as follows:

(35 ILCS 5/507EE new)

Sec. 507EE. School district checkoff. For taxable years ending on or after December 31, 2005, the Department must print on its standard individual income tax form a provision indicating that if the taxpayer wishes to contribute to a school district in the State, as authorized by this amendatory Act of the 94th General Assembly, he or she may do so by stating the school district and the amount of the contribution (not less than $1) on the return and that the contribution will reduce the taxpayer's refund or increase the amount of payment to accompany the return. Failure to remit any amount of increased payment shall reduce the contribution accordingly. This Section does not apply to any amended return.

(35 ILCS 5/509) (from Ch. 120, par. 5-509)

Sec. 509. Tax checkoff explanations. All individual income tax return forms shall contain appropriate explanations and spaces to enable the taxpayers to designate contributions to the following funds: the Child Abuse Prevention Fund, the Illinois Wildlife Preservation Fund (as required by the Illinois Non-Game Wildlife Protection Act), the Alzheimer's Disease Research Fund (as required by the Alzheimer's Disease Research Act), the Assistance to the Homeless Fund (as required by this Act), the Penny Severns Breast and Cervical Cancer Research Fund, the National World War II Memorial Fund, the Prostate Cancer Research Fund, the Lou Gehrig's Disease (ALS) Research Fund, the Multiple Sclerosis Assistance Fund, the Leukemia Treatment and Education Fund, the World War II Illinois Veterans Memorial Fund, the Korean War Veterans National Museum and Library Fund, the Illinois Military Family Relief Fund, the Illinois Veterans' Homes Fund, the School District Income Tax Checkoff Fund, and the Asthma and Lung Research Fund.

Each form shall contain a statement that the contributions will reduce the taxpayer's refund or increase the amount of payment to accompany the return. Failure to remit any amount of increased payment shall reduce the contribution accordingly.

If, on October 1 of any year, the total contributions to any one of the funds made under this Section do not equal $100,000 or more, the explanations and spaces for designating contributions to the fund shall be removed from the individual income tax return forms for the following and all subsequent years and all subsequent contributions to the fund shall be refunded to the taxpayer.

(Source: P.A. 92-84, eff. 7-1-02; 92-198, eff. 8-1-01; 92-651, eff. 7-11-02; 92-772, eff. 8-6-02; 92-886, eff. 2-7-03; 93-36, eff. 6-24-03; 93-131, eff. 7-10-03; 93-292, eff. 7-22-03; 93-324, eff. 7-23-03; 93-776, eff. 7-21-04.)

(35 ILCS 5/510) (from Ch. 120, par. 5-510)

Sec. 510. Determination of amounts contributed. The Department shall determine the total amount contributed to each of the following: the Child Abuse Prevention Fund, the Illinois Wildlife Preservation Fund, the Assistance to the Homeless Fund, the Alzheimer's Disease Research Fund, the Penny Severns Breast and Cervical Cancer Research Fund, the National World War II Memorial Fund, the Prostate Cancer Research Fund, the Illinois Military Family Relief Fund, the Lou Gehrig's Disease (ALS) Research Fund, the Multiple Sclerosis Assistance Fund, the Leukemia Treatment and Education Fund, the World War II Illinois Veterans Memorial Fund, the Korean War Veterans National Museum and Library Fund, the Illinois Veterans' Homes Fund, the School District Income Tax Checkoff Fund, and the Asthma and Lung Research Fund; and shall notify the State Comptroller and the State Treasurer of the amounts to be transferred from the General Revenue Fund to each fund, and upon receipt of such notification the State Treasurer and Comptroller shall transfer the amounts.

(Source: P.A. 92-84, eff. 7-1-02; 92-198, eff. 8-1-01; 92-651, eff. 7-11-02; 92-772, eff. 8-6-02; 92-886, eff. 2-7-03; 93-36, eff. 6-24-03; 93-131, eff. 7-10-03; 93-292, eff. 7-22-03; 93-324, eff. 7-23-03; 93-776, eff. 7-21-04.)