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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB4250
Introduced , by Rep. Ed Sullivan, Jr. SYNOPSIS AS INTRODUCED: |
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35 ILCS 5/509 |
from Ch. 120, par. 5-509 |
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Amends the Illinois Income Tax Act. Requires the Department of Revenue to reinstate the explanations and spaces for the designation of contributions to the Prostate Cancer Research Fund on the individual income tax return forms. Provides that, upon reinstatement, the fund is subject to certain requirements concerning contribution amounts in order to remain on on the forms in subsequent years. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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HB4250 |
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LRB095 14275 BDD 40152 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Income Tax Act is amended by |
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| changing Section 509 as follows:
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| (35 ILCS 5/509) (from Ch. 120, par. 5-509)
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| Sec. 509. Tax checkoff explanations. |
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| (a) All individual income tax return forms
shall contain |
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| appropriate explanations and spaces to enable the taxpayers to
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| designate contributions to the funds to which contributions may |
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| be made under this Article 5.
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| (b) Each form shall contain a statement that the |
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| contributions will reduce the
taxpayer's refund or increase the |
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| amount of payment to accompany the return.
Failure to remit any |
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| amount of increased payment shall reduce the contribution
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| accordingly.
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| (c) If, on October 1 of any year, the total contributions |
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| to any one of the
funds made under this Article 5 do not equal |
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| $100,000 or more, the explanations
and spaces for designating |
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| contributions to the fund shall be removed from the
individual |
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| income tax return forms for the following and all subsequent |
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| years
and all subsequent contributions to the fund shall be |
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| refunded to the taxpayer. |