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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 3. The Illinois Income Tax Act is amended by | ||||||
5 | changing Section 404 as follows:
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6 | (35 ILCS 5/404) (from Ch. 120, par. 4-404)
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7 | Sec. 404. Reallocation of Items.
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8 | (a) If it appears to the Director that any agreement, | ||||||
9 | understanding or
arrangement exists between any persons which | ||||||
10 | causes any person's base
income allocable to this State to be | ||||||
11 | improperly or inaccurately reflected,
the Director may adjust | ||||||
12 | such items of income and deduction, and any factor
taken into | ||||||
13 | account in allocating income to this State, to such extent as
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14 | may reasonably be required to determine the base income of such | ||||||
15 | person
properly allocable to this State.
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16 | (b) The Director may not make an adjustment to base income | ||||||
17 | under this Section that has the same effect as retroactively | ||||||
18 | applying any amendments to this Act made by Public Act 93-0840, | ||||||
19 | Public Act 95-0233, or Public Act 95-0707. | ||||||
20 | (Source: P.A. 76-261.)
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21 | Section 5. The Property Tax Code is amended by changing | ||||||
22 | Section 20-210 as follows:
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1 | (35 ILCS 200/20-210)
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2 | Sec. 20-210. Taxes payable in installments; payment under | ||||||
3 | specification. Except as otherwise provided in Section 21-30, | ||||||
4 | current taxes shall be payable
in 2 equal installments. The | ||||||
5 | collector, when requested by the party paying the
taxes, shall | ||||||
6 | receive and receipt for the taxes in installments. The | ||||||
7 | collector shall
may receive taxes on part of any property | ||||||
8 | charged with taxes when
a
particular specification of the part | ||||||
9 | is furnished. If the tax on the remainder
of the property | ||||||
10 | remains unpaid, the collector shall enter that specification in
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11 | his or her return, so that the part on which the tax remains | ||||||
12 | unpaid may be
clearly known. The tax may be paid on an | ||||||
13 | undivided share of property. In that
case, the collector shall | ||||||
14 | designate on his or her record upon whose undivided
share the | ||||||
15 | tax has been paid.
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16 | (Source: P.A. 93-366, eff. 7-24-03.)
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17 | Section 99. Effective date. This Act takes effect upon | ||||||
18 | becoming law, except that the changes in Section 5 of the Act | ||||||
19 | take effect on January 1, 2009.
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