Bill Status of HB 5097   97th General Assembly

Short Description:  INC TX-LGDF IF RATE REDUCED

House Sponsors
Rep. Sidney H. Mathias

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/901from Ch. 120, par. 9-901

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, if the rate of tax is reduced because the State has exceeded the State spending limit, then, beginning with the first distribution to occur after the effective date of the reduction, the State Comptroller shall order transferred and the State Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 1/10 of the net revenue realized under Act during the preceding month. Effective immediately.

Actions 
DateChamber Action
  2/7/2012HouseFiled with the Clerk by Rep. Sidney H. Mathias
  2/7/2012HouseFirst Reading
  2/7/2012HouseReferred to Rules Committee
  1/8/2013HouseSession Sine Die

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