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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB2914 Introduced 2/23/2011, by Rep. Jil Tracy SYNOPSIS AS INTRODUCED:
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Amends the Illinois Income Tax Act. Provides that, if the taxpayer requests and is owed a refund as a result of an overpayment of any tax due under this Act, and if the refund is not paid within 180 days after the return is filed, then the taxpayer may request that the amount of the unpaid refund be applied to the taxpayer's liability in any future tax year. The taxpayer shall not be required to pay penalties or interest on the portion of the future tax liability paid with the refunded amounts. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB2914 | | LRB097 06693 HLH 46780 b |
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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 5. The Illinois Income Tax Act is amended by adding |
| 5 | | Section 607 as follows:
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| 6 | | (35 ILCS 5/607 new) |
| 7 | | Sec. 607. Refunds for overpayment. Notwithstanding any |
| 8 | | other provision of law, if the taxpayer requests and is owed a |
| 9 | | refund as a result of an overpayment of any tax due under this |
| 10 | | Act, and if the refund is not paid within 180 days after the |
| 11 | | return is filed, then the taxpayer may request that the amount |
| 12 | | of the unpaid refund be applied to the taxpayer's liability in |
| 13 | | any future tax year. The taxpayer shall not be required to pay |
| 14 | | penalties or interest on the portion of the future tax |
| 15 | | liability paid with the refunded amounts.
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| 16 | | Section 99. Effective date. This Act takes effect upon |
| 17 | | becoming law.
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