Bill Status of HB 3750   98th General Assembly


Short Description:  INC TX-LOCAL GOV DISTRIBUTIVE

House Sponsors
Rep. Anthony DeLuca-Carol A. Sente

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 115/1from Ch. 85, par. 611
35 ILCS 5/901from Ch. 120, par. 9-901

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, beginning on February 1, 2015, the Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 10% of the net revenue realized from the tax imposed under the Act during the preceding month (instead of: (i) beginning on February 1, 2015 and through January 31, 2025, an amount equal to the sum of 8% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 9.14% of the net revenue realized from the tax imposed on corporations; and (ii) beginning on February 1, 2025, an amount equal to the sum of 9.23% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 10% of the net revenue realized from the tax imposed on corporations).

Actions 
DateChamber Action
  11/7/2013HouseFiled with the Clerk by Rep. Anthony DeLuca
  11/7/2013HouseFirst Reading
  11/7/2013HouseReferred to Rules Committee
  3/26/2014HouseAdded Chief Co-Sponsor Rep. Carol A. Sente
  12/3/2014HouseSession Sine Die

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