Bill Status of HB 4461   98th General Assembly

Short Description:  INC TX-LGDF IF RATE REDUCED

House Sponsors
Rep. John M. Cabello-Robert W. Pritchard

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession 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
  1/29/2014HouseFiled with the Clerk by Rep. John M. Cabello
  2/3/2014HouseFirst Reading
  2/3/2014HouseReferred to Rules Committee
  2/5/2014HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard
  12/3/2014HouseSession Sine Die

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