Bill Status of HB 365   99th General Assembly

Short Description:  INC TX-LGDF

House Sponsors
Rep. Anthony DeLuca-Robert W. Pritchard-Carol Sente-Mike Fortner, Anna Moeller and Al Riley

Last Action  View All Actions

DateChamber Action
  1/10/2017HouseSession 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, from February 1, 2016 through January 31, 2017, the amount transferred from the General Revenue Fund to the Local Government Distributive Fund shall be: (i) 8.5% of the net revenue realized from the tax imposed on individuals, trusts, and estates, and (ii) 9.355% of the net revenue realized from the tax imposed on corporations. Provides that, from February 1, 2017 through January 31, 2018, the amount transferred from the General Revenue Fund to the Local Government Distributive Fund shall be: (i) 9% of the net revenue realized from the tax imposed on individuals, trusts, and estates, and (ii) 9.57% of the net revenue realized from the tax imposed on corporations. Provides that, from February 1, 2018 through January 31, 2019, the amount transferred from the General Revenue Fund to the Local Government Distributive Fund shall be: (i) 9.5% of the net revenue realized from the tax imposed on individuals, trusts, and estates, and (ii) 9.785% of the net revenue realized from the tax imposed on corporations. Provides that, beginning on February 1, 2019, 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 on individuals, trusts, estates, and corporations during the preceding month. Effective immediately.

Actions 
DateChamber Action
  1/28/2015HouseFiled with the Clerk by Rep. Anthony DeLuca
  1/28/2015HouseFirst Reading
  1/28/2015HouseReferred to Rules Committee
  2/6/2015HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard
  2/13/2015HouseAssigned to Revenue & Finance Committee
  2/20/2015HouseTo Income Tax Subcommittee
  2/25/2015HouseAdded Chief Co-Sponsor Rep. Carol Sente
  2/25/2015HouseAdded Chief Co-Sponsor Rep. Mike Fortner
  3/11/2015HouseAdded Co-Sponsor Rep. Anna Moeller
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  4/13/2015HouseCommittee Deadline Extended-Rule 9(b) April 30, 2015
  4/13/2015HouseAssigned to Revenue & Finance Committee
  4/14/2015HouseAdded Co-Sponsor Rep. Al Riley
  4/30/2015HouseRule 19(a) / Re-referred to Rules Committee
  3/23/2016HouseAssigned to Revenue & Finance Committee
  3/23/2016HouseTo Income Tax Subcommittee
  4/8/2016HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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