Illinois General Assembly - Bill Status for HB4062

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the following amounts shall be deposited into the Local Government Distributive Fund as the revenue is realized from the specified taxes: (i) 10% of the net revenue realized from the tax imposed under the Act upon individuals, trusts, and estates; (ii) 10% of the net revenue realized from the tax imposed by the Act upon electing pass-through entities; and (iii) 10% of the net revenue realized from the tax imposed by the Act upon corporations. Amends the State Revenue Sharing Act to provide that amounts paid into the Local Government Distributive Fund are appropriated on a continuing basis. Effective immediately.

Actions

Date	Chamber	Action
5/2/2023	House	Filed with the Clerk by Rep. Ryan Spain
5/2/2023	House	Added Chief Co-Sponsor Rep. Tony M. McCombie
5/2/2023	House	Added Chief Co-Sponsor Rep. Brad Stephens
5/2/2023	House	Added Chief Co-Sponsor Rep. Anthony DeLuca
5/2/2023	House	Added Chief Co-Sponsor Rep. John Egofske
5/2/2023	House	First Reading
5/2/2023	House	Referred to Rules Committee
5/10/2023	House	Added Co-Sponsor Rep. Jennifer Sanalitro

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