Illinois General Assembly - Bill Status for HB0867
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 Bill Status of HB0867  93rd General Assembly

Short Description:  INCOME TAXES-TECH

House Sponsors
Rep. Barbara Flynn Currie - Robert S. Molaro - Mike Bost

Senate Sponsors
(Sen. Terry Link)

Last Action
DateChamber Action
  3/31/2005HousePublic Act . . . . . . . . . 93-1099

Statutes Amended In Order of Appearance
35 ILCS 5/302from Ch. 120, par. 3-302


Synopsis As Introduced
Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning income allocation.

Senate Floor Amendment No. 2
Deletes reference to:
35 ILCS 5/302
Adds reference to:
35 ILCS 200/31-5
35 ILCS 200/31-10
35 ILCS 200/31-20
35 ILCS 820/3
55 ILCS 5/5-1031from Ch. 34, par. 5-1031

Deletes everything after the enacting clause. Amends the Property Tax Code. In an Article concerning the real estate transfer tax, provides that the term "value" includes the full actual consideration for the beneficial interest in real property located in Illinois, and beginning June 1, 2005, the term "trust document" includes any document relating to the transfer of a taxable beneficial interest. Provides that the Department of Revenue may prescribe a form to evidence the payment of the tax if a transferring document is not presented for recordation within 3 business days after the transfer is effected. Amends the Stock, Commodity, or Options Transaction Tax Exemption Act to provide that the Act shall not be construed as prohibiting or otherwise invalidating any real estate transfer tax authorized or permitted by a certain Section of the Counties Code. Amends the Counties Code. In a Section concerning a county real estate transfer tax, provides that the county board may impose a tax at the same rate on the transfer of beneficial interests in real property, as defined in the Property Tax Code. Sets forth requirements for imposing and collecting the tax. Effective June 1, 2005.

Actions 
DateChamber Action
  1/31/2003HouseFiled with the Clerk by Rep. Michael J. Madigan
  1/31/2003HouseChief Co-Sponsor Rep. Barbara Flynn Currie
  1/31/2003HouseChief Co-Sponsor Rep. Robert S. Molaro
  1/31/2003HouseFirst Reading
  1/31/2003HouseReferred to Rules Committee
  1/31/2003HouseRemoved Chief Co-Sponsor Rep. Barbara Flynn Currie
  2/4/2003HouseAssigned to Executive Committee
  3/12/2003HouseDo Pass / Short Debate Executive Committee; 010-000-000
  3/12/2003HousePlaced on Calendar 2nd Reading - Short Debate **
  3/31/2003HouseSecond Reading - Short Debate
  3/31/2003HouseHeld on Calendar Order of Second Reading - Short Debate **
  4/2/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate **
  4/3/2003HouseThird Reading - Short Debate - Passed 070-043-004
  4/8/2003SenateArrive in Senate
  4/8/2003SenatePlaced on Calendar Order of First Reading April 9, 2003
  4/8/2003SenateChief Senate Sponsor Sen. Emil Jones, Jr.
  4/8/2003SenateFirst Reading
  4/8/2003SenateReferred to Rules
  4/16/2003SenateAssigned to Executive
  5/1/2003SenateDo Pass Executive; 007-004-000
  5/1/2003SenatePlaced on Calendar Order of 2nd Reading May 6, 2003
  5/6/2003SenateSecond Reading
  5/6/2003SenatePlaced on Calendar Order of 3rd Reading May 7, 2003
  5/16/2003SenateThird Reading Deadline Extended - Rule 2-10, to December 31, 2003.
  7/1/2003SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  5/13/2004SenateThird Reading Deadline Extended - Rule 2-10, extended to January 11, 2005.
  5/17/2004SenateApproved for Consideration Rules
  5/17/2004SenatePlaced on Calendar Order of 3rd Reading May 18, 2004
  6/28/2004SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Terry Link
  6/28/2004SenateSenate Floor Amendment No. 1 Referred to Rules
  8/24/2004SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  8/24/2004SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  11/9/2004SenateApproved for Consideration Rules
  11/9/2004SenatePlaced on Calendar Order of 3rd Reading November 10, 2004
  11/10/2004SenateAlternate Chief Sponsor Changed to Sen. Terry Link
  11/12/2004SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Terry Link
  11/12/2004SenateSenate Floor Amendment No. 2 Referred to Rules
  11/16/2004SenateSenate Floor Amendment No. 2 Rules Refers to Revenue
  11/16/2004SenateSenate Floor Amendment No. 2 Be Adopted Revenue; 006-000-000
  11/17/2004SenateRecalled to Second Reading
  11/17/2004SenateSenate Floor Amendment No. 2 Adopted; Link
  11/17/2004SenatePlaced on Calendar Order of 3rd Reading
  11/17/2004SenateThird Reading - Passed; 038-020-000
  11/17/2004HouseArrived in House
  11/17/2004HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 2
  11/17/2004HouseAdded Chief Co-Sponsor Rep. Mike Bost
  12/10/2004HouseChief Sponsor Changed to Rep. Barbara Flynn Currie
  12/15/2004HouseFinal Action Deadline Extended-9(b) January 11, 2005
  12/15/2004HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 2
  12/15/2004HouseSenate Floor Amendment No. 2 Motion Filed Concur Rep. Barbara Flynn Currie
  12/15/2004HouseSenate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
  1/4/2005HouseSenate Floor Amendment No. 2 Motion to Concur Recommends be Adopted Rules Committee; 004-000-000
  1/10/2005HouseSenate Floor Amendment No. 2 House Concurs 061-054-001
  1/10/2005HousePassed Both Houses
  2/8/2005HouseSent to the Governor
  3/31/2005HouseGovernor Approved
  3/31/2005HouseEffective Date June 1, 2005
  3/31/2005HousePublic Act . . . . . . . . . 93-1099

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