Illinois General Assembly - Bill Status for HB4461

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Bill Status of HB4461 98th General Assembly

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Short Description: INC TX-LGDF IF RATE REDUCED

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

Last Action

Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/901

from 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

Date	Chamber	Action
1/29/2014	House	Filed with the Clerk by Rep. John M. Cabello
2/3/2014	House	First Reading
2/3/2014	House	Referred to Rules Committee
2/5/2014	House	Added Chief Co-Sponsor Rep. Robert W. Pritchard
12/3/2014	House	Session Sine Die

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