Bill Status of SB2206 103rd General Assembly
Short Description: INC TX-LGDF
Sen. Donald P. DeWitte - Seth Lewis, Patrick J. Joyce, Craig Wilcox, Dave Syverson, Suzy Glowiak Hilton, John F. Curran, Bill Cunningham, Dale Fowler, Cristina Castro and Linda Holmes
| 3/10/2023||Senate||Rule 3-9(a) / Re-referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that an amount equal to 10% of the net revenue realized from the State income tax during the preceding month shall be transferred from the General Revenue Fund to the Local Government Distributive Fund (currently, the amount transferred is equal to the sum of (i) 6.16% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, (ii) 6.85% of the net revenue realized from the tax imposed upon corporations, and (iii) 6.16% of the net revenue realized from the tax imposed upon electing pass-through entities). Effective immediately.