Illinois General Assembly - Full Text of HB4250
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Full Text of HB4250  95th General Assembly

HB4250 95TH GENERAL ASSEMBLY


 


 
95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB4250

 

Introduced , by Rep. Ed Sullivan, Jr.

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/509   from Ch. 120, par. 5-509

    Amends the Illinois Income Tax Act. Requires the Department of Revenue to reinstate the explanations and spaces for the designation of contributions to the Prostate Cancer Research Fund on the individual income tax return forms. Provides that, upon reinstatement, the fund is subject to certain requirements concerning contribution amounts in order to remain on on the forms in subsequent years. Effective immediately.


LRB095 14275 BDD 40152 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB4250 LRB095 14275 BDD 40152 b

1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Income Tax Act is amended by
5 changing Section 509 as follows:
 
6     (35 ILCS 5/509)  (from Ch. 120, par. 5-509)
7     Sec. 509. Tax checkoff explanations.
8     (a) All individual income tax return forms shall contain
9 appropriate explanations and spaces to enable the taxpayers to
10 designate contributions to the funds to which contributions may
11 be made under this Article 5.
12     (b) Each form shall contain a statement that the
13 contributions will reduce the taxpayer's refund or increase the
14 amount of payment to accompany the return. Failure to remit any
15 amount of increased payment shall reduce the contribution
16 accordingly.
17     (c) If, on October 1 of any year, the total contributions
18 to any one of the funds made under this Article 5 do not equal
19 $100,000 or more, the explanations and spaces for designating
20 contributions to the fund shall be removed from the individual
21 income tax return forms for the following and all subsequent
22 years and all subsequent contributions to the fund shall be
23 refunded to the taxpayer.

 

 

HB4250 - 2 - LRB095 14275 BDD 40152 b

1     (d) As soon as practical, the Department shall reinstate
2 the explanations and spaces for the designation of
3 contributions to the following funds on the individual income
4 tax return forms:
5         (1) The Prostate Cancer Research Fund.
6 Upon reinstatement, the funds are subject to the requirements
7 of subsection (c).
8 (Source: P.A. 94-73, eff. 6-23-05; 94-107, eff. 7-1-05; 94-141,
9 eff. 1-1-06; 94-142, eff. 1-1-06; 94-442, eff. 8-4-05; 94-602,
10 eff. 8-16-05; 94-649, eff. 8-22-05; 94-876, eff. 6-19-06;
11 95-331, eff. 8-21-07; 95-434, eff. 8-27-07; 95-435, eff.
12 8-27-07.)
 
13     Section 99. Effective date. This Act takes effect upon
14 becoming law.