Full Text of SB3086 101st General Assembly
SB3086 101ST GENERAL ASSEMBLY |
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020 SB3086 Introduced 2/6/2020, by Sen. Steven M. Landek SYNOPSIS AS INTRODUCED: |
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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. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| 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 901 as follows:
| 6 | | (35 ILCS 5/901)
| 7 | | (Text of Section before amendment by P.A. 101-8 ) | 8 | | Sec. 901. Collection authority. | 9 | | (a) In general. The Department shall collect the taxes | 10 | | imposed by this Act. The Department
shall collect certified | 11 | | past due child support amounts under Section 2505-650
of the | 12 | | Department of Revenue Law of the
Civil Administrative Code of | 13 | | Illinois. Except as
provided in subsections (b), (c), (e), (f), | 14 | | (g), and (h) of this Section, money collected
pursuant to | 15 | | subsections (a) and (b) of Section 201 of this Act shall be
| 16 | | paid into the General Revenue Fund in the State treasury; money
| 17 | | collected pursuant to subsections (c) and (d) of Section 201 of | 18 | | this Act
shall be paid into the Personal Property Tax | 19 | | Replacement Fund, a special
fund in the State Treasury; and | 20 | | money collected under Section 2505-650 of the
Department of | 21 | | Revenue Law of the
Civil Administrative Code of Illinois shall | 22 | | be paid
into the
Child Support Enforcement Trust Fund, a | 23 | | special fund outside the State
Treasury, or
to the State
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| 1 | | Disbursement Unit established under Section 10-26 of the | 2 | | Illinois Public Aid
Code, as directed by the Department of | 3 | | Healthcare and Family Services. | 4 | | (b) Local Government Distributive Fund. Beginning August | 5 | | 1, 2017 and continuing through July 31, 2020 , the Treasurer | 6 | | shall transfer each month from the General Revenue Fund to the | 7 | | Local Government Distributive Fund an amount equal to the sum | 8 | | of (i) 6.06% (10% of the ratio of the 3% individual income tax | 9 | | rate prior to 2011 to the 4.95% individual income tax rate | 10 | | after July 1, 2017) of the net revenue realized from the tax | 11 | | imposed by subsections (a) and (b) of Section 201 of this Act | 12 | | upon individuals, trusts, and estates during the preceding | 13 | | month and (ii) 6.85% (10% of the ratio of the 4.8% corporate | 14 | | income tax rate prior to 2011 to the 7% corporate income tax | 15 | | rate after July 1, 2017) of the net revenue realized from the | 16 | | tax imposed by subsections (a) and (b) of Section 201 of this | 17 | | Act upon corporations during the preceding month. Beginning | 18 | | August 1, 2020, the Treasurer shall transfer each
month from | 19 | | the General Revenue Fund to the Local Government Distributive | 20 | | Fund
an amount equal to 10% of the net revenue realized from | 21 | | the
tax imposed by
subsections (a) and (b) of Section 201 of | 22 | | the Illinois Income Tax Act during the preceding month. Net | 23 | | revenue realized for a month shall be defined as the
revenue | 24 | | from the tax imposed by subsections (a) and (b) of Section 201 | 25 | | of this
Act which is deposited in the General Revenue Fund, the | 26 | | Education Assistance
Fund, the Income Tax Surcharge Local |
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| 1 | | Government Distributive Fund, the Fund for the Advancement of | 2 | | Education, and the Commitment to Human Services Fund during the
| 3 | | month minus the amount paid out of the General Revenue Fund in | 4 | | State warrants
during that same month as refunds to taxpayers | 5 | | for overpayment of liability
under the tax imposed by | 6 | | subsections (a) and (b) of Section 201 of this Act. | 7 | | Notwithstanding any provision of law to the contrary, | 8 | | beginning on July 6, 2017 (the effective date of Public Act | 9 | | 100-23), those amounts required under this subsection (b) to be | 10 | | transferred by the Treasurer into the Local Government | 11 | | Distributive Fund from the General Revenue Fund shall be | 12 | | directly deposited into the Local Government Distributive Fund | 13 | | as the revenue is realized from the tax imposed by subsections | 14 | | (a) and (b) of Section 201 of this Act. | 15 | | For State fiscal year 2020 only, notwithstanding any | 16 | | provision of law to the contrary, the total amount of revenue | 17 | | and deposits under this Section attributable to revenues | 18 | | realized during State fiscal year 2020 shall be reduced by 5%. | 19 | | (c) Deposits Into Income Tax Refund Fund. | 20 | | (1) Beginning on January 1, 1989 and thereafter, the | 21 | | Department shall
deposit a percentage of the amounts | 22 | | collected pursuant to subsections (a)
and (b)(1), (2), and | 23 | | (3) of Section 201 of this Act into a fund in the State
| 24 | | treasury known as the Income Tax Refund Fund. Beginning | 25 | | with State fiscal year 1990 and for each fiscal year
| 26 | | thereafter, the percentage deposited into the Income Tax |
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| 1 | | Refund Fund during a
fiscal year shall be the Annual | 2 | | Percentage. For fiscal year 2011, the Annual Percentage | 3 | | shall be 8.75%. For fiscal year 2012, the Annual Percentage | 4 | | shall be 8.75%. For fiscal year 2013, the Annual Percentage | 5 | | shall be 9.75%. For fiscal year 2014, the Annual Percentage | 6 | | shall be 9.5%. For fiscal year 2015, the Annual Percentage | 7 | | shall be 10%. For fiscal year 2018, the Annual Percentage | 8 | | shall be 9.8%. For fiscal year 2019, the Annual Percentage | 9 | | shall be 9.7%. For fiscal year 2020, the Annual Percentage | 10 | | shall be 9.5%. For all other
fiscal years, the
Annual | 11 | | Percentage shall be calculated as a fraction, the numerator | 12 | | of which
shall be the amount of refunds approved for | 13 | | payment by the Department during
the preceding fiscal year | 14 | | as a result of overpayment of tax liability under
| 15 | | subsections (a) and (b)(1), (2), and (3) of Section 201 of | 16 | | this Act plus the
amount of such refunds remaining approved | 17 | | but unpaid at the end of the
preceding fiscal year, minus | 18 | | the amounts transferred into the Income Tax
Refund Fund | 19 | | from the Tobacco Settlement Recovery Fund, and
the | 20 | | denominator of which shall be the amounts which will be | 21 | | collected pursuant
to subsections (a) and (b)(1), (2), and | 22 | | (3) of Section 201 of this Act during
the preceding fiscal | 23 | | year; except that in State fiscal year 2002, the Annual
| 24 | | Percentage shall in no event exceed 7.6%. The Director of | 25 | | Revenue shall
certify the Annual Percentage to the | 26 | | Comptroller on the last business day of
the fiscal year |
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| 1 | | immediately preceding the fiscal year for which it is to be
| 2 | | effective. | 3 | | (2) Beginning on January 1, 1989 and thereafter, the | 4 | | Department shall
deposit a percentage of the amounts | 5 | | collected pursuant to subsections (a)
and (b)(6), (7), and | 6 | | (8), (c) and (d) of Section 201
of this Act into a fund in | 7 | | the State treasury known as the Income Tax
Refund Fund. | 8 | | Beginning
with State fiscal year 1990 and for each fiscal | 9 | | year thereafter, the
percentage deposited into the Income | 10 | | Tax Refund Fund during a fiscal year
shall be the Annual | 11 | | Percentage. For fiscal year 2011, the Annual Percentage | 12 | | shall be 17.5%. For fiscal year 2012, the Annual Percentage | 13 | | shall be 17.5%. For fiscal year 2013, the Annual Percentage | 14 | | shall be 14%. For fiscal year 2014, the Annual Percentage | 15 | | shall be 13.4%. For fiscal year 2015, the Annual Percentage | 16 | | shall be 14%. For fiscal year 2018, the Annual Percentage | 17 | | shall be 17.5%. For fiscal year 2019, the Annual Percentage | 18 | | shall be 15.5%. For fiscal year 2020, the Annual Percentage | 19 | | shall be 14.25%. For all other fiscal years, the Annual
| 20 | | Percentage shall be calculated
as a fraction, the numerator | 21 | | of which shall be the amount of refunds
approved for | 22 | | payment by the Department during the preceding fiscal year | 23 | | as
a result of overpayment of tax liability under | 24 | | subsections (a) and (b)(6),
(7), and (8), (c) and (d) of | 25 | | Section 201 of this Act plus the
amount of such refunds | 26 | | remaining approved but unpaid at the end of the
preceding |
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| 1 | | fiscal year, and the denominator of
which shall be the | 2 | | amounts which will be collected pursuant to subsections (a)
| 3 | | and (b)(6), (7), and (8), (c) and (d) of Section 201 of | 4 | | this Act during the
preceding fiscal year; except that in | 5 | | State fiscal year 2002, the Annual
Percentage shall in no | 6 | | event exceed 23%. The Director of Revenue shall
certify the | 7 | | Annual Percentage to the Comptroller on the last business | 8 | | day of
the fiscal year immediately preceding the fiscal | 9 | | year for which it is to be
effective. | 10 | | (3) The Comptroller shall order transferred and the | 11 | | Treasurer shall
transfer from the Tobacco Settlement | 12 | | Recovery Fund to the Income Tax Refund
Fund (i) $35,000,000 | 13 | | in January, 2001, (ii) $35,000,000 in January, 2002, and
| 14 | | (iii) $35,000,000 in January, 2003. | 15 | | (d) Expenditures from Income Tax Refund Fund. | 16 | | (1) Beginning January 1, 1989, money in the Income Tax | 17 | | Refund Fund
shall be expended exclusively for the purpose | 18 | | of paying refunds resulting
from overpayment of tax | 19 | | liability under Section 201 of this Act
and for
making | 20 | | transfers pursuant to this subsection (d). | 21 | | (2) The Director shall order payment of refunds | 22 | | resulting from
overpayment of tax liability under Section | 23 | | 201 of this Act from the
Income Tax Refund Fund only to the | 24 | | extent that amounts collected pursuant
to Section 201 of | 25 | | this Act and transfers pursuant to this subsection (d)
and | 26 | | item (3) of subsection (c) have been deposited and retained |
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| 1 | | in the
Fund. | 2 | | (3) As soon as possible after the end of each fiscal | 3 | | year, the Director
shall
order transferred and the State | 4 | | Treasurer and State Comptroller shall
transfer from the | 5 | | Income Tax Refund Fund to the Personal Property Tax
| 6 | | Replacement Fund an amount, certified by the Director to | 7 | | the Comptroller,
equal to the excess of the amount | 8 | | collected pursuant to subsections (c) and
(d) of Section | 9 | | 201 of this Act deposited into the Income Tax Refund Fund
| 10 | | during the fiscal year over the amount of refunds resulting | 11 | | from
overpayment of tax liability under subsections (c) and | 12 | | (d) of Section 201
of this Act paid from the Income Tax | 13 | | Refund Fund during the fiscal year. | 14 | | (4) As soon as possible after the end of each fiscal | 15 | | year, the Director shall
order transferred and the State | 16 | | Treasurer and State Comptroller shall
transfer from the | 17 | | Personal Property Tax Replacement Fund to the Income Tax
| 18 | | Refund Fund an amount, certified by the Director to the | 19 | | Comptroller, equal
to the excess of the amount of refunds | 20 | | resulting from overpayment of tax
liability under | 21 | | subsections (c) and (d) of Section 201 of this Act paid
| 22 | | from the Income Tax Refund Fund during the fiscal year over | 23 | | the amount
collected pursuant to subsections (c) and (d) of | 24 | | Section 201 of this Act
deposited into the Income Tax | 25 | | Refund Fund during the fiscal year. | 26 | | (4.5) As soon as possible after the end of fiscal year |
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| 1 | | 1999 and of each
fiscal year
thereafter, the Director shall | 2 | | order transferred and the State Treasurer and
State | 3 | | Comptroller shall transfer from the Income Tax Refund Fund | 4 | | to the General
Revenue Fund any surplus remaining in the | 5 | | Income Tax Refund Fund as of the end
of such fiscal year; | 6 | | excluding for fiscal years 2000, 2001, and 2002
amounts | 7 | | attributable to transfers under item (3) of subsection (c) | 8 | | less refunds
resulting from the earned income tax credit. | 9 | | (5) This Act shall constitute an irrevocable and | 10 | | continuing
appropriation from the Income Tax Refund Fund | 11 | | for the purpose of paying
refunds upon the order of the | 12 | | Director in accordance with the provisions of
this Section. | 13 | | (e) Deposits into the Education Assistance Fund and the | 14 | | Income Tax
Surcharge Local Government Distributive Fund. On | 15 | | July 1, 1991, and thereafter, of the amounts collected pursuant | 16 | | to
subsections (a) and (b) of Section 201 of this Act, minus | 17 | | deposits into the
Income Tax Refund Fund, the Department shall | 18 | | deposit 7.3% into the
Education Assistance Fund in the State | 19 | | Treasury. Beginning July 1, 1991,
and continuing through | 20 | | January 31, 1993, of the amounts collected pursuant to
| 21 | | subsections (a) and (b) of Section 201 of the Illinois Income | 22 | | Tax Act, minus
deposits into the Income Tax Refund Fund, the | 23 | | Department shall deposit 3.0%
into the Income Tax Surcharge | 24 | | Local Government Distributive Fund in the State
Treasury. | 25 | | Beginning February 1, 1993 and continuing through June 30, | 26 | | 1993, of
the amounts collected pursuant to subsections (a) and |
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| 1 | | (b) of Section 201 of the
Illinois Income Tax Act, minus | 2 | | deposits into the Income Tax Refund Fund, the
Department shall | 3 | | deposit 4.4% into the Income Tax Surcharge Local Government
| 4 | | Distributive Fund in the State Treasury. Beginning July 1, | 5 | | 1993, and
continuing through June 30, 1994, of the amounts | 6 | | collected under subsections
(a) and (b) of Section 201 of this | 7 | | Act, minus deposits into the Income Tax
Refund Fund, the | 8 | | Department shall deposit 1.475% into the Income Tax Surcharge
| 9 | | Local Government Distributive Fund in the State Treasury. | 10 | | (f) Deposits into the Fund for the Advancement of | 11 | | Education. Beginning February 1, 2015, the Department shall | 12 | | deposit the following portions of the revenue realized from the | 13 | | tax imposed upon individuals, trusts, and estates by | 14 | | subsections (a) and (b) of Section 201 of this Act, minus | 15 | | deposits into the Income Tax Refund Fund, into the Fund for the | 16 | | Advancement of Education: | 17 | | (1) beginning February 1, 2015, and prior to February | 18 | | 1, 2025, 1/30; and | 19 | | (2) beginning February 1, 2025, 1/26. | 20 | | If the rate of tax imposed by subsection (a) and (b) of | 21 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 22 | | the Department shall not make the deposits required by this | 23 | | subsection (f) on or after the effective date of the reduction. | 24 | | (g) Deposits into the Commitment to Human Services Fund. | 25 | | Beginning February 1, 2015, the Department shall deposit the | 26 | | following portions of the revenue realized from the tax imposed |
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| 1 | | upon individuals, trusts, and estates by subsections (a) and | 2 | | (b) of Section 201 of this Act, minus deposits into the Income | 3 | | Tax Refund Fund, into the Commitment to Human Services Fund: | 4 | | (1) beginning February 1, 2015, and prior to February | 5 | | 1, 2025, 1/30; and | 6 | | (2) beginning February 1, 2025, 1/26. | 7 | | If the rate of tax imposed by subsection (a) and (b) of | 8 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 9 | | the Department shall not make the deposits required by this | 10 | | subsection (g) on or after the effective date of the reduction. | 11 | | (h) Deposits into the Tax Compliance and Administration | 12 | | Fund. Beginning on the first day of the first calendar month to | 13 | | occur on or after August 26, 2014 (the effective date of Public | 14 | | Act 98-1098), each month the Department shall pay into the Tax | 15 | | Compliance and Administration Fund, to be used, subject to | 16 | | appropriation, to fund additional auditors and compliance | 17 | | personnel at the Department, an amount equal to 1/12 of 5% of | 18 | | the cash receipts collected during the preceding fiscal year by | 19 | | the Audit Bureau of the Department from the tax imposed by | 20 | | subsections (a), (b), (c), and (d) of Section 201 of this Act, | 21 | | net of deposits into the Income Tax Refund Fund made from those | 22 | | cash receipts. | 23 | | (Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17; | 24 | | 100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff. | 25 | | 8-14-18; 100-1171, eff. 1-4-19; 101-10, eff. 6-5-19; 101-81, | 26 | | eff. 7-12-19.) |
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| 1 | | (Text of Section after amendment by P.A. 101-8 )
| 2 | | Sec. 901. Collection authority. | 3 | | (a) In general. The Department shall collect the taxes | 4 | | imposed by this Act. The Department
shall collect certified | 5 | | past due child support amounts under Section 2505-650
of the | 6 | | Department of Revenue Law of the
Civil Administrative Code of | 7 | | Illinois. Except as
provided in subsections (b), (c), (e), (f), | 8 | | (g), and (h) of this Section, money collected
pursuant to | 9 | | subsections (a) and (b) of Section 201 of this Act shall be
| 10 | | paid into the General Revenue Fund in the State treasury; money
| 11 | | collected pursuant to subsections (c) and (d) of Section 201 of | 12 | | this Act
shall be paid into the Personal Property Tax | 13 | | Replacement Fund, a special
fund in the State Treasury; and | 14 | | money collected under Section 2505-650 of the
Department of | 15 | | Revenue Law of the
Civil Administrative Code of Illinois shall | 16 | | be paid
into the
Child Support Enforcement Trust Fund, a | 17 | | special fund outside the State
Treasury, or
to the State
| 18 | | Disbursement Unit established under Section 10-26 of the | 19 | | Illinois Public Aid
Code, as directed by the Department of | 20 | | Healthcare and Family Services. | 21 | | (b) Local Government Distributive Fund. Beginning August | 22 | | 1, 2017 and continuing through July 31, 2020 January 31, 2021 , | 23 | | the Treasurer shall transfer each month from the General | 24 | | Revenue Fund to the Local Government Distributive Fund an | 25 | | amount equal to the sum of (i) 6.06% (10% of the ratio of the 3% |
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| 1 | | individual income tax rate prior to 2011 to the 4.95% | 2 | | individual income tax rate after July 1, 2017) of the net | 3 | | revenue realized from the tax imposed by subsections (a) and | 4 | | (b) of Section 201 of this Act upon individuals, trusts, and | 5 | | estates during the preceding month and (ii) 6.85% (10% of the | 6 | | ratio of the 4.8% corporate income tax rate prior to 2011 to | 7 | | the 7% corporate income tax rate after July 1, 2017) of the net | 8 | | revenue realized from the tax imposed by subsections (a) and | 9 | | (b) of Section 201 of this Act upon corporations during the | 10 | | preceding month. Beginning August 1, 2020, the Treasurer shall | 11 | | transfer each
month from the General Revenue Fund to the Local | 12 | | Government Distributive Fund
an amount equal to 10% of the net | 13 | | revenue realized from the
tax imposed by
subsections (a) and | 14 | | (b) of Section 201 of the Illinois Income Tax Act during the | 15 | | preceding month. Beginning February 1, 2021, the Treasurer | 16 | | shall transfer each month from the General Revenue Fund to the | 17 | | Local Government Distributive Fund an amount equal to the sum | 18 | | of (i) 5.32% of the net revenue realized from the tax imposed | 19 | | by subsections (a) and (b) of Section 201 of this Act upon | 20 | | individuals, trusts, and estates during the preceding month and | 21 | | (ii) 6.16% of the net revenue realized from the tax imposed by | 22 | | subsections (a) and (b) of Section 201 of this Act upon | 23 | | corporations during the preceding month. Net revenue realized | 24 | | for a month shall be defined as the
revenue from the tax | 25 | | imposed by subsections (a) and (b) of Section 201 of this
Act | 26 | | which is deposited in the General Revenue Fund, the Education |
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| 1 | | Assistance
Fund, the Income Tax Surcharge Local Government | 2 | | Distributive Fund, the Fund for the Advancement of Education, | 3 | | and the Commitment to Human Services Fund during the
month | 4 | | minus the amount paid out of the General Revenue Fund in State | 5 | | warrants
during that same month as refunds to taxpayers for | 6 | | overpayment of liability
under the tax imposed by subsections | 7 | | (a) and (b) of Section 201 of this Act. | 8 | | Notwithstanding any provision of law to the contrary, | 9 | | beginning on July 6, 2017 (the effective date of Public Act | 10 | | 100-23), those amounts required under this subsection (b) to be | 11 | | transferred by the Treasurer into the Local Government | 12 | | Distributive Fund from the General Revenue Fund shall be | 13 | | directly deposited into the Local Government Distributive Fund | 14 | | as the revenue is realized from the tax imposed by subsections | 15 | | (a) and (b) of Section 201 of this Act. | 16 | | For State fiscal year 2020 only, notwithstanding any | 17 | | provision of law to the contrary, the total amount of revenue | 18 | | and deposits under this Section attributable to revenues | 19 | | realized during State fiscal year 2020 shall be reduced by 5%. | 20 | | (c) Deposits Into Income Tax Refund Fund. | 21 | | (1) Beginning on January 1, 1989 and thereafter, the | 22 | | Department shall
deposit a percentage of the amounts | 23 | | collected pursuant to subsections (a)
and (b)(1), (2), and | 24 | | (3) of Section 201 of this Act into a fund in the State
| 25 | | treasury known as the Income Tax Refund Fund. Beginning | 26 | | with State fiscal year 1990 and for each fiscal year
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| 1 | | thereafter, the percentage deposited into the Income Tax | 2 | | Refund Fund during a
fiscal year shall be the Annual | 3 | | Percentage. For fiscal year 2011, the Annual Percentage | 4 | | shall be 8.75%. For fiscal year 2012, the Annual Percentage | 5 | | shall be 8.75%. For fiscal year 2013, the Annual Percentage | 6 | | shall be 9.75%. For fiscal year 2014, the Annual Percentage | 7 | | shall be 9.5%. For fiscal year 2015, the Annual Percentage | 8 | | shall be 10%. For fiscal year 2018, the Annual Percentage | 9 | | shall be 9.8%. For fiscal year 2019, the Annual Percentage | 10 | | shall be 9.7%. For fiscal year 2020, the Annual Percentage | 11 | | shall be 9.5%. For all other
fiscal years, the
Annual | 12 | | Percentage shall be calculated as a fraction, the numerator | 13 | | of which
shall be the amount of refunds approved for | 14 | | payment by the Department during
the preceding fiscal year | 15 | | as a result of overpayment of tax liability under
| 16 | | subsections (a) and (b)(1), (2), and (3) of Section 201 of | 17 | | this Act plus the
amount of such refunds remaining approved | 18 | | but unpaid at the end of the
preceding fiscal year, minus | 19 | | the amounts transferred into the Income Tax
Refund Fund | 20 | | from the Tobacco Settlement Recovery Fund, and
the | 21 | | denominator of which shall be the amounts which will be | 22 | | collected pursuant
to subsections (a) and (b)(1), (2), and | 23 | | (3) of Section 201 of this Act during
the preceding fiscal | 24 | | year; except that in State fiscal year 2002, the Annual
| 25 | | Percentage shall in no event exceed 7.6%. The Director of | 26 | | Revenue shall
certify the Annual Percentage to the |
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| 1 | | Comptroller on the last business day of
the fiscal year | 2 | | immediately preceding the fiscal year for which it is to be
| 3 | | effective. | 4 | | (2) Beginning on January 1, 1989 and thereafter, the | 5 | | Department shall
deposit a percentage of the amounts | 6 | | collected pursuant to subsections (a)
and (b)(6), (7), and | 7 | | (8), (c) and (d) of Section 201
of this Act into a fund in | 8 | | the State treasury known as the Income Tax
Refund Fund. | 9 | | Beginning
with State fiscal year 1990 and for each fiscal | 10 | | year thereafter, the
percentage deposited into the Income | 11 | | Tax Refund Fund during a fiscal year
shall be the Annual | 12 | | Percentage. For fiscal year 2011, the Annual Percentage | 13 | | shall be 17.5%. For fiscal year 2012, the Annual Percentage | 14 | | shall be 17.5%. For fiscal year 2013, the Annual Percentage | 15 | | shall be 14%. For fiscal year 2014, the Annual Percentage | 16 | | shall be 13.4%. For fiscal year 2015, the Annual Percentage | 17 | | shall be 14%. For fiscal year 2018, the Annual Percentage | 18 | | shall be 17.5%. For fiscal year 2019, the Annual Percentage | 19 | | shall be 15.5%. For fiscal year 2020, the Annual Percentage | 20 | | shall be 14.25%. For all other fiscal years, the Annual
| 21 | | Percentage shall be calculated
as a fraction, the numerator | 22 | | of which shall be the amount of refunds
approved for | 23 | | payment by the Department during the preceding fiscal year | 24 | | as
a result of overpayment of tax liability under | 25 | | subsections (a) and (b)(6),
(7), and (8), (c) and (d) of | 26 | | Section 201 of this Act plus the
amount of such refunds |
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| 1 | | remaining approved but unpaid at the end of the
preceding | 2 | | fiscal year, and the denominator of
which shall be the | 3 | | amounts which will be collected pursuant to subsections (a)
| 4 | | and (b)(6), (7), and (8), (c) and (d) of Section 201 of | 5 | | this Act during the
preceding fiscal year; except that in | 6 | | State fiscal year 2002, the Annual
Percentage shall in no | 7 | | event exceed 23%. The Director of Revenue shall
certify the | 8 | | Annual Percentage to the Comptroller on the last business | 9 | | day of
the fiscal year immediately preceding the fiscal | 10 | | year for which it is to be
effective. | 11 | | (3) The Comptroller shall order transferred and the | 12 | | Treasurer shall
transfer from the Tobacco Settlement | 13 | | Recovery Fund to the Income Tax Refund
Fund (i) $35,000,000 | 14 | | in January, 2001, (ii) $35,000,000 in January, 2002, and
| 15 | | (iii) $35,000,000 in January, 2003. | 16 | | (d) Expenditures from Income Tax Refund Fund. | 17 | | (1) Beginning January 1, 1989, money in the Income Tax | 18 | | Refund Fund
shall be expended exclusively for the purpose | 19 | | of paying refunds resulting
from overpayment of tax | 20 | | liability under Section 201 of this Act
and for
making | 21 | | transfers pursuant to this subsection (d). | 22 | | (2) The Director shall order payment of refunds | 23 | | resulting from
overpayment of tax liability under Section | 24 | | 201 of this Act from the
Income Tax Refund Fund only to the | 25 | | extent that amounts collected pursuant
to Section 201 of | 26 | | this Act and transfers pursuant to this subsection (d)
and |
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| 1 | | item (3) of subsection (c) have been deposited and retained | 2 | | in the
Fund. | 3 | | (3) As soon as possible after the end of each fiscal | 4 | | year, the Director
shall
order transferred and the State | 5 | | Treasurer and State Comptroller shall
transfer from the | 6 | | Income Tax Refund Fund to the Personal Property Tax
| 7 | | Replacement Fund an amount, certified by the Director to | 8 | | the Comptroller,
equal to the excess of the amount | 9 | | collected pursuant to subsections (c) and
(d) of Section | 10 | | 201 of this Act deposited into the Income Tax Refund Fund
| 11 | | during the fiscal year over the amount of refunds resulting | 12 | | from
overpayment of tax liability under subsections (c) and | 13 | | (d) of Section 201
of this Act paid from the Income Tax | 14 | | Refund Fund during the fiscal year. | 15 | | (4) As soon as possible after the end of each fiscal | 16 | | year, the Director shall
order transferred and the State | 17 | | Treasurer and State Comptroller shall
transfer from the | 18 | | Personal Property Tax Replacement Fund to the Income Tax
| 19 | | Refund Fund an amount, certified by the Director to the | 20 | | Comptroller, equal
to the excess of the amount of refunds | 21 | | resulting from overpayment of tax
liability under | 22 | | subsections (c) and (d) of Section 201 of this Act paid
| 23 | | from the Income Tax Refund Fund during the fiscal year over | 24 | | the amount
collected pursuant to subsections (c) and (d) of | 25 | | Section 201 of this Act
deposited into the Income Tax | 26 | | Refund Fund during the fiscal year. |
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| 1 | | (4.5) As soon as possible after the end of fiscal year | 2 | | 1999 and of each
fiscal year
thereafter, the Director shall | 3 | | order transferred and the State Treasurer and
State | 4 | | Comptroller shall transfer from the Income Tax Refund Fund | 5 | | to the General
Revenue Fund any surplus remaining in the | 6 | | Income Tax Refund Fund as of the end
of such fiscal year; | 7 | | excluding for fiscal years 2000, 2001, and 2002
amounts | 8 | | attributable to transfers under item (3) of subsection (c) | 9 | | less refunds
resulting from the earned income tax credit. | 10 | | (5) This Act shall constitute an irrevocable and | 11 | | continuing
appropriation from the Income Tax Refund Fund | 12 | | for the purpose of paying
refunds upon the order of the | 13 | | Director in accordance with the provisions of
this Section. | 14 | | (e) Deposits into the Education Assistance Fund and the | 15 | | Income Tax
Surcharge Local Government Distributive Fund. On | 16 | | July 1, 1991, and thereafter, of the amounts collected pursuant | 17 | | to
subsections (a) and (b) of Section 201 of this Act, minus | 18 | | deposits into the
Income Tax Refund Fund, the Department shall | 19 | | deposit 7.3% into the
Education Assistance Fund in the State | 20 | | Treasury. Beginning July 1, 1991,
and continuing through | 21 | | January 31, 1993, of the amounts collected pursuant to
| 22 | | subsections (a) and (b) of Section 201 of the Illinois Income | 23 | | Tax Act, minus
deposits into the Income Tax Refund Fund, the | 24 | | Department shall deposit 3.0%
into the Income Tax Surcharge | 25 | | Local Government Distributive Fund in the State
Treasury. | 26 | | Beginning February 1, 1993 and continuing through June 30, |
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| 1 | | 1993, of
the amounts collected pursuant to subsections (a) and | 2 | | (b) of Section 201 of the
Illinois Income Tax Act, minus | 3 | | deposits into the Income Tax Refund Fund, the
Department shall | 4 | | deposit 4.4% into the Income Tax Surcharge Local Government
| 5 | | Distributive Fund in the State Treasury. Beginning July 1, | 6 | | 1993, and
continuing through June 30, 1994, of the amounts | 7 | | collected under subsections
(a) and (b) of Section 201 of this | 8 | | Act, minus deposits into the Income Tax
Refund Fund, the | 9 | | Department shall deposit 1.475% into the Income Tax Surcharge
| 10 | | Local Government Distributive Fund in the State Treasury. | 11 | | (f) Deposits into the Fund for the Advancement of | 12 | | Education. Beginning February 1, 2015, the Department shall | 13 | | deposit the following portions of the revenue realized from the | 14 | | tax imposed upon individuals, trusts, and estates by | 15 | | subsections (a) and (b) of Section 201 of this Act, minus | 16 | | deposits into the Income Tax Refund Fund, into the Fund for the | 17 | | Advancement of Education: | 18 | | (1) beginning February 1, 2015, and prior to February | 19 | | 1, 2025, 1/30; and | 20 | | (2) beginning February 1, 2025, 1/26. | 21 | | If the rate of tax imposed by subsection (a) and (b) of | 22 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 23 | | the Department shall not make the deposits required by this | 24 | | subsection (f) on or after the effective date of the reduction. | 25 | | (g) Deposits into the Commitment to Human Services Fund. | 26 | | Beginning February 1, 2015, the Department shall deposit the |
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| 1 | | following portions of the revenue realized from the tax imposed | 2 | | upon individuals, trusts, and estates by subsections (a) and | 3 | | (b) of Section 201 of this Act, minus deposits into the Income | 4 | | Tax Refund Fund, into the Commitment to Human Services Fund: | 5 | | (1) beginning February 1, 2015, and prior to February | 6 | | 1, 2025, 1/30; and | 7 | | (2) beginning February 1, 2025, 1/26. | 8 | | If the rate of tax imposed by subsection (a) and (b) of | 9 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 10 | | the Department shall not make the deposits required by this | 11 | | subsection (g) on or after the effective date of the reduction. | 12 | | (h) Deposits into the Tax Compliance and Administration | 13 | | Fund. Beginning on the first day of the first calendar month to | 14 | | occur on or after August 26, 2014 (the effective date of Public | 15 | | Act 98-1098), each month the Department shall pay into the Tax | 16 | | Compliance and Administration Fund, to be used, subject to | 17 | | appropriation, to fund additional auditors and compliance | 18 | | personnel at the Department, an amount equal to 1/12 of 5% of | 19 | | the cash receipts collected during the preceding fiscal year by | 20 | | the Audit Bureau of the Department from the tax imposed by | 21 | | subsections (a), (b), (c), and (d) of Section 201 of this Act, | 22 | | net of deposits into the Income Tax Refund Fund made from those | 23 | | cash receipts. | 24 | | (Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17; | 25 | | 100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff. | 26 | | 8-14-18; 100-1171, eff. 1-4-19; 101-8, see Section 99 for |
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| 1 | | effective date; 101-10, eff. 6-5-19; 101-81, eff. 7-12-19; | 2 | | revised 10-1-19.)
| 3 | | Section 95. No acceleration or delay. Where this Act makes | 4 | | changes in a statute that is represented in this Act by text | 5 | | that is not yet or no longer in effect (for example, a Section | 6 | | represented by multiple versions), the use of that text does | 7 | | not accelerate or delay the taking effect of (i) the changes | 8 | | made by this Act or (ii) provisions derived from any other | 9 | | Public Act. | 10 | | Section 99. Effective date. This Act takes effect upon | 11 | | becoming law.
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