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Public Act 098-1052
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| HB0961 Enrolled | LRB098 06118 HLH 36159 b |
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AN ACT concerning revenue.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The State Revenue Sharing Act is amended by |
changing Section 1 as follows:
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(30 ILCS 115/1) (from Ch. 85, par. 611)
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Sec. 1. Local Government Distributive Fund. Through June |
30, 1994, as
soon as may be after the first day of each month |
the Department of Revenue
shall certify to the Treasurer an |
amount equal to 1/12 of the net revenue
realized from the tax |
imposed by subsections (a) and (b) of Section 201 of the
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Illinois Income Tax Act during the preceding month. Beginning |
July 1, 1994,
and continuing through June 30, 1995, as soon as |
may be after the first day of
each month, the Department of |
Revenue shall certify to the Treasurer an amount
equal to 1/11 |
of the net revenue realized from the tax imposed by subsections
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(a) and (b) of Section 201 of the Illinois Income Tax Act |
during the preceding
month. Beginning July 1, 1995, as soon as |
may be after the first day of each
month, the Department of |
Revenue shall certify to the Treasurer an amount equal
to the |
amounts calculated pursuant to subsection (b) of Section 901 of |
the Illinois Income Tax Act based on 1/10 of the net revenue |
realized from the tax imposed by subsections (a) and
(b) of |
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Section 201 of the Illinois Income Tax Act during the preceding |
month.
Net revenue realized for a month shall be defined as the |
revenue from the tax
imposed by subsections (a) and (b) of |
Section 201 of the Illinois Income Tax
Act which is deposited |
in the General Revenue Fund, the Education Assistance
Fund and |
the Income Tax Surcharge Local Government Distributive Fund |
during the
month minus the amount paid out of the General |
Revenue Fund in State warrants
during that same month as |
refunds to taxpayers for overpayment of liability
under the tax |
imposed by subsections (a) and (b) of Section 201 of the |
Illinois
Income Tax Act. Upon receipt of such certification, |
the Treasurer shall
transfer from the General Revenue Fund to a |
special fund in the State treasury,
to be known as the "Local |
Government Distributive Fund", the amount shown on
such |
certification.
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Beginning on the effective date of this amendatory Act of |
the 98th General Assembly, the Comptroller shall perform the |
transfers required by this Section no later than 60 days after |
he or she receives the certification from the Treasurer. |
All amounts paid into the Local Government Distributive |
Fund in accordance
with this Section and allocated pursuant to |
this Act are appropriated on a
continuing basis.
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(Source: P.A. 88-89.)
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Section 10. The Illinois Income Tax Act is amended by |
changing Section 901 as follows:
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(35 ILCS 5/901) (from Ch. 120, par. 9-901) |
Sec. 901. Collection Authority. |
(a) In general. |
The Department shall collect the taxes imposed by this Act. |
The Department
shall collect certified past due child support |
amounts under Section 2505-650
of the Department of Revenue Law |
(20 ILCS 2505/2505-650). Except as
provided in subsections (c), |
(e), (f), and (g) of this Section, money collected
pursuant to |
subsections (a) and (b) of Section 201 of this Act shall be
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paid into the General Revenue Fund in the State treasury; money
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collected pursuant to subsections (c) and (d) of Section 201 of |
this Act
shall be paid into the Personal Property Tax |
Replacement Fund, a special
fund in the State Treasury; and |
money collected under Section 2505-650 of the
Department of |
Revenue Law (20 ILCS 2505/2505-650) shall be paid
into the
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Child Support Enforcement Trust Fund, a special fund outside |
the State
Treasury, or
to the State
Disbursement Unit |
established under Section 10-26 of the Illinois Public Aid
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Code, as directed by the Department of Healthcare and Family |
Services. |
(b) Local Government Distributive Fund. |
Beginning August 1, 1969, and continuing through June 30, |
1994, the Treasurer
shall transfer each month from the General |
Revenue Fund to a special fund in
the State treasury, to be |
known as the "Local Government Distributive Fund", an
amount |
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equal to 1/12 of the net revenue realized from the tax imposed |
by
subsections (a) and (b) of Section 201 of this Act during |
the preceding month.
Beginning July 1, 1994, and continuing |
through June 30, 1995, the Treasurer
shall transfer each month |
from the General Revenue Fund to the Local Government
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Distributive Fund an amount equal to 1/11 of the net revenue |
realized from the
tax imposed by subsections (a) and (b) of |
Section 201 of this Act during the
preceding month. Beginning |
July 1, 1995 and continuing through January 31, 2011, the |
Treasurer shall transfer each
month from the General Revenue |
Fund to the Local Government Distributive Fund
an amount equal |
to the net of (i) 1/10 of the net revenue realized from the
tax |
imposed by
subsections (a) and (b) of Section 201 of the |
Illinois Income Tax Act during
the preceding month
(ii) minus, |
beginning July 1, 2003 and ending June 30, 2004, $6,666,666, |
and
beginning July 1,
2004,
zero. Beginning February 1, 2011, |
and continuing through January 31, 2015, the Treasurer shall |
transfer each month from the General Revenue Fund to the Local |
Government Distributive Fund an amount equal to the sum of (i) |
6% (10% of the ratio of the 3% individual income tax rate prior |
to 2011 to the 5% individual income tax rate after 2010) of the |
net revenue realized from the tax imposed by subsections (a) |
and (b) of Section 201 of this Act upon individuals, trusts, |
and estates during the preceding month and (ii) 6.86% (10% of |
the ratio of the 4.8% corporate income tax rate prior to 2011 |
to the 7% corporate income tax rate after 2010) of the net |
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revenue realized from the tax imposed by subsections (a) and |
(b) of Section 201 of this Act upon corporations during the |
preceding month. Beginning February 1, 2015 and continuing |
through January 31, 2025, the Treasurer shall transfer each |
month from the General Revenue Fund to the Local Government |
Distributive Fund an amount equal to the sum of (i) 8% (10% of |
the ratio of the 3% individual income tax rate prior to 2011 to |
the 3.75% individual income tax rate after 2014) of the net |
revenue realized from the tax imposed by subsections (a) and |
(b) of Section 201 of this Act upon individuals, trusts, and |
estates during the preceding month and (ii) 9.14% (10% of the |
ratio of the 4.8% corporate income tax rate prior to 2011 to |
the 5.25% corporate income tax rate after 2014) of the net |
revenue realized from the tax imposed by subsections (a) and |
(b) of Section 201 of this Act upon corporations during the |
preceding month. Beginning February 1, 2025, the Treasurer |
shall transfer each month from the General Revenue Fund to the |
Local Government Distributive Fund an amount equal to the sum |
of (i) 9.23% (10% of the ratio of the 3% individual income tax |
rate prior to 2011 to the 3.25% individual income tax rate |
after 2024) of the net revenue realized from the tax imposed by |
subsections (a) and (b) of Section 201 of this Act upon |
individuals, trusts, and estates during the preceding month and |
(ii) 10% of the net revenue realized from the tax imposed by |
subsections (a) and (b) of Section 201 of this Act upon |
corporations during the preceding month. Net revenue realized |
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for a month shall be defined as the
revenue from the tax |
imposed by subsections (a) and (b) of Section 201 of this
Act |
which is deposited in the General Revenue Fund, the Education |
Assistance
Fund, the Income Tax Surcharge Local Government |
Distributive Fund, the Fund for the Advancement of Education, |
and the Commitment to Human Services Fund during the
month |
minus the amount paid out of the General Revenue Fund in State |
warrants
during that same month as refunds to taxpayers for |
overpayment of liability
under the tax imposed by subsections |
(a) and (b) of Section 201 of this Act. |
Beginning on the effective date of this amendatory Act of |
the 98th General Assembly, the Comptroller shall perform the |
transfers required by this subsection (b) no later than 60 days |
after he or she receives the certification from the Treasurer |
as provided in Section 1 of the State Revenue Sharing Act. |
(c) Deposits Into Income Tax Refund Fund. |
(1) Beginning on January 1, 1989 and thereafter, the |
Department shall
deposit a percentage of the amounts |
collected pursuant to subsections (a)
and (b)(1), (2), and |
(3), of Section 201 of this Act into a fund in the State
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treasury known as the Income Tax Refund Fund. The |
Department shall deposit 6%
of such amounts during the |
period beginning January 1, 1989 and ending on June
30, |
1989. Beginning with State fiscal year 1990 and for each |
fiscal year
thereafter, the percentage deposited into the |
Income Tax Refund Fund during a
fiscal year shall be the |
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Annual Percentage. For fiscal years 1999 through
2001, the |
Annual Percentage shall be 7.1%.
For fiscal year 2003, the |
Annual Percentage shall be 8%.
For fiscal year 2004, the |
Annual Percentage shall be 11.7%. Upon the effective date |
of this amendatory Act of the 93rd General Assembly, the |
Annual Percentage shall be 10% for fiscal year 2005. For |
fiscal year 2006, the Annual Percentage shall be 9.75%. For |
fiscal
year 2007, the Annual Percentage shall be 9.75%. For |
fiscal year 2008, the Annual Percentage shall be 7.75%. For |
fiscal year 2009, the Annual Percentage shall be 9.75%. For |
fiscal year 2010, the Annual Percentage shall be 9.75%. For |
fiscal year 2011, the Annual Percentage shall be 8.75%. For |
fiscal year 2012, the Annual Percentage shall be 8.75%. For |
fiscal year 2013, the Annual Percentage shall be 9.75%. For |
fiscal year 2014, the Annual Percentage shall be 9.5%. For |
all other
fiscal years, the
Annual Percentage shall be |
calculated as a fraction, the numerator of which
shall be |
the amount of refunds approved for payment by the |
Department during
the preceding fiscal year as a result of |
overpayment of tax liability under
subsections (a) and |
(b)(1), (2), and (3) of Section 201 of this Act plus the
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amount of such refunds remaining approved but unpaid at the |
end of the
preceding fiscal year, minus the amounts |
transferred into the Income Tax
Refund Fund from the |
Tobacco Settlement Recovery Fund, and
the denominator of |
which shall be the amounts which will be collected pursuant
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to subsections (a) and (b)(1), (2), and (3) of Section 201 |
of this Act during
the preceding fiscal year; except that |
in State fiscal year 2002, the Annual
Percentage shall in |
no event exceed 7.6%. The Director of Revenue shall
certify |
the Annual Percentage to the Comptroller on the last |
business day of
the fiscal year immediately preceding the |
fiscal year for which it is to be
effective. |
(2) Beginning on January 1, 1989 and thereafter, the |
Department shall
deposit a percentage of the amounts |
collected pursuant to subsections (a)
and (b)(6), (7), and |
(8), (c) and (d) of Section 201
of this Act into a fund in |
the State treasury known as the Income Tax
Refund Fund. The |
Department shall deposit 18% of such amounts during the
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period beginning January 1, 1989 and ending on June 30, |
1989. Beginning
with State fiscal year 1990 and for each |
fiscal year thereafter, the
percentage deposited into the |
Income Tax Refund Fund during a fiscal year
shall be the |
Annual Percentage. For fiscal years 1999, 2000, and 2001, |
the
Annual Percentage shall be 19%.
For fiscal year 2003, |
the Annual Percentage shall be 27%. For fiscal year
2004, |
the Annual Percentage shall be 32%.
Upon the effective date |
of this amendatory Act of the 93rd General Assembly, the |
Annual Percentage shall be 24% for fiscal year 2005.
For |
fiscal year 2006, the Annual Percentage shall be 20%. For |
fiscal
year 2007, the Annual Percentage shall be 17.5%. For |
fiscal year 2008, the Annual Percentage shall be 15.5%. For |
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fiscal year 2009, the Annual Percentage shall be 17.5%. For |
fiscal year 2010, the Annual Percentage shall be 17.5%. For |
fiscal year 2011, the Annual Percentage shall be 17.5%. For |
fiscal year 2012, the Annual Percentage shall be 17.5%. For |
fiscal year 2013, the Annual Percentage shall be 14%. For |
fiscal year 2014, the Annual Percentage shall be 13.4%. For |
all other fiscal years, the Annual
Percentage shall be |
calculated
as a fraction, the numerator of which shall be |
the amount of refunds
approved for payment by the |
Department during the preceding fiscal year as
a result of |
overpayment of tax liability under subsections (a) and |
(b)(6),
(7), and (8), (c) and (d) of Section 201 of this |
Act plus the
amount of such refunds remaining approved but |
unpaid at the end of the
preceding fiscal year, and the |
denominator of
which shall be the amounts which will be |
collected pursuant to subsections (a)
and (b)(6), (7), and |
(8), (c) and (d) of Section 201 of this Act during the
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preceding fiscal year; except that in State fiscal year |
2002, the Annual
Percentage shall in no event exceed 23%. |
The Director of Revenue shall
certify the Annual Percentage |
to the Comptroller on the last business day of
the fiscal |
year immediately preceding the fiscal year for which it is |
to be
effective. |
(3) The Comptroller shall order transferred and the |
Treasurer shall
transfer from the Tobacco Settlement |
Recovery Fund to the Income Tax Refund
Fund (i) $35,000,000 |
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in January, 2001, (ii) $35,000,000 in January, 2002, and
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(iii) $35,000,000 in January, 2003. |
(d) Expenditures from Income Tax Refund Fund. |
(1) Beginning January 1, 1989, money in the Income Tax |
Refund Fund
shall be expended exclusively for the purpose |
of paying refunds resulting
from overpayment of tax |
liability under Section 201 of this Act, for paying
rebates |
under Section 208.1 in the event that the amounts in the |
Homeowners'
Tax Relief Fund are insufficient for that |
purpose,
and for
making transfers pursuant to this |
subsection (d). |
(2) The Director shall order payment of refunds |
resulting from
overpayment of tax liability under Section |
201 of this Act from the
Income Tax Refund Fund only to the |
extent that amounts collected pursuant
to Section 201 of |
this Act and transfers pursuant to this subsection (d)
and |
item (3) of subsection (c) have been deposited and retained |
in the
Fund. |
(3) As soon as possible after the end of each fiscal |
year, the Director
shall
order transferred and the State |
Treasurer and State Comptroller shall
transfer from the |
Income Tax Refund Fund to the Personal Property Tax
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Replacement Fund an amount, certified by the Director to |
the Comptroller,
equal to the excess of the amount |
collected pursuant to subsections (c) and
(d) of Section |
201 of this Act deposited into the Income Tax Refund Fund
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during the fiscal year over the amount of refunds resulting |
from
overpayment of tax liability under subsections (c) and |
(d) of Section 201
of this Act paid from the Income Tax |
Refund Fund during the fiscal year. |
(4) As soon as possible after the end of each fiscal |
year, the Director shall
order transferred and the State |
Treasurer and State Comptroller shall
transfer from the |
Personal Property Tax Replacement Fund to the Income Tax
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Refund Fund an amount, certified by the Director to the |
Comptroller, equal
to the excess of the amount of refunds |
resulting from overpayment of tax
liability under |
subsections (c) and (d) of Section 201 of this Act paid
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from the Income Tax Refund Fund during the fiscal year over |
the amount
collected pursuant to subsections (c) and (d) of |
Section 201 of this Act
deposited into the Income Tax |
Refund Fund during the fiscal year. |
(4.5) As soon as possible after the end of fiscal year |
1999 and of each
fiscal year
thereafter, the Director shall |
order transferred and the State Treasurer and
State |
Comptroller shall transfer from the Income Tax Refund Fund |
to the General
Revenue Fund any surplus remaining in the |
Income Tax Refund Fund as of the end
of such fiscal year; |
excluding for fiscal years 2000, 2001, and 2002
amounts |
attributable to transfers under item (3) of subsection (c) |
less refunds
resulting from the earned income tax credit. |
(5) This Act shall constitute an irrevocable and |
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continuing
appropriation from the Income Tax Refund Fund |
for the purpose of paying
refunds upon the order of the |
Director in accordance with the provisions of
this Section. |
(e) Deposits into the Education Assistance Fund and the |
Income Tax
Surcharge Local Government Distributive Fund. |
On July 1, 1991, and thereafter, of the amounts collected |
pursuant to
subsections (a) and (b) of Section 201 of this Act, |
minus deposits into the
Income Tax Refund Fund, the Department |
shall deposit 7.3% into the
Education Assistance Fund in the |
State Treasury. Beginning July 1, 1991,
and continuing through |
January 31, 1993, of the amounts collected pursuant to
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subsections (a) and (b) of Section 201 of the Illinois Income |
Tax Act, minus
deposits into the Income Tax Refund Fund, the |
Department shall deposit 3.0%
into the Income Tax Surcharge |
Local Government Distributive Fund in the State
Treasury. |
Beginning February 1, 1993 and continuing through June 30, |
1993, of
the amounts collected pursuant to subsections (a) and |
(b) of Section 201 of the
Illinois Income Tax Act, minus |
deposits into the Income Tax Refund Fund, the
Department shall |
deposit 4.4% into the Income Tax Surcharge Local Government
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Distributive Fund in the State Treasury. Beginning July 1, |
1993, and
continuing through June 30, 1994, of the amounts |
collected under subsections
(a) and (b) of Section 201 of this |
Act, minus deposits into the Income Tax
Refund Fund, the |
Department shall deposit 1.475% into the Income Tax Surcharge
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Local Government Distributive Fund in the State Treasury. |
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(f) Deposits into the Fund for the Advancement of |
Education. Beginning February 1, 2015, the Department shall |
deposit the following portions of the revenue realized from the |
tax imposed upon individuals, trusts, and estates by |
subsections (a) and (b) of Section 201 of this Act during the |
preceding month, minus deposits into the Income Tax Refund |
Fund, into the Fund for the Advancement of Education: |
(1) beginning February 1, 2015, and prior to February |
1, 2025, 1/30; and |
(2) beginning February 1, 2025, 1/26. |
If the rate of tax imposed by subsection (a) and (b) of |
Section 201 is reduced pursuant to Section 201.5 of this Act, |
the Department shall not make the deposits required by this |
subsection (f) on or after the effective date of the reduction. |
(g) Deposits into the Commitment to Human Services Fund. |
Beginning February 1, 2015, the Department shall deposit the |
following portions of the revenue realized from the tax imposed |
upon individuals, trusts, and estates by subsections (a) and |
(b) of Section 201 of this Act during the preceding month, |
minus deposits into the Income Tax Refund Fund, into the |
Commitment to Human Services Fund: |
(1) beginning February 1, 2015, and prior to February |
1, 2025, 1/30; and |
(2) beginning February 1, 2025, 1/26. |
If the rate of tax imposed by subsection (a) and (b) of |
Section 201 is reduced pursuant to Section 201.5 of this Act, |