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Sen. Doris Turner
Filed: 4/20/2021
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| 1 | | AMENDMENT TO SENATE BILL 855
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 855 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The State Revenue Sharing Act is amended by |
| 5 | | changing Section 1 as follows:
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| 6 | | (30 ILCS 115/1) (from Ch. 85, par. 611)
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| 7 | | Sec. 1. Local Government Distributive Fund. Through June |
| 8 | | 30, 1994, as
soon as may be after the first day of each month |
| 9 | | the Department of Revenue
shall certify to the Treasurer an |
| 10 | | amount equal to 1/12 of the net revenue
realized from the tax |
| 11 | | imposed by subsections (a) and (b) of Section 201 of the
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| 12 | | Illinois Income Tax Act during the preceding month. Beginning |
| 13 | | July 1, 1994,
and continuing through June 30, 1995, as soon as |
| 14 | | may be after the first day of
each month, the Department of |
| 15 | | Revenue shall certify to the Treasurer an amount
equal to 1/11 |
| 16 | | of the net revenue realized from the tax imposed by |
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| 1 | | subsections
(a) and (b) of Section 201 of the Illinois Income |
| 2 | | Tax Act during the preceding
month. Beginning July 1, 1995, as |
| 3 | | soon as may be after the first day of each
month, the |
| 4 | | Department of Revenue shall certify to the Treasurer an amount |
| 5 | | equal
to the amounts calculated pursuant to subsection (b) of |
| 6 | | Section 901 of the Illinois Income Tax Act based on the net |
| 7 | | revenue realized from the tax imposed by subsections (a) and
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| 8 | | (b) of Section 201 of the Illinois Income Tax Act during the |
| 9 | | preceding month.
Net revenue realized for a month shall be |
| 10 | | defined as the revenue from the tax
imposed by subsections (a) |
| 11 | | and (b) of Section 201 of the Illinois Income Tax
Act which is |
| 12 | | deposited in the General Revenue Fund, the Education |
| 13 | | Assistance
Fund and the Income Tax Surcharge Local Government |
| 14 | | Distributive Fund during the
month minus the amount paid out |
| 15 | | of the General Revenue Fund in State warrants
during that same |
| 16 | | month as refunds to taxpayers for overpayment of liability
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| 17 | | under the tax imposed by subsections (a) and (b) of Section 201 |
| 18 | | of the Illinois
Income Tax Act. Upon receipt of such |
| 19 | | certification, the Treasurer shall
transfer from the General |
| 20 | | Revenue Fund to a special fund in the State treasury,
to be |
| 21 | | known as the "Local Government Distributive Fund", the amount |
| 22 | | shown on
such certification.
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| 23 | | Beginning on the effective date of this amendatory Act of |
| 24 | | the 98th General Assembly, the Comptroller shall perform the |
| 25 | | transfers required by this Section no later than 60 days after |
| 26 | | he or she receives the certification from the Treasurer. |
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| 1 | | All amounts paid into the Local Government Distributive |
| 2 | | Fund in accordance
with this Section and allocated pursuant to |
| 3 | | this Act are appropriated on a
continuing basis. |
| 4 | | Notwithstanding any provision of law to the contrary, for |
| 5 | | fiscal year 2022, no amounts paid into the Local Government |
| 6 | | Distributive Fund shall be withheld from any municipality or |
| 7 | | county entitled to such funding under this Act.
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| 8 | | (Source: P.A. 98-1052, eff. 8-26-14.)".
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