Bill Status of HB 4062   103rd General Assembly

Short Description:  INC TX-LGDF

House Sponsors
Rep. Ryan Spain-Tony M. McCombie-Brad Stephens-Anthony DeLuca-John Egofske and Jennifer Sanalitro

Last Action  View All Actions

DateChamber Action
  1/7/2025HouseSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 115/2from Ch. 85, par. 612
35 ILCS 5/901

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the following amounts shall be deposited into the Local Government Distributive Fund as the revenue is realized from the specified taxes: (i) 10% of the net revenue realized from the tax imposed under the Act upon individuals, trusts, and estates; (ii) 10% of the net revenue realized from the tax imposed by the Act upon electing pass-through entities; and (iii) 10% of the net revenue realized from the tax imposed by the Act upon corporations. Amends the State Revenue Sharing Act to provide that amounts paid into the Local Government Distributive Fund are appropriated on a continuing basis. Effective immediately.

Actions 
DateChamber Action
  5/2/2023HouseFiled with the Clerk by Rep. Ryan Spain
  5/2/2023HouseAdded Chief Co-Sponsor Rep. Tony M. McCombie
  5/2/2023HouseAdded Chief Co-Sponsor Rep. Brad Stephens
  5/2/2023HouseAdded Chief Co-Sponsor Rep. Anthony DeLuca
  5/2/2023HouseAdded Chief Co-Sponsor Rep. John Egofske
  5/2/2023HouseFirst Reading
  5/2/2023HouseReferred to Rules Committee
  5/10/2023HouseAdded Co-Sponsor Rep. Jennifer Sanalitro
  1/7/2025HouseSession Sine Die

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