SB2288sam001 95TH GENERAL ASSEMBLY

Sen. James T. Meeks

Filed: 5/8/2008

09500SB2288sam001 LRB095 19753 RCE 50704 a

AMENDMENT TO SENATE BILL 2288

AMENDMENT NO. ______. Amend Senate Bill 2288 by inserting the following in its proper numeric sequence:

"Section 6.5. The State Finance Act is amended by adding Section 5.720 as follows:

(30 ILCS 105/5.720 new)

Sec. 5.720. The Supplemental Local Government Distributive Fund.

Section 6.6. The State Revenue Sharing Act is amended by changing Section 2 and by adding Section 1b as follows:

(30 ILCS 115/1b new)

Sec. 1b. Supplemental Local Government Distributive Fund. Beginning on July 1, 2008, as soon as may be after the first day of each month, the Department of Revenue shall certify to the State Treasurer an amount equal to one-tenth 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. Net revenue realized for a month is defined as the revenue from the tax imposed by subsections (a) and (b) of Section 201 of the Illinois Income Tax Act that is deposited in the General Revenue Fund, the Education Assistance Fund, the Local Government Distributive 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 the certification, the Treasurer shall transfer from the General Revenue Fund to a special fund in the State treasury, to be known as the "Supplemental Local Government Distributive Fund", the amount shown on the certification; however, those transfers shall not exceed $16,666,666 per month.

(30 ILCS 115/2) (from Ch. 85, par. 612)

Sec. 2. Allocation and Disbursement. As soon as may be after the first day of each month, the Department of Revenue shall allocate among the several municipalities and counties of this State the amount available in the Local Government Distributive Fund, the Supplemental Local Government Distributive Fund, and in the Income Tax Surcharge Local Government Distributive Fund, determined as provided in Sections 1, and 1a, and 1b of this Act above. Except as provided in Sections 13 and 13.1 of this Act, the Department shall then certify such allocations to the State Comptroller, who shall pay over to the several municipalities and counties the respective amounts allocated to them. The amount of such Funds allocable to each such municipality and county shall be in proportion to the number of individual residents of such municipality or county to the total population of the State, determined in each case on the basis of the latest census of the State, municipality or county conducted by the Federal government and certified by the Secretary of State and for annexations to municipalities, the latest Federal, State or municipal census of the annexed area which has been certified by the Department of Revenue. Allocations to the City of Chicago under this Section are subject to Section 6 of the Hotel Operators' Occupation Tax Act. For the purpose of this Section, the number of individual residents of a county shall be reduced by the number of individuals residing therein in municipalities, but the number of individual residents of the State, county and municipality shall reflect the latest census of any of them. The amounts transferred into the Local Government Distributive Fund pursuant to Section 9 of the Use Tax Act, Section 9 of the Service Use Tax Act, Section 9 of the Service Occupation Tax Act, and Section 3 of the Retailers' Occupation Tax Act, each as now or hereafter amended, pursuant to the amendments of such Sections by Public Act 85-1135, shall be distributed as provided in said Sections.

(Source: P.A. 91-51, eff. 6-30-99; 91-935, eff. 6-1-01.)".