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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Income Tax Act is amended by | ||||||||||||||||||||||||
5 | changing Section 901 as follows:
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6 | (35 ILCS 5/901)
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7 | (Text of Section without the changes made by P.A. 101-8, | ||||||||||||||||||||||||
8 | which did not take effect (see Section 99 of P.A. 101-8)) | ||||||||||||||||||||||||
9 | Sec. 901. Collection authority. | ||||||||||||||||||||||||
10 | (a) In general. The Department shall collect the taxes | ||||||||||||||||||||||||
11 | imposed by this Act. The Department
shall collect certified | ||||||||||||||||||||||||
12 | past due child support amounts under Section 2505-650
of the | ||||||||||||||||||||||||
13 | Department of Revenue Law of the
Civil Administrative Code of | ||||||||||||||||||||||||
14 | Illinois. Except as
provided in subsections (b), (c), (e), | ||||||||||||||||||||||||
15 | (f), (g), and (h) of this Section, money collected
pursuant to | ||||||||||||||||||||||||
16 | subsections (a) and (b) of Section 201 of this Act shall be
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17 | paid into the General Revenue Fund in the State treasury; | ||||||||||||||||||||||||
18 | money
collected pursuant to subsections (c) and (d) of Section | ||||||||||||||||||||||||
19 | 201 of this Act
shall be paid into the Personal Property Tax | ||||||||||||||||||||||||
20 | Replacement Fund, a special
fund in the State Treasury; and | ||||||||||||||||||||||||
21 | money collected under Section 2505-650 of the
Department of | ||||||||||||||||||||||||
22 | Revenue Law of the
Civil Administrative Code of Illinois shall | ||||||||||||||||||||||||
23 | be paid
into the
Child Support Enforcement Trust Fund, a |
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1 | special fund outside the State
Treasury, or
to the State
| ||||||
2 | Disbursement Unit established under Section 10-26 of the | ||||||
3 | Illinois Public Aid
Code, as directed by the Department of | ||||||
4 | Healthcare and Family Services. | ||||||
5 | (b) Local Government Distributive Fund. Beginning August | ||||||
6 | 1, 2017 and continuing through January 31, 2022 , the Treasurer | ||||||
7 | shall transfer each month from the General Revenue Fund to the | ||||||
8 | Local Government Distributive Fund an amount equal to the sum | ||||||
9 | of (i) 6.06% (10% of the ratio of the 3% individual income tax | ||||||
10 | rate prior to 2011 to the 4.95% individual income tax rate | ||||||
11 | after July 1, 2017) of the net revenue realized from the tax | ||||||
12 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
13 | upon individuals, trusts, and estates during the preceding | ||||||
14 | month and (ii) 6.85% (10% of the ratio of the 4.8% corporate | ||||||
15 | income tax rate prior to 2011 to the 7% corporate income tax | ||||||
16 | rate after July 1, 2017) of the net revenue realized from the | ||||||
17 | tax imposed by subsections (a) and (b) of Section 201 of this | ||||||
18 | Act upon corporations during the preceding month. Beginning | ||||||
19 | February 1, 2022 and continuing through January 31, 2023, the | ||||||
20 | Treasurer shall transfer each month from the General Revenue | ||||||
21 | Fund to the Local Government Distributive Fund an amount equal | ||||||
22 | to the sum of (i) 8.5% of the net revenue realized from the tax | ||||||
23 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
24 | upon individuals, trusts, and estates during the preceding | ||||||
25 | month and (ii) 9.355% of the net revenue realized from the tax | ||||||
26 | imposed by subsections (a) and (b) of Section 201 of this Act |
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1 | upon corporations during the preceding month. Beginning | ||||||
2 | February 1, 2023 and continuing through January 31, 2024, the | ||||||
3 | Treasurer shall transfer each month from the General Revenue | ||||||
4 | Fund to the Local Government Distributive Fund an amount equal | ||||||
5 | to the sum of (i) 9% of the net revenue realized from the tax | ||||||
6 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
7 | upon individuals, trusts, and estates during the preceding | ||||||
8 | month and (ii) 9.57% of the net revenue realized from the tax | ||||||
9 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
10 | upon corporations during the preceding month. Beginning | ||||||
11 | February 1, 2024 and continuing through January 31, 2025, the | ||||||
12 | Treasurer shall transfer each month from the General Revenue | ||||||
13 | Fund to the Local Government Distributive Fund an amount equal | ||||||
14 | to the sum of (i) 9.5% of the net revenue realized from the tax | ||||||
15 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
16 | upon individuals, trusts, and estates during the preceding | ||||||
17 | month and (ii) 9.785% of the net revenue realized from the tax | ||||||
18 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
19 | upon corporations during the preceding month. Beginning on | ||||||
20 | February 1, 2025, the Treasurer shall transfer each month from | ||||||
21 | the General Revenue Fund to the Local Government Distributive | ||||||
22 | Fund an amount equal to 10% of the net revenue realized from | ||||||
23 | the
tax imposed on individuals, trusts, estates, and | ||||||
24 | corporations by
subsections (a) and (b) of Section 201 of the | ||||||
25 | Illinois Income Tax Act during
the preceding month. Net | ||||||
26 | revenue realized for a month shall be defined as the
revenue |
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1 | from the tax imposed by subsections (a) and (b) of Section 201 | ||||||
2 | of this
Act which is deposited in the General Revenue Fund, the | ||||||
3 | Education Assistance
Fund, the Income Tax Surcharge Local | ||||||
4 | Government Distributive Fund, the Fund for the Advancement of | ||||||
5 | Education, and the Commitment to Human Services Fund during | ||||||
6 | the
month minus the amount paid out of the General Revenue Fund | ||||||
7 | in State warrants
during that same month as refunds to | ||||||
8 | taxpayers for overpayment of liability
under the tax imposed | ||||||
9 | by subsections (a) and (b) of Section 201 of this Act. | ||||||
10 | Notwithstanding any provision of law to the contrary, | ||||||
11 | beginning on July 6, 2017 (the effective date of Public Act | ||||||
12 | 100-23), those amounts required under this subsection (b) to | ||||||
13 | be transferred by the Treasurer into the Local Government | ||||||
14 | Distributive Fund from the General Revenue Fund shall be | ||||||
15 | directly deposited into the Local Government Distributive Fund | ||||||
16 | as the revenue is realized from the tax imposed by subsections | ||||||
17 | (a) and (b) of Section 201 of this Act. | ||||||
18 | For State fiscal year 2020 only, notwithstanding any | ||||||
19 | provision of law to the contrary, the total amount of revenue | ||||||
20 | and deposits under this Section attributable to revenues | ||||||
21 | realized during State fiscal year 2020 shall be reduced by 5%. | ||||||
22 | (c) Deposits Into Income Tax Refund Fund. | ||||||
23 | (1) Beginning on January 1, 1989 and thereafter, the | ||||||
24 | Department shall
deposit a percentage of the amounts | ||||||
25 | collected pursuant to subsections (a)
and (b)(1), (2), and | ||||||
26 | (3) of Section 201 of this Act into a fund in the State
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1 | treasury known as the Income Tax Refund Fund. Beginning | ||||||
2 | with State fiscal year 1990 and for each fiscal year
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3 | thereafter, the percentage deposited into the Income Tax | ||||||
4 | Refund Fund during a
fiscal year shall be the Annual | ||||||
5 | Percentage. For fiscal year 2011, the Annual Percentage | ||||||
6 | shall be 8.75%. For fiscal year 2012, the Annual | ||||||
7 | Percentage shall be 8.75%. For fiscal year 2013, the | ||||||
8 | Annual Percentage shall be 9.75%. For fiscal year 2014, | ||||||
9 | the Annual Percentage shall be 9.5%. For fiscal year 2015, | ||||||
10 | the Annual Percentage shall be 10%. For fiscal year 2018, | ||||||
11 | the Annual Percentage shall be 9.8%. For fiscal year 2019, | ||||||
12 | the Annual Percentage shall be 9.7%. For fiscal year 2020, | ||||||
13 | the Annual Percentage shall be 9.5%. For fiscal year 2021, | ||||||
14 | the Annual Percentage shall be 9%. For all other
fiscal | ||||||
15 | years, the
Annual Percentage shall be calculated as a | ||||||
16 | fraction, the numerator of which
shall be the amount of | ||||||
17 | refunds approved for payment by the Department during
the | ||||||
18 | preceding fiscal year as a result of overpayment of tax | ||||||
19 | liability under
subsections (a) and (b)(1), (2), and (3) | ||||||
20 | of Section 201 of this Act plus the
amount of such refunds | ||||||
21 | remaining approved but unpaid at the end of the
preceding | ||||||
22 | fiscal year, minus the amounts transferred into the Income | ||||||
23 | Tax
Refund Fund from the Tobacco Settlement Recovery Fund, | ||||||
24 | and
the denominator of which shall be the amounts which | ||||||
25 | will be collected pursuant
to subsections (a) and (b)(1), | ||||||
26 | (2), and (3) of Section 201 of this Act during
the |
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1 | preceding fiscal year; except that in State fiscal year | ||||||
2 | 2002, the Annual
Percentage shall in no event exceed 7.6%. | ||||||
3 | The Director of Revenue shall
certify the Annual | ||||||
4 | Percentage to the Comptroller on the last business day of
| ||||||
5 | the fiscal year immediately preceding the fiscal year for | ||||||
6 | which it is to be
effective. | ||||||
7 | (2) Beginning on January 1, 1989 and thereafter, the | ||||||
8 | Department shall
deposit a percentage of the amounts | ||||||
9 | collected pursuant to subsections (a)
and (b)(6), (7), and | ||||||
10 | (8), (c) and (d) of Section 201
of this Act into a fund in | ||||||
11 | the State treasury known as the Income Tax
Refund Fund. | ||||||
12 | Beginning
with State fiscal year 1990 and for each fiscal | ||||||
13 | year thereafter, the
percentage deposited into the Income | ||||||
14 | Tax Refund Fund during a fiscal year
shall be the Annual | ||||||
15 | Percentage. For fiscal year 2011, the Annual Percentage | ||||||
16 | shall be 17.5%. For fiscal year 2012, the Annual | ||||||
17 | Percentage shall be 17.5%. For fiscal year 2013, the | ||||||
18 | Annual Percentage shall be 14%. For fiscal year 2014, the | ||||||
19 | Annual Percentage shall be 13.4%. For fiscal year 2015, | ||||||
20 | the Annual Percentage shall be 14%. For fiscal year 2018, | ||||||
21 | the Annual Percentage shall be 17.5%. For fiscal year | ||||||
22 | 2019, the Annual Percentage shall be 15.5%. For fiscal | ||||||
23 | year 2020, the Annual Percentage shall be 14.25%. For | ||||||
24 | fiscal year 2021, the Annual Percentage shall be 14%. For | ||||||
25 | all other fiscal years, the Annual
Percentage shall be | ||||||
26 | calculated
as a fraction, the numerator of which shall be |
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1 | the amount of refunds
approved for payment by the | ||||||
2 | Department during the preceding fiscal year as
a result of | ||||||
3 | overpayment of tax liability under subsections (a) and | ||||||
4 | (b)(6),
(7), and (8), (c) and (d) of Section 201 of this | ||||||
5 | Act plus the
amount of such refunds remaining approved but | ||||||
6 | unpaid at the end of the
preceding fiscal year, and the | ||||||
7 | denominator of
which shall be the amounts which will be | ||||||
8 | collected pursuant to subsections (a)
and (b)(6), (7), and | ||||||
9 | (8), (c) and (d) of Section 201 of this Act during the
| ||||||
10 | preceding fiscal year; except that in State fiscal year | ||||||
11 | 2002, the Annual
Percentage shall in no event exceed 23%. | ||||||
12 | The Director of Revenue shall
certify the Annual | ||||||
13 | Percentage to the Comptroller on the last business day of
| ||||||
14 | the fiscal year immediately preceding the fiscal year for | ||||||
15 | which it is to be
effective. | ||||||
16 | (3) The Comptroller shall order transferred and the | ||||||
17 | Treasurer shall
transfer from the Tobacco Settlement | ||||||
18 | Recovery Fund to the Income Tax Refund
Fund (i) | ||||||
19 | $35,000,000 in January, 2001, (ii) $35,000,000 in January, | ||||||
20 | 2002, and
(iii) $35,000,000 in January, 2003. | ||||||
21 | (d) Expenditures from Income Tax Refund Fund. | ||||||
22 | (1) Beginning January 1, 1989, money in the Income Tax | ||||||
23 | Refund Fund
shall be expended exclusively for the purpose | ||||||
24 | of paying refunds resulting
from overpayment of tax | ||||||
25 | liability under Section 201 of this Act
and for
making | ||||||
26 | transfers pursuant to this subsection (d). |
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1 | (2) The Director shall order payment of refunds | ||||||
2 | resulting from
overpayment of tax liability under Section | ||||||
3 | 201 of this Act from the
Income Tax Refund Fund only to the | ||||||
4 | extent that amounts collected pursuant
to Section 201 of | ||||||
5 | this Act and transfers pursuant to this subsection (d)
and | ||||||
6 | item (3) of subsection (c) have been deposited and | ||||||
7 | retained in the
Fund. | ||||||
8 | (3) As soon as possible after the end of each fiscal | ||||||
9 | year, the Director
shall
order transferred and the State | ||||||
10 | Treasurer and State Comptroller shall
transfer from the | ||||||
11 | Income Tax Refund Fund to the Personal Property Tax
| ||||||
12 | Replacement Fund an amount, certified by the Director to | ||||||
13 | the Comptroller,
equal to the excess of the amount | ||||||
14 | collected pursuant to subsections (c) and
(d) of Section | ||||||
15 | 201 of this Act deposited into the Income Tax Refund Fund
| ||||||
16 | during the fiscal year over the amount of refunds | ||||||
17 | resulting from
overpayment of tax liability under | ||||||
18 | subsections (c) and (d) of Section 201
of this Act paid | ||||||
19 | from the Income Tax Refund Fund during the fiscal year. | ||||||
20 | (4) As soon as possible after the end of each fiscal | ||||||
21 | year, the Director shall
order transferred and the State | ||||||
22 | Treasurer and State Comptroller shall
transfer from the | ||||||
23 | Personal Property Tax Replacement Fund to the Income Tax
| ||||||
24 | Refund Fund an amount, certified by the Director to the | ||||||
25 | Comptroller, equal
to the excess of the amount of refunds | ||||||
26 | resulting from overpayment of tax
liability under |
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1 | subsections (c) and (d) of Section 201 of this Act paid
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2 | from the Income Tax Refund Fund during the fiscal year | ||||||
3 | over the amount
collected pursuant to subsections (c) and | ||||||
4 | (d) of Section 201 of this Act
deposited into the Income | ||||||
5 | Tax Refund Fund during the fiscal year. | ||||||
6 | (4.5) As soon as possible after the end of fiscal year | ||||||
7 | 1999 and of each
fiscal year
thereafter, the Director | ||||||
8 | shall order transferred and the State Treasurer and
State | ||||||
9 | Comptroller shall transfer from the Income Tax Refund Fund | ||||||
10 | to the General
Revenue Fund any surplus remaining in the | ||||||
11 | Income Tax Refund Fund as of the end
of such fiscal year; | ||||||
12 | excluding for fiscal years 2000, 2001, and 2002
amounts | ||||||
13 | attributable to transfers under item (3) of subsection (c) | ||||||
14 | less refunds
resulting from the earned income tax credit. | ||||||
15 | (5) This Act shall constitute an irrevocable and | ||||||
16 | continuing
appropriation from the Income Tax Refund Fund | ||||||
17 | for the purpose of paying
refunds upon the order of the | ||||||
18 | Director in accordance with the provisions of
this | ||||||
19 | Section. | ||||||
20 | (e) Deposits into the Education Assistance Fund and the | ||||||
21 | Income Tax
Surcharge Local Government Distributive Fund. On | ||||||
22 | July 1, 1991, and thereafter, of the amounts collected | ||||||
23 | pursuant to
subsections (a) and (b) of Section 201 of this Act, | ||||||
24 | minus deposits into the
Income Tax Refund Fund, the Department | ||||||
25 | shall deposit 7.3% into the
Education Assistance Fund in the | ||||||
26 | State Treasury. Beginning July 1, 1991,
and continuing through |
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1 | January 31, 1993, of the amounts collected pursuant to
| ||||||
2 | subsections (a) and (b) of Section 201 of the Illinois Income | ||||||
3 | Tax Act, minus
deposits into the Income Tax Refund Fund, the | ||||||
4 | Department shall deposit 3.0%
into the Income Tax Surcharge | ||||||
5 | Local Government Distributive Fund in the State
Treasury. | ||||||
6 | Beginning February 1, 1993 and continuing through June 30, | ||||||
7 | 1993, of
the amounts collected pursuant to subsections (a) and | ||||||
8 | (b) of Section 201 of the
Illinois Income Tax Act, minus | ||||||
9 | deposits into the Income Tax Refund Fund, the
Department shall | ||||||
10 | deposit 4.4% into the Income Tax Surcharge Local Government
| ||||||
11 | Distributive Fund in the State Treasury. Beginning July 1, | ||||||
12 | 1993, and
continuing through June 30, 1994, of the amounts | ||||||
13 | collected under subsections
(a) and (b) of Section 201 of this | ||||||
14 | Act, minus deposits into the Income Tax
Refund Fund, the | ||||||
15 | Department shall deposit 1.475% into the Income Tax Surcharge
| ||||||
16 | Local Government Distributive Fund in the State Treasury. | ||||||
17 | (f) Deposits into the Fund for the Advancement of | ||||||
18 | Education. Beginning February 1, 2015, the Department shall | ||||||
19 | deposit the following portions of the revenue realized from | ||||||
20 | the tax imposed upon individuals, trusts, and estates by | ||||||
21 | subsections (a) and (b) of Section 201 of this Act, minus | ||||||
22 | deposits into the Income Tax Refund Fund, into the Fund for the | ||||||
23 | Advancement of Education: | ||||||
24 | (1) beginning February 1, 2015, and prior to February | ||||||
25 | 1, 2025, 1/30; and | ||||||
26 | (2) beginning February 1, 2025, 1/26. |
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1 | If the rate of tax imposed by subsection (a) and (b) of | ||||||
2 | Section 201 is reduced pursuant to Section 201.5 of this Act, | ||||||
3 | the Department shall not make the deposits required by this | ||||||
4 | subsection (f) on or after the effective date of the | ||||||
5 | reduction. | ||||||
6 | (g) Deposits into the Commitment to Human Services Fund. | ||||||
7 | Beginning February 1, 2015, the Department shall deposit the | ||||||
8 | following portions of the revenue realized from the tax | ||||||
9 | imposed upon individuals, trusts, and estates by subsections | ||||||
10 | (a) and (b) of Section 201 of this Act, minus deposits into the | ||||||
11 | Income Tax Refund Fund, into the Commitment to Human Services | ||||||
12 | Fund: | ||||||
13 | (1) beginning February 1, 2015, and prior to February | ||||||
14 | 1, 2025, 1/30; and | ||||||
15 | (2) beginning February 1, 2025, 1/26. | ||||||
16 | If the rate of tax imposed by subsection (a) and (b) of | ||||||
17 | Section 201 is reduced pursuant to Section 201.5 of this Act, | ||||||
18 | the Department shall not make the deposits required by this | ||||||
19 | subsection (g) on or after the effective date of the | ||||||
20 | reduction. | ||||||
21 | (h) Deposits into the Tax Compliance and Administration | ||||||
22 | Fund. Beginning on the first day of the first calendar month to | ||||||
23 | occur on or after August 26, 2014 (the effective date of Public | ||||||
24 | Act 98-1098), each month the Department shall pay into the Tax | ||||||
25 | Compliance and Administration Fund, to be used, subject to | ||||||
26 | appropriation, to fund additional auditors and compliance |
| |||||||
| |||||||
1 | personnel at the Department, an amount equal to 1/12 of 5% of | ||||||
2 | the cash receipts collected during the preceding fiscal year | ||||||
3 | by the Audit Bureau of the Department from the tax imposed by | ||||||
4 | subsections (a), (b), (c), and (d) of Section 201 of this Act, | ||||||
5 | net of deposits into the Income Tax Refund Fund made from those | ||||||
6 | cash receipts. | ||||||
7 | (Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17; | ||||||
8 | 100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff. | ||||||
9 | 8-14-18; 100-1171, eff. 1-4-19; 101-10, eff. 6-5-19; 101-81, | ||||||
10 | eff. 7-12-19; 101-636, eff. 6-10-20.) | ||||||
11 | (Text of Section with the changes made by P.A. 101-8, | ||||||
12 | which did not take effect (see Section 99 of P.A. 101-8))
| ||||||
13 | Sec. 901. Collection authority. | ||||||
14 | (a) In general. The Department shall collect the taxes | ||||||
15 | imposed by this Act. The Department
shall collect certified | ||||||
16 | past due child support amounts under Section 2505-650
of the | ||||||
17 | Department of Revenue Law of the
Civil Administrative Code of | ||||||
18 | Illinois. Except as
provided in subsections (b), (c), (e), | ||||||
19 | (f), (g), and (h) of this Section, money collected
pursuant to | ||||||
20 | subsections (a) and (b) of Section 201 of this Act shall be
| ||||||
21 | paid into the General Revenue Fund in the State treasury; | ||||||
22 | money
collected pursuant to subsections (c) and (d) of Section | ||||||
23 | 201 of this Act
shall be paid into the Personal Property Tax | ||||||
24 | Replacement Fund, a special
fund in the State Treasury; and | ||||||
25 | money collected under Section 2505-650 of the
Department of |
| |||||||
| |||||||
1 | Revenue Law of the
Civil Administrative Code of Illinois shall | ||||||
2 | be paid
into the
Child Support Enforcement Trust Fund, a | ||||||
3 | special fund outside the State
Treasury, or
to the State
| ||||||
4 | Disbursement Unit established under Section 10-26 of the | ||||||
5 | Illinois Public Aid
Code, as directed by the Department of | ||||||
6 | Healthcare and Family Services. | ||||||
7 | (b) Local Government Distributive Fund. Beginning August | ||||||
8 | 1, 2017 and continuing through January 31, 2022 and continuing | ||||||
9 | through January 31, 2021 , the Treasurer shall transfer each | ||||||
10 | month from the General Revenue Fund to the Local Government | ||||||
11 | Distributive Fund an amount equal to the sum of (i) 6.06% (10% | ||||||
12 | of the ratio of the 3% individual income tax rate prior to 2011 | ||||||
13 | to the 4.95% individual income tax rate after July 1, 2017) of | ||||||
14 | the net revenue realized from the tax imposed by subsections | ||||||
15 | (a) and (b) of Section 201 of this Act upon individuals, | ||||||
16 | trusts, and estates during the preceding month and (ii) 6.85% | ||||||
17 | (10% of the ratio of the 4.8% corporate income tax rate prior | ||||||
18 | to 2011 to the 7% corporate income tax rate after July 1, 2017) | ||||||
19 | of the net revenue realized from the tax imposed by | ||||||
20 | subsections (a) and (b) of Section 201 of this Act upon | ||||||
21 | corporations during the preceding month. Beginning February 1, | ||||||
22 | 2022 and continuing through January 31, 2023, the Treasurer | ||||||
23 | shall transfer each month from the General Revenue Fund to the | ||||||
24 | Local Government Distributive Fund an amount equal to the sum | ||||||
25 | of (i) 8.5% of the net revenue realized from the tax imposed by | ||||||
26 | subsections (a) and (b) of Section 201 of this Act upon |
| |||||||
| |||||||
1 | individuals, trusts, and estates during the preceding month | ||||||
2 | and (ii) 9.355% of the net revenue realized from the tax | ||||||
3 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
4 | upon corporations during the preceding month. Beginning | ||||||
5 | February 1, 2023 and continuing through January 31, 2024, the | ||||||
6 | Treasurer shall transfer each month from the General Revenue | ||||||
7 | Fund to the Local Government Distributive Fund an amount equal | ||||||
8 | to the sum of (i) 9% of the net revenue realized from the tax | ||||||
9 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
10 | upon individuals, trusts, and estates during the preceding | ||||||
11 | month and (ii) 9.57% of the net revenue realized from the tax | ||||||
12 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
13 | upon corporations during the preceding month. Beginning | ||||||
14 | February 1, 2024 and continuing through January 31, 2025, the | ||||||
15 | Treasurer shall transfer each month from the General Revenue | ||||||
16 | Fund to the Local Government Distributive Fund an amount equal | ||||||
17 | to the sum of (i) 9.5% of the net revenue realized from the tax | ||||||
18 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
19 | upon individuals, trusts, and estates during the preceding | ||||||
20 | month and (ii) 9.785% of the net revenue realized from the tax | ||||||
21 | imposed by subsections (a) and (b) of Section 201 of this Act | ||||||
22 | upon corporations during the preceding month. Beginning on | ||||||
23 | February 1, 2025, the Treasurer shall transfer each month from | ||||||
24 | the General Revenue Fund to the Local Government Distributive | ||||||
25 | Fund an amount equal to 10% of the net revenue realized from | ||||||
26 | the
tax imposed on individuals, trusts, estates, and |
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1 | corporations by
subsections (a) and (b) of Section 201 of the | ||||||
2 | Illinois Income Tax Act during
the preceding month. Beginning | ||||||
3 | February 1, 2021, the Treasurer shall transfer each month from | ||||||
4 | the General Revenue Fund to the Local Government Distributive | ||||||
5 | Fund an amount equal to the sum of (i) 5.32% of the net revenue | ||||||
6 | realized from the tax imposed by subsections (a) and (b) of | ||||||
7 | Section 201 of this Act upon individuals, trusts, and estates | ||||||
8 | during the preceding month and (ii) 6.16% of the net revenue | ||||||
9 | realized from the tax imposed by subsections (a) and (b) of | ||||||
10 | Section 201 of this Act upon corporations during the preceding | ||||||
11 | month. Net revenue realized for a month shall be defined as the
| ||||||
12 | revenue from the tax imposed by subsections (a) and (b) of | ||||||
13 | Section 201 of this
Act which is deposited in the General | ||||||
14 | Revenue Fund, the Education Assistance
Fund, the Income Tax | ||||||
15 | Surcharge Local Government Distributive Fund, the Fund for the | ||||||
16 | Advancement of Education, and the Commitment to Human Services | ||||||
17 | Fund during the
month minus the amount paid out of the General | ||||||
18 | Revenue Fund in State warrants
during that same month as | ||||||
19 | refunds to taxpayers for overpayment of liability
under the | ||||||
20 | tax imposed by subsections (a) and (b) of Section 201 of this | ||||||
21 | Act. | ||||||
22 | Notwithstanding any provision of law to the contrary, | ||||||
23 | beginning on July 6, 2017 (the effective date of Public Act | ||||||
24 | 100-23), those amounts required under this subsection (b) to | ||||||
25 | be transferred by the Treasurer into the Local Government | ||||||
26 | Distributive Fund from the General Revenue Fund shall be |
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1 | directly deposited into the Local Government Distributive Fund | ||||||
2 | as the revenue is realized from the tax imposed by subsections | ||||||
3 | (a) and (b) of Section 201 of this Act. | ||||||
4 | For State fiscal year 2020 only, notwithstanding any | ||||||
5 | provision of law to the contrary, the total amount of revenue | ||||||
6 | and deposits under this Section attributable to revenues | ||||||
7 | realized during State fiscal year 2020 shall be reduced by 5%. | ||||||
8 | (c) Deposits Into Income Tax Refund Fund. | ||||||
9 | (1) Beginning on January 1, 1989 and thereafter, the | ||||||
10 | Department shall
deposit a percentage of the amounts | ||||||
11 | collected pursuant to subsections (a)
and (b)(1), (2), and | ||||||
12 | (3) of Section 201 of this Act into a fund in the State
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13 | treasury known as the Income Tax Refund Fund. Beginning | ||||||
14 | with State fiscal year 1990 and for each fiscal year
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15 | thereafter, the percentage deposited into the Income Tax | ||||||
16 | Refund Fund during a
fiscal year shall be the Annual | ||||||
17 | Percentage. For fiscal year 2011, the Annual Percentage | ||||||
18 | shall be 8.75%. For fiscal year 2012, the Annual | ||||||
19 | Percentage shall be 8.75%. For fiscal year 2013, the | ||||||
20 | Annual Percentage shall be 9.75%. For fiscal year 2014, | ||||||
21 | the Annual Percentage shall be 9.5%. For fiscal year 2015, | ||||||
22 | the Annual Percentage shall be 10%. For fiscal year 2018, | ||||||
23 | the Annual Percentage shall be 9.8%. For fiscal year 2019, | ||||||
24 | the Annual Percentage shall be 9.7%. For fiscal year 2020, | ||||||
25 | the Annual Percentage shall be 9.5%. For fiscal year 2021, | ||||||
26 | the Annual Percentage shall be 9%. For all other
fiscal |
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1 | years, the
Annual Percentage shall be calculated as a | ||||||
2 | fraction, the numerator of which
shall be the amount of | ||||||
3 | refunds approved for payment by the Department during
the | ||||||
4 | preceding fiscal year as a result of overpayment of tax | ||||||
5 | liability under
subsections (a) and (b)(1), (2), and (3) | ||||||
6 | of Section 201 of this Act plus the
amount of such refunds | ||||||
7 | remaining approved but unpaid at the end of the
preceding | ||||||
8 | fiscal year, minus the amounts transferred into the Income | ||||||
9 | Tax
Refund Fund from the Tobacco Settlement Recovery Fund, | ||||||
10 | and
the denominator of which shall be the amounts which | ||||||
11 | will be collected pursuant
to subsections (a) and (b)(1), | ||||||
12 | (2), and (3) of Section 201 of this Act during
the | ||||||
13 | preceding fiscal year; except that in State fiscal year | ||||||
14 | 2002, the Annual
Percentage shall in no event exceed 7.6%. | ||||||
15 | The Director of Revenue shall
certify the Annual | ||||||
16 | Percentage to the Comptroller on the last business day of
| ||||||
17 | the fiscal year immediately preceding the fiscal year for | ||||||
18 | which it is to be
effective. | ||||||
19 | (2) Beginning on January 1, 1989 and thereafter, the | ||||||
20 | Department shall
deposit a percentage of the amounts | ||||||
21 | collected pursuant to subsections (a)
and (b)(6), (7), and | ||||||
22 | (8), (c) and (d) of Section 201
of this Act into a fund in | ||||||
23 | the State treasury known as the Income Tax
Refund Fund. | ||||||
24 | Beginning
with State fiscal year 1990 and for each fiscal | ||||||
25 | year thereafter, the
percentage deposited into the Income | ||||||
26 | Tax Refund Fund during a fiscal year
shall be the Annual |
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1 | Percentage. For fiscal year 2011, the Annual Percentage | ||||||
2 | shall be 17.5%. For fiscal year 2012, the Annual | ||||||
3 | Percentage shall be 17.5%. For fiscal year 2013, the | ||||||
4 | Annual Percentage shall be 14%. For fiscal year 2014, the | ||||||
5 | Annual Percentage shall be 13.4%. For fiscal year 2015, | ||||||
6 | the Annual Percentage shall be 14%. For fiscal year 2018, | ||||||
7 | the Annual Percentage shall be 17.5%. For fiscal year | ||||||
8 | 2019, the Annual Percentage shall be 15.5%. For fiscal | ||||||
9 | year 2020, the Annual Percentage shall be 14.25%. For | ||||||
10 | fiscal year 2021, the Annual Percentage shall be 14%. For | ||||||
11 | all other fiscal years, the Annual
Percentage shall be | ||||||
12 | calculated
as a fraction, the numerator of which shall be | ||||||
13 | the amount of refunds
approved for payment by the | ||||||
14 | Department during the preceding fiscal year as
a result of | ||||||
15 | overpayment of tax liability under subsections (a) and | ||||||
16 | (b)(6),
(7), and (8), (c) and (d) of Section 201 of this | ||||||
17 | Act plus the
amount of such refunds remaining approved but | ||||||
18 | unpaid at the end of the
preceding fiscal year, and the | ||||||
19 | denominator of
which shall be the amounts which will be | ||||||
20 | collected pursuant to subsections (a)
and (b)(6), (7), and | ||||||
21 | (8), (c) and (d) of Section 201 of this Act during the
| ||||||
22 | preceding fiscal year; except that in State fiscal year | ||||||
23 | 2002, the Annual
Percentage shall in no event exceed 23%. | ||||||
24 | The Director of Revenue shall
certify the Annual | ||||||
25 | Percentage to the Comptroller on the last business day of
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26 | the fiscal year immediately preceding the fiscal year for |
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1 | which it is to be
effective. | ||||||
2 | (3) The Comptroller shall order transferred and the | ||||||
3 | Treasurer shall
transfer from the Tobacco Settlement | ||||||
4 | Recovery Fund to the Income Tax Refund
Fund (i) | ||||||
5 | $35,000,000 in January, 2001, (ii) $35,000,000 in January, | ||||||
6 | 2002, and
(iii) $35,000,000 in January, 2003. | ||||||
7 | (d) Expenditures from Income Tax Refund Fund. | ||||||
8 | (1) Beginning January 1, 1989, money in the Income Tax | ||||||
9 | Refund Fund
shall be expended exclusively for the purpose | ||||||
10 | of paying refunds resulting
from overpayment of tax | ||||||
11 | liability under Section 201 of this Act
and for
making | ||||||
12 | transfers pursuant to this subsection (d). | ||||||
13 | (2) The Director shall order payment of refunds | ||||||
14 | resulting from
overpayment of tax liability under Section | ||||||
15 | 201 of this Act from the
Income Tax Refund Fund only to the | ||||||
16 | extent that amounts collected pursuant
to Section 201 of | ||||||
17 | this Act and transfers pursuant to this subsection (d)
and | ||||||
18 | item (3) of subsection (c) have been deposited and | ||||||
19 | retained in the
Fund. | ||||||
20 | (3) As soon as possible after the end of each fiscal | ||||||
21 | year, the Director
shall
order transferred and the State | ||||||
22 | Treasurer and State Comptroller shall
transfer from the | ||||||
23 | Income Tax Refund Fund to the Personal Property Tax
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24 | Replacement Fund an amount, certified by the Director to | ||||||
25 | the Comptroller,
equal to the excess of the amount | ||||||
26 | collected pursuant to subsections (c) and
(d) of Section |
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1 | 201 of this Act deposited into the Income Tax Refund Fund
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2 | during the fiscal year over the amount of refunds | ||||||
3 | resulting from
overpayment of tax liability under | ||||||
4 | subsections (c) and (d) of Section 201
of this Act paid | ||||||
5 | from the Income Tax Refund Fund during the fiscal year. | ||||||
6 | (4) As soon as possible after the end of each fiscal | ||||||
7 | year, the Director shall
order transferred and the State | ||||||
8 | Treasurer and State Comptroller shall
transfer from the | ||||||
9 | Personal Property Tax Replacement Fund to the Income Tax
| ||||||
10 | Refund Fund an amount, certified by the Director to the | ||||||
11 | Comptroller, equal
to the excess of the amount of refunds | ||||||
12 | resulting from overpayment of tax
liability under | ||||||
13 | subsections (c) and (d) of Section 201 of this Act paid
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14 | from the Income Tax Refund Fund during the fiscal year | ||||||
15 | over the amount
collected pursuant to subsections (c) and | ||||||
16 | (d) of Section 201 of this Act
deposited into the Income | ||||||
17 | Tax Refund Fund during the fiscal year. | ||||||
18 | (4.5) As soon as possible after the end of fiscal year | ||||||
19 | 1999 and of each
fiscal year
thereafter, the Director | ||||||
20 | shall order transferred and the State Treasurer and
State | ||||||
21 | Comptroller shall transfer from the Income Tax Refund Fund | ||||||
22 | to the General
Revenue Fund any surplus remaining in the | ||||||
23 | Income Tax Refund Fund as of the end
of such fiscal year; | ||||||
24 | excluding for fiscal years 2000, 2001, and 2002
amounts | ||||||
25 | attributable to transfers under item (3) of subsection (c) | ||||||
26 | less refunds
resulting from the earned income tax credit. |
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1 | (5) This Act shall constitute an irrevocable and | ||||||
2 | continuing
appropriation from the Income Tax Refund Fund | ||||||
3 | for the purpose of paying
refunds upon the order of the | ||||||
4 | Director in accordance with the provisions of
this | ||||||
5 | Section. | ||||||
6 | (e) Deposits into the Education Assistance Fund and the | ||||||
7 | Income Tax
Surcharge Local Government Distributive Fund. On | ||||||
8 | July 1, 1991, and thereafter, of the amounts collected | ||||||
9 | pursuant to
subsections (a) and (b) of Section 201 of this Act, | ||||||
10 | minus deposits into the
Income Tax Refund Fund, the Department | ||||||
11 | shall deposit 7.3% into the
Education Assistance Fund in the | ||||||
12 | State Treasury. Beginning July 1, 1991,
and continuing through | ||||||
13 | January 31, 1993, of the amounts collected pursuant to
| ||||||
14 | subsections (a) and (b) of Section 201 of the Illinois Income | ||||||
15 | Tax Act, minus
deposits into the Income Tax Refund Fund, the | ||||||
16 | Department shall deposit 3.0%
into the Income Tax Surcharge | ||||||
17 | Local Government Distributive Fund in the State
Treasury. | ||||||
18 | Beginning February 1, 1993 and continuing through June 30, | ||||||
19 | 1993, of
the amounts collected pursuant to subsections (a) and | ||||||
20 | (b) of Section 201 of the
Illinois Income Tax Act, minus | ||||||
21 | deposits into the Income Tax Refund Fund, the
Department shall | ||||||
22 | deposit 4.4% into the Income Tax Surcharge Local Government
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23 | Distributive Fund in the State Treasury. Beginning July 1, | ||||||
24 | 1993, and
continuing through June 30, 1994, of the amounts | ||||||
25 | collected under subsections
(a) and (b) of Section 201 of this | ||||||
26 | Act, minus deposits into the Income Tax
Refund Fund, the |
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1 | Department shall deposit 1.475% into the Income Tax Surcharge
| ||||||
2 | Local Government Distributive Fund in the State Treasury. | ||||||
3 | (f) Deposits into the Fund for the Advancement of | ||||||
4 | Education. Beginning February 1, 2015, the Department shall | ||||||
5 | deposit the following portions of the revenue realized from | ||||||
6 | the tax imposed upon individuals, trusts, and estates by | ||||||
7 | subsections (a) and (b) of Section 201 of this Act, minus | ||||||
8 | deposits into the Income Tax Refund Fund, into the Fund for the | ||||||
9 | Advancement of Education: | ||||||
10 | (1) beginning February 1, 2015, and prior to February | ||||||
11 | 1, 2025, 1/30; and | ||||||
12 | (2) beginning February 1, 2025, 1/26. | ||||||
13 | If the rate of tax imposed by subsection (a) and (b) of | ||||||
14 | Section 201 is reduced pursuant to Section 201.5 of this Act, | ||||||
15 | the Department shall not make the deposits required by this | ||||||
16 | subsection (f) on or after the effective date of the | ||||||
17 | reduction. | ||||||
18 | (g) Deposits into the Commitment to Human Services Fund. | ||||||
19 | Beginning February 1, 2015, the Department shall deposit the | ||||||
20 | following portions of the revenue realized from the tax | ||||||
21 | imposed upon individuals, trusts, and estates by subsections | ||||||
22 | (a) and (b) of Section 201 of this Act, minus deposits into the | ||||||
23 | Income Tax Refund Fund, into the Commitment to Human Services | ||||||
24 | Fund: | ||||||
25 | (1) beginning February 1, 2015, and prior to February | ||||||
26 | 1, 2025, 1/30; and |
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1 | (2) beginning February 1, 2025, 1/26. | ||||||
2 | If the rate of tax imposed by subsection (a) and (b) of | ||||||
3 | Section 201 is reduced pursuant to Section 201.5 of this Act, | ||||||
4 | the Department shall not make the deposits required by this | ||||||
5 | subsection (g) on or after the effective date of the | ||||||
6 | reduction. | ||||||
7 | (h) Deposits into the Tax Compliance and Administration | ||||||
8 | Fund. Beginning on the first day of the first calendar month to | ||||||
9 | occur on or after August 26, 2014 (the effective date of Public | ||||||
10 | Act 98-1098), each month the Department shall pay into the Tax | ||||||
11 | Compliance and Administration Fund, to be used, subject to | ||||||
12 | appropriation, to fund additional auditors and compliance | ||||||
13 | personnel at the Department, an amount equal to 1/12 of 5% of | ||||||
14 | the cash receipts collected during the preceding fiscal year | ||||||
15 | by the Audit Bureau of the Department from the tax imposed by | ||||||
16 | subsections (a), (b), (c), and (d) of Section 201 of this Act, | ||||||
17 | net of deposits into the Income Tax Refund Fund made from those | ||||||
18 | cash receipts. | ||||||
19 | (Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17; | ||||||
20 | 100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff. | ||||||
21 | 8-14-18; 100-1171, eff. 1-4-19; 101-8, see Section 99 for | ||||||
22 | effective date; 101-10, eff. 6-5-19; 101-81, eff. 7-12-19; | ||||||
23 | 101-636, eff. 6-10-20 .)
| ||||||
24 | Section 99. Effective date. This Act takes effect upon | ||||||
25 | becoming law.
|