Sen. James T. Meeks

Filed: 5/8/2008

 

 


 

 


 
09500SB2288sam001 LRB095 19753 RCE 50704 a

1
AMENDMENT TO SENATE BILL 2288

2     AMENDMENT NO. ______. Amend Senate Bill 2288 by inserting
3 the following in its proper numeric sequence:
 
4     "Section 6.5. The State Finance Act is amended by adding
5 Section 5.720 as follows:
 
6     (30 ILCS 105/5.720 new)
7     Sec. 5.720. The Supplemental Local Government Distributive
8 Fund.
 
9     Section 6.6. The State Revenue Sharing Act is amended by
10 changing Section 2 and by adding Section 1b as follows:
 
11     (30 ILCS 115/1b new)
12     Sec. 1b. Supplemental Local Government Distributive Fund.
13 Beginning on July 1, 2008, as soon as may be after the first
14 day of each month, the Department of Revenue shall certify to

 

 

09500SB2288sam001 - 2 - LRB095 19753 RCE 50704 a

1 the State Treasurer an amount equal to one-tenth of the net
2 revenue realized from the tax imposed by subsections (a) and
3 (b) of Section 201 of the Illinois Income Tax Act during the
4 preceding month. Net revenue realized for a month is defined as
5 the revenue from the tax imposed by subsections (a) and (b) of
6 Section 201 of the Illinois Income Tax Act that is deposited in
7 the General Revenue Fund, the Education Assistance Fund, the
8 Local Government Distributive Fund, and the Income Tax
9 Surcharge Local Government Distributive Fund during the month
10 minus the amount paid out of the General Revenue Fund in State
11 warrants during that same month as refunds to taxpayers for
12 overpayment of liability under the tax imposed by subsections
13 (a) and (b) of Section 201 of the Illinois Income Tax Act. Upon
14 receipt of the certification, the Treasurer shall transfer from
15 the General Revenue Fund to a special fund in the State
16 treasury, to be known as the "Supplemental Local Government
17 Distributive Fund", the amount shown on the certification;
18 however, those transfers shall not exceed $16,666,666 per
19 month.
 
20     (30 ILCS 115/2)  (from Ch. 85, par. 612)
21     Sec. 2. Allocation and Disbursement. As soon as may be
22 after the first day of each month, the Department of Revenue
23 shall allocate among the several municipalities and counties of
24 this State the amount available in the Local Government
25 Distributive Fund, the Supplemental Local Government

 

 

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1 Distributive Fund, and in the Income Tax Surcharge Local
2 Government Distributive Fund, determined as provided in
3 Sections 1, and 1a, and 1b of this Act above. Except as
4 provided in Sections 13 and 13.1 of this Act, the Department
5 shall then certify such allocations to the State Comptroller,
6 who shall pay over to the several municipalities and counties
7 the respective amounts allocated to them. The amount of such
8 Funds allocable to each such municipality and county shall be
9 in proportion to the number of individual residents of such
10 municipality or county to the total population of the State,
11 determined in each case on the basis of the latest census of
12 the State, municipality or county conducted by the Federal
13 government and certified by the Secretary of State and for
14 annexations to municipalities, the latest Federal, State or
15 municipal census of the annexed area which has been certified
16 by the Department of Revenue. Allocations to the City of
17 Chicago under this Section are subject to Section 6 of the
18 Hotel Operators' Occupation Tax Act. For the purpose of this
19 Section, the number of individual residents of a county shall
20 be reduced by the number of individuals residing therein in
21 municipalities, but the number of individual residents of the
22 State, county and municipality shall reflect the latest census
23 of any of them. The amounts transferred into the Local
24 Government Distributive Fund pursuant to Section 9 of the Use
25 Tax Act, Section 9 of the Service Use Tax Act, Section 9 of the
26 Service Occupation Tax Act, and Section 3 of the Retailers'

 

 

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1 Occupation Tax Act, each as now or hereafter amended, pursuant
2 to the amendments of such Sections by Public Act 85-1135, shall
3 be distributed as provided in said Sections.
4 (Source: P.A. 91-51, eff. 6-30-99; 91-935, eff. 6-1-01.)".