Synopsis As Introduced Creates the FY2009 Budget Implementation Act. Provides that the purpose of the Act is to make the changes in State programs that are necessary to implement the FY2009 budget. Effective immediately.
Replaces everything after the enacting clause. Amends the Illinois Income Tax Act. Restores a deduction allowed for personal services income of a partnership and certain compensation paid to partners (now, the deduction is available only for taxable years ending before December 31, 2009). Makes changes to a corresponding addition modification. Effective immediately.