Illinois General Assembly - Bill Status for SB0012
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 Bill Status of SB0012  93rd General Assembly

Short Description:  INC TAX-APPORTIONMNT & DISTRIB

Senate Sponsors
Sen. Patrick Welch - Carol Ronen, Jacqueline Y. Collins and Edward D. Maloney

Last Action
DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/304from Ch. 120, par. 3-304
35 ILCS 5/901from Ch. 120, par. 9-901


Synopsis As Introduced
Amends the Illinois Income Tax Act. With respect to the apportionment of business income for persons other than residents, provides that for tax years ending on or after December 31, 2003 and before December 31, 2008 the income shall be apportioned using the property factor, payroll factor, and sales factor. Provides that for tax years ending on or after December 31, 2008, the income shall again be apportioned using the sales factor only. Provides that, beginning on January 1, 2004 and thereafter, of the amounts of income tax collected (other than personal property tax replacement income tax) from corporations, minus deposits into the Income Tax Refund Fund, the Department of Revenue shall deposit 14.6% (now, 7.3%) into the Education Assistance Fund in the State treasury. Effective immediately.

Actions 
DateChamber Action
  1/9/2003SenateFiled with Secretary by Sen. Patrick Welch
  1/9/2003SenateFirst Reading
  1/9/2003SenateReferred to Rules
  1/14/2003SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins
  1/16/2003SenateAdded as Co-Sponsor Sen. Edward D. Maloney
  4/3/2003SenateAssigned to Executive
  4/3/2003SenateRe-referred to Rules
  4/3/2003SenateApproved for Consideration Rules
  4/3/2003SenatePlaced on Calendar Order of 2nd Reading April 4, 2003
  4/3/2003SenateAdded as Chief Co-Sponsor Sen. Carol Ronen
  4/4/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to April 9, 2003.
  4/9/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to December 31, 2003.
  7/1/2003SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  1/11/2005SenateSession Sine Die

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