Illinois General Assembly - Bill Status for HB0750
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 Bill Status of HB0750  94th General Assembly

Short Description:  PROP TX-SCHOOL DIST

House Sponsors
Rep. David E. Miller - John A. Fritchey - William Davis - Karen A. Yarbrough, Robin Kelly, Deborah L. Graham, Marlow H. Colvin and Annazette Collins

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 105/5.640 new
30 ILCS 105/6z-68 new
35 ILCS 5/201from Ch. 120, par. 2-201
35 ILCS 5/203from Ch. 120, par. 2-203
35 ILCS 5/247 new
35 ILCS 105/2from Ch. 120, par. 439.2
35 ILCS 105/3-50 rep.from Ch. 120, par. 439.3-50
35 ILCS 110/2from Ch. 120, par. 439.32
35 ILCS 115/2from Ch. 120, par. 439.102
35 ILCS 120/1from Ch. 120, par. 440
35 ILCS 120/2-5from Ch. 120, par. 441-5
35 ILCS 120/1d rep.from Ch. 120, par. 440d
35 ILCS 120/1f rep.from Ch. 120, par. 440f
35 ILCS 200/18-178 new
35 ILCS 200/18-255
35 ILCS 200/20-15
35 ILCS 200/21-30
35 ILCS 505/2bfrom Ch. 120, par. 418b
105 ILCS 5/18-8.05
105 ILCS 5/18-8.15 new
105 ILCS 5/18-25 new

Synopsis As Introduced
Amends the State Finance Act. Creates the School District Property Tax Relief Fund. Requires the General Assembly, in FY06, to appropriate $2.4 billion from the education appropriation minimum to the School District Property Tax Relief Fund and to appropriate additional amounts each fiscal year thereafter. Requires the Department of Revenue to annually determine and certify the total amount of property tax relief grants that each school district will receive from the Fund. Sets forth procedures for appropriating these grants. Amends the Illinois Income Tax Act. Provides that for taxable years beginning after January 1, 2005, the rate of income tax for individuals, trusts, and estates is increased from 3% to 5% of the taxpayer's net income and the rate of income tax for corporations is increased from 4.8% to 8% of the taxpayer's net income. Includes retirement income within the definition of base income for individuals with an adjusted gross income of $75,000 or more annually. Eliminates certain exemptions for corporations located in Enterprise Zones or federally designated Foreign Trade Zones. Creates the Family Tax Credit, which is a refundable tax credit available to any natural person or married couple filing jointly that reports a total annual income of $47,000 or less. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Eliminates exemptions concerning newsprint and ink and concerning manufacturing and assembling machinery. Includes certain arts, entertainment, and recreation services within the definition of sale at retail in the Retailers' Occupation Tax Act. Amends the Property Tax Code. Requires the county clerk to abate the extension for educational purposes for each school district in the county by the amount of the property tax relief grants received by each of those school districts. Amends the Motor Fuel Tax Law. Deletes provisions concerning discounts for timely filing and paying the taxes. Amends the School Code. In the State aid formula provisions, increases the foundation level of support and grant amount for supplemental general State aid. Provides for an education appropriation minimum and supplemental State aid for rapidly expanding school districts.

DateChamber Action
  2/2/2005HouseFiled with the Clerk by Rep. David E. Miller
  2/2/2005HouseFirst Reading
  2/2/2005HouseReferred to Rules Committee
  2/3/2005HouseAdded Chief Co-Sponsor Rep. John A. Fritchey
  2/8/2005HouseAssigned to Executive Committee
  3/8/2005HouseAdded Chief Co-Sponsor Rep. William Davis
  3/10/2005HouseRule 19(a) / Re-referred to Rules Committee
  5/12/2005HouseAdded Co-Sponsor Rep. Robin Kelly
  5/12/2005HouseAdded Co-Sponsor Rep. Deborah L. Graham
  5/12/2005HouseAdded Co-Sponsor Rep. Marlow H. Colvin
  5/12/2005HouseAdded Co-Sponsor Rep. Annazette Collins
  2/16/2006HouseAdded Chief Co-Sponsor Rep. Karen A. Yarbrough
  1/9/2007HouseSession Sine Die

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