Illinois General Assembly - Bill Status for HB3750

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Bill Status of HB3750 98th General Assembly

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Short Description: INC TX-LOCAL GOV DISTRIBUTIVE

House Sponsors
Rep. Anthony DeLuca - Carol A. Sente

Last Action

Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

30 ILCS 115/1

from Ch. 85, par. 611

35 ILCS 5/901

from Ch. 120, par. 9-901

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, beginning on February 1, 2015, the Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 10% of the net revenue realized from the tax imposed under the Act during the preceding month (instead of: (i) beginning on February 1, 2015 and through January 31, 2025, an amount equal to the sum of 8% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 9.14% of the net revenue realized from the tax imposed on corporations; and (ii) beginning on February 1, 2025, an amount equal to the sum of 9.23% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 10% of the net revenue realized from the tax imposed on corporations).

Actions

Date	Chamber	Action
11/7/2013	House	Filed with the Clerk by Rep. Anthony DeLuca
11/7/2013	House	First Reading
11/7/2013	House	Referred to Rules Committee
3/26/2014	House	Added Chief Co-Sponsor Rep. Carol A. Sente
12/3/2014	House	Session Sine Die

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