Illinois General Assembly - Full Text of SB0509
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Full Text of SB0509  102nd General Assembly

SB0509 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB0509

 

Introduced 2/23/2021, by Sen. Donald P. DeWitte

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/901

    Amends the Illinois Income Tax Act. Provides that an amount equal to 10% of the net revenue realized from the State income tax during the preceding month shall be transferred from the General Revenue Fund to the Local Government Distributive Fund (currently, the amount transferred is equal to the sum of (i) 6.06% of the net revenue realized from the tax imposed upon individuals, trusts, and estates and (ii) 6.85% of the net revenue realized from the tax imposed upon corporations). Effective immediately.


LRB102 04496 HLH 14515 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB0509LRB102 04496 HLH 14515 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Income Tax Act is amended by
5changing Section 901 as follows:
 
6    (35 ILCS 5/901)
7    (Text of Section without the changes made by P.A. 101-8,
8which did not take effect (see Section 99 of P.A. 101-8))
9    Sec. 901. Collection authority.
10    (a) In general. The Department shall collect the taxes
11imposed by this Act. The Department shall collect certified
12past due child support amounts under Section 2505-650 of the
13Department of Revenue Law of the Civil Administrative Code of
14Illinois. Except as provided in subsections (b), (c), (e),
15(f), (g), and (h) of this Section, money collected pursuant to
16subsections (a) and (b) of Section 201 of this Act shall be
17paid into the General Revenue Fund in the State treasury;
18money collected pursuant to subsections (c) and (d) of Section
19201 of this Act shall be paid into the Personal Property Tax
20Replacement Fund, a special fund in the State Treasury; and
21money collected under Section 2505-650 of the Department of
22Revenue Law of the Civil Administrative Code of Illinois shall
23be paid into the Child Support Enforcement Trust Fund, a

 

 

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1special fund outside the State Treasury, or to the State
2Disbursement Unit established under Section 10-26 of the
3Illinois Public Aid Code, as directed by the Department of
4Healthcare and Family Services.
5    (b) Local Government Distributive Fund. Beginning August
61, 2017 and continuing through July 31, 2021, the Treasurer
7shall transfer each month from the General Revenue Fund to the
8Local Government Distributive Fund an amount equal to the sum
9of (i) 6.06% (10% of the ratio of the 3% individual income tax
10rate prior to 2011 to the 4.95% individual income tax rate
11after July 1, 2017) of the net revenue realized from the tax
12imposed by subsections (a) and (b) of Section 201 of this Act
13upon individuals, trusts, and estates during the preceding
14month and (ii) 6.85% (10% of the ratio of the 4.8% corporate
15income tax rate prior to 2011 to the 7% corporate income tax
16rate after July 1, 2017) of the net revenue realized from the
17tax imposed by subsections (a) and (b) of Section 201 of this
18Act upon corporations during the preceding month. Beginning
19August 1, 2021, the Treasurer shall transfer each month from
20the General Revenue Fund to the Local Government Distributive
21Fund an amount equal to 10% of the net revenue realized from
22the tax imposed by subsections (a) and (b) of Section 201 of
23the Illinois Income Tax Act during the preceding month. Net
24revenue realized for a month shall be defined as the revenue
25from the tax imposed by subsections (a) and (b) of Section 201
26of this Act which is deposited in the General Revenue Fund, the

 

 

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1Education Assistance Fund, the Income Tax Surcharge Local
2Government Distributive Fund, the Fund for the Advancement of
3Education, and the Commitment to Human Services Fund during
4the month minus the amount paid out of the General Revenue Fund
5in State warrants during that same month as refunds to
6taxpayers for overpayment of liability under the tax imposed
7by subsections (a) and (b) of Section 201 of this Act.
8    Notwithstanding any provision of law to the contrary,
9beginning on July 6, 2017 (the effective date of Public Act
10100-23), those amounts required under this subsection (b) to
11be transferred by the Treasurer into the Local Government
12Distributive Fund from the General Revenue Fund shall be
13directly deposited into the Local Government Distributive Fund
14as the revenue is realized from the tax imposed by subsections
15(a) and (b) of Section 201 of this Act.
16    For State fiscal year 2020 only, notwithstanding any
17provision of law to the contrary, the total amount of revenue
18and deposits under this Section attributable to revenues
19realized during State fiscal year 2020 shall be reduced by 5%.
20    (c) Deposits Into Income Tax Refund Fund.
21        (1) Beginning on January 1, 1989 and thereafter, the
22    Department shall deposit a percentage of the amounts
23    collected pursuant to subsections (a) and (b)(1), (2), and
24    (3) of Section 201 of this Act into a fund in the State
25    treasury known as the Income Tax Refund Fund. Beginning
26    with State fiscal year 1990 and for each fiscal year

 

 

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1    thereafter, the percentage deposited into the Income Tax
2    Refund Fund during a fiscal year shall be the Annual
3    Percentage. For fiscal year 2011, the Annual Percentage
4    shall be 8.75%. For fiscal year 2012, the Annual
5    Percentage shall be 8.75%. For fiscal year 2013, the
6    Annual Percentage shall be 9.75%. For fiscal year 2014,
7    the Annual Percentage shall be 9.5%. For fiscal year 2015,
8    the Annual Percentage shall be 10%. For fiscal year 2018,
9    the Annual Percentage shall be 9.8%. For fiscal year 2019,
10    the Annual Percentage shall be 9.7%. For fiscal year 2020,
11    the Annual Percentage shall be 9.5%. For fiscal year 2021,
12    the Annual Percentage shall be 9%. For all other fiscal
13    years, the Annual Percentage shall be calculated as a
14    fraction, the numerator of which shall be the amount of
15    refunds approved for payment by the Department during the
16    preceding fiscal year as a result of overpayment of tax
17    liability under subsections (a) and (b)(1), (2), and (3)
18    of Section 201 of this Act plus the amount of such refunds
19    remaining approved but unpaid at the end of the preceding
20    fiscal year, minus the amounts transferred into the Income
21    Tax Refund Fund from the Tobacco Settlement Recovery Fund,
22    and the denominator of which shall be the amounts which
23    will be collected pursuant to subsections (a) and (b)(1),
24    (2), and (3) of Section 201 of this Act during the
25    preceding fiscal year; except that in State fiscal year
26    2002, the Annual Percentage shall in no event exceed 7.6%.

 

 

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1    The Director of Revenue shall certify the Annual
2    Percentage to the Comptroller on the last business day of
3    the fiscal year immediately preceding the fiscal year for
4    which it is to be effective.
5        (2) Beginning on January 1, 1989 and thereafter, the
6    Department shall deposit a percentage of the amounts
7    collected pursuant to subsections (a) and (b)(6), (7), and
8    (8), (c) and (d) of Section 201 of this Act into a fund in
9    the State treasury known as the Income Tax Refund Fund.
10    Beginning with State fiscal year 1990 and for each fiscal
11    year thereafter, the percentage deposited into the Income
12    Tax Refund Fund during a fiscal year shall be the Annual
13    Percentage. For fiscal year 2011, the Annual Percentage
14    shall be 17.5%. For fiscal year 2012, the Annual
15    Percentage shall be 17.5%. For fiscal year 2013, the
16    Annual Percentage shall be 14%. For fiscal year 2014, the
17    Annual Percentage shall be 13.4%. For fiscal year 2015,
18    the Annual Percentage shall be 14%. For fiscal year 2018,
19    the Annual Percentage shall be 17.5%. For fiscal year
20    2019, the Annual Percentage shall be 15.5%. For fiscal
21    year 2020, the Annual Percentage shall be 14.25%. For
22    fiscal year 2021, the Annual Percentage shall be 14%. For
23    all other fiscal years, the Annual Percentage shall be
24    calculated as a fraction, the numerator of which shall be
25    the amount of refunds approved for payment by the
26    Department during the preceding fiscal year as a result of

 

 

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1    overpayment of tax liability under subsections (a) and
2    (b)(6), (7), and (8), (c) and (d) of Section 201 of this
3    Act plus the amount of such refunds remaining approved but
4    unpaid at the end of the preceding fiscal year, and the
5    denominator of which shall be the amounts which will be
6    collected pursuant to subsections (a) and (b)(6), (7), and
7    (8), (c) and (d) of Section 201 of this Act during the
8    preceding fiscal year; except that in State fiscal year
9    2002, the Annual Percentage shall in no event exceed 23%.
10    The Director of Revenue shall certify the Annual
11    Percentage to the Comptroller on the last business day of
12    the fiscal year immediately preceding the fiscal year for
13    which it is to be effective.
14        (3) The Comptroller shall order transferred and the
15    Treasurer shall transfer from the Tobacco Settlement
16    Recovery Fund to the Income Tax Refund Fund (i)
17    $35,000,000 in January, 2001, (ii) $35,000,000 in January,
18    2002, and (iii) $35,000,000 in January, 2003.
19    (d) Expenditures from Income Tax Refund Fund.
20        (1) Beginning January 1, 1989, money in the Income Tax
21    Refund Fund shall be expended exclusively for the purpose
22    of paying refunds resulting from overpayment of tax
23    liability under Section 201 of this Act and for making
24    transfers pursuant to this subsection (d).
25        (2) The Director shall order payment of refunds
26    resulting from overpayment of tax liability under Section

 

 

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1    201 of this Act from the Income Tax Refund Fund only to the
2    extent that amounts collected pursuant to Section 201 of
3    this Act and transfers pursuant to this subsection (d) and
4    item (3) of subsection (c) have been deposited and
5    retained in the Fund.
6        (3) As soon as possible after the end of each fiscal
7    year, the Director shall order transferred and the State
8    Treasurer and State Comptroller shall transfer from the
9    Income Tax Refund Fund to the Personal Property Tax
10    Replacement Fund an amount, certified by the Director to
11    the Comptroller, equal to the excess of the amount
12    collected pursuant to subsections (c) and (d) of Section
13    201 of this Act deposited into the Income Tax Refund Fund
14    during the fiscal year over the amount of refunds
15    resulting from overpayment of tax liability under
16    subsections (c) and (d) of Section 201 of this Act paid
17    from the Income Tax Refund Fund during the fiscal year.
18        (4) As soon as possible after the end of each fiscal
19    year, the Director shall order transferred and the State
20    Treasurer and State Comptroller shall transfer from the
21    Personal Property Tax Replacement Fund to the Income Tax
22    Refund Fund an amount, certified by the Director to the
23    Comptroller, equal to the excess of the amount of refunds
24    resulting from overpayment of tax liability under
25    subsections (c) and (d) of Section 201 of this Act paid
26    from the Income Tax Refund Fund during the fiscal year

 

 

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1    over the amount collected pursuant to subsections (c) and
2    (d) of Section 201 of this Act deposited into the Income
3    Tax Refund Fund during the fiscal year.
4        (4.5) As soon as possible after the end of fiscal year
5    1999 and of each fiscal year thereafter, the Director
6    shall order transferred and the State Treasurer and State
7    Comptroller shall transfer from the Income Tax Refund Fund
8    to the General Revenue Fund any surplus remaining in the
9    Income Tax Refund Fund as of the end of such fiscal year;
10    excluding for fiscal years 2000, 2001, and 2002 amounts
11    attributable to transfers under item (3) of subsection (c)
12    less refunds resulting from the earned income tax credit.
13        (5) This Act shall constitute an irrevocable and
14    continuing appropriation from the Income Tax Refund Fund
15    for the purpose of paying refunds upon the order of the
16    Director in accordance with the provisions of this
17    Section.
18    (e) Deposits into the Education Assistance Fund and the
19Income Tax Surcharge Local Government Distributive Fund. On
20July 1, 1991, and thereafter, of the amounts collected
21pursuant to subsections (a) and (b) of Section 201 of this Act,
22minus deposits into the Income Tax Refund Fund, the Department
23shall deposit 7.3% into the Education Assistance Fund in the
24State Treasury. Beginning July 1, 1991, and continuing through
25January 31, 1993, of the amounts collected pursuant to
26subsections (a) and (b) of Section 201 of the Illinois Income

 

 

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1Tax Act, minus deposits into the Income Tax Refund Fund, the
2Department shall deposit 3.0% into the Income Tax Surcharge
3Local Government Distributive Fund in the State Treasury.
4Beginning February 1, 1993 and continuing through June 30,
51993, of the amounts collected pursuant to subsections (a) and
6(b) of Section 201 of the Illinois Income Tax Act, minus
7deposits into the Income Tax Refund Fund, the Department shall
8deposit 4.4% into the Income Tax Surcharge Local Government
9Distributive Fund in the State Treasury. Beginning July 1,
101993, and continuing through June 30, 1994, of the amounts
11collected under subsections (a) and (b) of Section 201 of this
12Act, minus deposits into the Income Tax Refund Fund, the
13Department shall deposit 1.475% into the Income Tax Surcharge
14Local Government Distributive Fund in the State Treasury.
15    (f) Deposits into the Fund for the Advancement of
16Education. Beginning February 1, 2015, the Department shall
17deposit the following portions of the revenue realized from
18the tax imposed upon individuals, trusts, and estates by
19subsections (a) and (b) of Section 201 of this Act, minus
20deposits into the Income Tax Refund Fund, into the Fund for the
21Advancement of Education:
22        (1) beginning February 1, 2015, and prior to February
23    1, 2025, 1/30; and
24        (2) beginning February 1, 2025, 1/26.
25    If the rate of tax imposed by subsection (a) and (b) of
26Section 201 is reduced pursuant to Section 201.5 of this Act,

 

 

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1the Department shall not make the deposits required by this
2subsection (f) on or after the effective date of the
3reduction.
4    (g) Deposits into the Commitment to Human Services Fund.
5Beginning February 1, 2015, the Department shall deposit the
6following portions of the revenue realized from the tax
7imposed upon individuals, trusts, and estates by subsections
8(a) and (b) of Section 201 of this Act, minus deposits into the
9Income Tax Refund Fund, into the Commitment to Human Services
10Fund:
11        (1) beginning February 1, 2015, and prior to February
12    1, 2025, 1/30; and
13        (2) beginning February 1, 2025, 1/26.
14    If the rate of tax imposed by subsection (a) and (b) of
15Section 201 is reduced pursuant to Section 201.5 of this Act,
16the Department shall not make the deposits required by this
17subsection (g) on or after the effective date of the
18reduction.
19    (h) Deposits into the Tax Compliance and Administration
20Fund. Beginning on the first day of the first calendar month to
21occur on or after August 26, 2014 (the effective date of Public
22Act 98-1098), each month the Department shall pay into the Tax
23Compliance and Administration Fund, to be used, subject to
24appropriation, to fund additional auditors and compliance
25personnel at the Department, an amount equal to 1/12 of 5% of
26the cash receipts collected during the preceding fiscal year

 

 

SB0509- 11 -LRB102 04496 HLH 14515 b

1by the Audit Bureau of the Department from the tax imposed by
2subsections (a), (b), (c), and (d) of Section 201 of this Act,
3net of deposits into the Income Tax Refund Fund made from those
4cash receipts.
5(Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17;
6100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff.
78-14-18; 100-1171, eff. 1-4-19; 101-10, eff. 6-5-19; 101-81,
8eff. 7-12-19; 101-636, eff. 6-10-20.)
 
9    (Text of Section with the changes made by P.A. 101-8,
10which did not take effect (see Section 99 of P.A. 101-8))
11    Sec. 901. Collection authority.
12    (a) In general. The Department shall collect the taxes
13imposed by this Act. The Department shall collect certified
14past due child support amounts under Section 2505-650 of the
15Department of Revenue Law of the Civil Administrative Code of
16Illinois. Except as provided in subsections (b), (c), (e),
17(f), (g), and (h) of this Section, money collected pursuant to
18subsections (a) and (b) of Section 201 of this Act shall be
19paid into the General Revenue Fund in the State treasury;
20money collected pursuant to subsections (c) and (d) of Section
21201 of this Act shall be paid into the Personal Property Tax
22Replacement Fund, a special fund in the State Treasury; and
23money collected under Section 2505-650 of the Department of
24Revenue Law of the Civil Administrative Code of Illinois shall
25be paid into the Child Support Enforcement Trust Fund, a

 

 

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1special fund outside the State Treasury, or to the State
2Disbursement Unit established under Section 10-26 of the
3Illinois Public Aid Code, as directed by the Department of
4Healthcare and Family Services.
5    (b) Local Government Distributive Fund. Beginning August
61, 2017 and continuing through July 31, 2021 and continuing
7through January 31, 2021, the Treasurer shall transfer each
8month from the General Revenue Fund to the Local Government
9Distributive Fund an amount equal to the sum of (i) 6.06% (10%
10of the ratio of the 3% individual income tax rate prior to 2011
11to the 4.95% individual income tax rate after July 1, 2017) of
12the net revenue realized from the tax imposed by subsections
13(a) and (b) of Section 201 of this Act upon individuals,
14trusts, and estates during the preceding month and (ii) 6.85%
15(10% of the ratio of the 4.8% corporate income tax rate prior
16to 2011 to the 7% corporate income tax rate after July 1, 2017)
17of the net revenue realized from the tax imposed by
18subsections (a) and (b) of Section 201 of this Act upon
19corporations during the preceding month. Beginning August 1,
202021, the Treasurer shall transfer each month from the General
21Revenue Fund to the Local Government Distributive Fund an
22amount equal to 10% of the net revenue realized from the tax
23imposed by subsections (a) and (b) of Section 201 of the
24Illinois Income Tax Act during the preceding month. Beginning
25February 1, 2021, the Treasurer shall transfer each month from
26the General Revenue Fund to the Local Government Distributive

 

 

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1Fund an amount equal to the sum of (i) 5.32% of the net revenue
2realized from the tax imposed by subsections (a) and (b) of
3Section 201 of this Act upon individuals, trusts, and estates
4during the preceding month and (ii) 6.16% of the net revenue
5realized from the tax imposed by subsections (a) and (b) of
6Section 201 of this Act upon corporations during the preceding
7month. Net revenue realized for a month shall be defined as the
8revenue from the tax imposed by subsections (a) and (b) of
9Section 201 of this Act which is deposited in the General
10Revenue Fund, the Education Assistance Fund, the Income Tax
11Surcharge Local Government Distributive Fund, the Fund for the
12Advancement of Education, and the Commitment to Human Services
13Fund during the month minus the amount paid out of the General
14Revenue Fund in State warrants during that same month as
15refunds to taxpayers for overpayment of liability under the
16tax imposed by subsections (a) and (b) of Section 201 of this
17Act.
18    Notwithstanding any provision of law to the contrary,
19beginning on July 6, 2017 (the effective date of Public Act
20100-23), those amounts required under this subsection (b) to
21be transferred by the Treasurer into the Local Government
22Distributive Fund from the General Revenue Fund shall be
23directly deposited into the Local Government Distributive Fund
24as the revenue is realized from the tax imposed by subsections
25(a) and (b) of Section 201 of this Act.
26    For State fiscal year 2020 only, notwithstanding any

 

 

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1provision of law to the contrary, the total amount of revenue
2and deposits under this Section attributable to revenues
3realized during State fiscal year 2020 shall be reduced by 5%.
4    (c) Deposits Into Income Tax Refund Fund.
5        (1) Beginning on January 1, 1989 and thereafter, the
6    Department shall deposit a percentage of the amounts
7    collected pursuant to subsections (a) and (b)(1), (2), and
8    (3) of Section 201 of this Act into a fund in the State
9    treasury known as the Income Tax Refund Fund. Beginning
10    with State fiscal year 1990 and for each fiscal year
11    thereafter, the percentage deposited into the Income Tax
12    Refund Fund during a fiscal year shall be the Annual
13    Percentage. For fiscal year 2011, the Annual Percentage
14    shall be 8.75%. For fiscal year 2012, the Annual
15    Percentage shall be 8.75%. For fiscal year 2013, the
16    Annual Percentage shall be 9.75%. For fiscal year 2014,
17    the Annual Percentage shall be 9.5%. For fiscal year 2015,
18    the Annual Percentage shall be 10%. For fiscal year 2018,
19    the Annual Percentage shall be 9.8%. For fiscal year 2019,
20    the Annual Percentage shall be 9.7%. For fiscal year 2020,
21    the Annual Percentage shall be 9.5%. For fiscal year 2021,
22    the Annual Percentage shall be 9%. For all other fiscal
23    years, the Annual Percentage shall be calculated as a
24    fraction, the numerator of which shall be the amount of
25    refunds approved for payment by the Department during the
26    preceding fiscal year as a result of overpayment of tax

 

 

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1    liability under subsections (a) and (b)(1), (2), and (3)
2    of Section 201 of this Act plus the amount of such refunds
3    remaining approved but unpaid at the end of the preceding
4    fiscal year, minus the amounts transferred into the Income
5    Tax Refund Fund from the Tobacco Settlement Recovery Fund,
6    and the denominator of which shall be the amounts which
7    will be collected pursuant to subsections (a) and (b)(1),
8    (2), and (3) of Section 201 of this Act during the
9    preceding fiscal year; except that in State fiscal year
10    2002, the Annual Percentage shall in no event exceed 7.6%.
11    The Director of Revenue shall certify the Annual
12    Percentage to the Comptroller on the last business day of
13    the fiscal year immediately preceding the fiscal year for
14    which it is to be effective.
15        (2) Beginning on January 1, 1989 and thereafter, the
16    Department shall deposit a percentage of the amounts
17    collected pursuant to subsections (a) and (b)(6), (7), and
18    (8), (c) and (d) of Section 201 of this Act into a fund in
19    the State treasury known as the Income Tax Refund Fund.
20    Beginning with State fiscal year 1990 and for each fiscal
21    year thereafter, the percentage deposited into the Income
22    Tax Refund Fund during a fiscal year shall be the Annual
23    Percentage. For fiscal year 2011, the Annual Percentage
24    shall be 17.5%. For fiscal year 2012, the Annual
25    Percentage shall be 17.5%. For fiscal year 2013, the
26    Annual Percentage shall be 14%. For fiscal year 2014, the

 

 

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1    Annual Percentage shall be 13.4%. For fiscal year 2015,
2    the Annual Percentage shall be 14%. For fiscal year 2018,
3    the Annual Percentage shall be 17.5%. For fiscal year
4    2019, the Annual Percentage shall be 15.5%. For fiscal
5    year 2020, the Annual Percentage shall be 14.25%. For
6    fiscal year 2021, the Annual Percentage shall be 14%. For
7    all other fiscal years, the Annual Percentage shall be
8    calculated as a fraction, the numerator of which shall be
9    the amount of refunds approved for payment by the
10    Department during the preceding fiscal year as a result of
11    overpayment of tax liability under subsections (a) and
12    (b)(6), (7), and (8), (c) and (d) of Section 201 of this
13    Act plus the amount of such refunds remaining approved but
14    unpaid at the end of the preceding fiscal year, and the
15    denominator of which shall be the amounts which will be
16    collected pursuant to subsections (a) and (b)(6), (7), and
17    (8), (c) and (d) of Section 201 of this Act during the
18    preceding fiscal year; except that in State fiscal year
19    2002, the Annual Percentage shall in no event exceed 23%.
20    The Director of Revenue shall certify the Annual
21    Percentage to the Comptroller on the last business day of
22    the fiscal year immediately preceding the fiscal year for
23    which it is to be effective.
24        (3) The Comptroller shall order transferred and the
25    Treasurer shall transfer from the Tobacco Settlement
26    Recovery Fund to the Income Tax Refund Fund (i)

 

 

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1    $35,000,000 in January, 2001, (ii) $35,000,000 in January,
2    2002, and (iii) $35,000,000 in January, 2003.
3    (d) Expenditures from Income Tax Refund Fund.
4        (1) Beginning January 1, 1989, money in the Income Tax
5    Refund Fund shall be expended exclusively for the purpose
6    of paying refunds resulting from overpayment of tax
7    liability under Section 201 of this Act and for making
8    transfers pursuant to this subsection (d).
9        (2) The Director shall order payment of refunds
10    resulting from overpayment of tax liability under Section
11    201 of this Act from the Income Tax Refund Fund only to the
12    extent that amounts collected pursuant to Section 201 of
13    this Act and transfers pursuant to this subsection (d) and
14    item (3) of subsection (c) have been deposited and
15    retained in the Fund.
16        (3) As soon as possible after the end of each fiscal
17    year, the Director shall order transferred and the State
18    Treasurer and State Comptroller shall transfer from the
19    Income Tax Refund Fund to the Personal Property Tax
20    Replacement Fund an amount, certified by the Director to
21    the Comptroller, equal to the excess of the amount
22    collected pursuant to subsections (c) and (d) of Section
23    201 of this Act deposited into the Income Tax Refund Fund
24    during the fiscal year over the amount of refunds
25    resulting from overpayment of tax liability under
26    subsections (c) and (d) of Section 201 of this Act paid

 

 

SB0509- 18 -LRB102 04496 HLH 14515 b

1    from the Income Tax Refund Fund during the fiscal year.
2        (4) As soon as possible after the end of each fiscal
3    year, the Director shall order transferred and the State
4    Treasurer and State Comptroller shall transfer from the
5    Personal Property Tax Replacement Fund to the Income Tax
6    Refund Fund an amount, certified by the Director to the
7    Comptroller, equal to the excess of the amount of refunds
8    resulting from overpayment of tax liability under
9    subsections (c) and (d) of Section 201 of this Act paid
10    from the Income Tax Refund Fund during the fiscal year
11    over the amount collected pursuant to subsections (c) and
12    (d) of Section 201 of this Act deposited into the Income
13    Tax Refund Fund during the fiscal year.
14        (4.5) As soon as possible after the end of fiscal year
15    1999 and of each fiscal year thereafter, the Director
16    shall order transferred and the State Treasurer and State
17    Comptroller shall transfer from the Income Tax Refund Fund
18    to the General Revenue Fund any surplus remaining in the
19    Income Tax Refund Fund as of the end of such fiscal year;
20    excluding for fiscal years 2000, 2001, and 2002 amounts
21    attributable to transfers under item (3) of subsection (c)
22    less refunds resulting from the earned income tax credit.
23        (5) This Act shall constitute an irrevocable and
24    continuing appropriation from the Income Tax Refund Fund
25    for the purpose of paying refunds upon the order of the
26    Director in accordance with the provisions of this

 

 

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1    Section.
2    (e) Deposits into the Education Assistance Fund and the
3Income Tax Surcharge Local Government Distributive Fund. On
4July 1, 1991, and thereafter, of the amounts collected
5pursuant to subsections (a) and (b) of Section 201 of this Act,
6minus deposits into the Income Tax Refund Fund, the Department
7shall deposit 7.3% into the Education Assistance Fund in the
8State Treasury. Beginning July 1, 1991, and continuing through
9January 31, 1993, of the amounts collected pursuant to
10subsections (a) and (b) of Section 201 of the Illinois Income
11Tax Act, minus deposits into the Income Tax Refund Fund, the
12Department shall deposit 3.0% into the Income Tax Surcharge
13Local Government Distributive Fund in the State Treasury.
14Beginning February 1, 1993 and continuing through June 30,
151993, of the amounts collected pursuant to subsections (a) and
16(b) of Section 201 of the Illinois Income Tax Act, minus
17deposits into the Income Tax Refund Fund, the Department shall
18deposit 4.4% into the Income Tax Surcharge Local Government
19Distributive Fund in the State Treasury. Beginning July 1,
201993, and continuing through June 30, 1994, of the amounts
21collected under subsections (a) and (b) of Section 201 of this
22Act, minus deposits into the Income Tax Refund Fund, the
23Department shall deposit 1.475% into the Income Tax Surcharge
24Local Government Distributive Fund in the State Treasury.
25    (f) Deposits into the Fund for the Advancement of
26Education. Beginning February 1, 2015, the Department shall

 

 

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1deposit the following portions of the revenue realized from
2the tax imposed upon individuals, trusts, and estates by
3subsections (a) and (b) of Section 201 of this Act, minus
4deposits into the Income Tax Refund Fund, into the Fund for the
5Advancement of Education:
6        (1) beginning February 1, 2015, and prior to February
7    1, 2025, 1/30; and
8        (2) beginning February 1, 2025, 1/26.
9    If the rate of tax imposed by subsection (a) and (b) of
10Section 201 is reduced pursuant to Section 201.5 of this Act,
11the Department shall not make the deposits required by this
12subsection (f) on or after the effective date of the
13reduction.
14    (g) Deposits into the Commitment to Human Services Fund.
15Beginning February 1, 2015, the Department shall deposit the
16following portions of the revenue realized from the tax
17imposed upon individuals, trusts, and estates by subsections
18(a) and (b) of Section 201 of this Act, minus deposits into the
19Income Tax Refund Fund, into the Commitment to Human Services
20Fund:
21        (1) beginning February 1, 2015, and prior to February
22    1, 2025, 1/30; and
23        (2) beginning February 1, 2025, 1/26.
24    If the rate of tax imposed by subsection (a) and (b) of
25Section 201 is reduced pursuant to Section 201.5 of this Act,
26the Department shall not make the deposits required by this

 

 

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1subsection (g) on or after the effective date of the
2reduction.
3    (h) Deposits into the Tax Compliance and Administration
4Fund. Beginning on the first day of the first calendar month to
5occur on or after August 26, 2014 (the effective date of Public
6Act 98-1098), each month the Department shall pay into the Tax
7Compliance and Administration Fund, to be used, subject to
8appropriation, to fund additional auditors and compliance
9personnel at the Department, an amount equal to 1/12 of 5% of
10the cash receipts collected during the preceding fiscal year
11by the Audit Bureau of the Department from the tax imposed by
12subsections (a), (b), (c), and (d) of Section 201 of this Act,
13net of deposits into the Income Tax Refund Fund made from those
14cash receipts.
15(Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17;
16100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff.
178-14-18; 100-1171, eff. 1-4-19; 101-8, see Section 99 for
18effective date; 101-10, eff. 6-5-19; 101-81, eff. 7-12-19;
19101-636, eff. 6-10-20.)
 
20    Section 99. Effective date. This Act takes effect upon
21becoming law.