Full Text of SB2288 95th General Assembly
SB2288sam001 95TH GENERAL ASSEMBLY
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Sen. James T. Meeks
Filed: 5/8/2008
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| AMENDMENT TO SENATE BILL 2288
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| AMENDMENT NO. ______. Amend Senate Bill 2288 by inserting | 3 |
| the following in its proper numeric sequence:
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| "Section 6.5. The State Finance Act is amended by adding | 5 |
| Section 5.720 as follows: | 6 |
| (30 ILCS 105/5.720 new) | 7 |
| Sec. 5.720. The Supplemental Local Government Distributive | 8 |
| Fund. | 9 |
| Section 6.6. The State Revenue Sharing Act is amended by | 10 |
| changing Section 2 and by adding Section 1b as follows: | 11 |
| (30 ILCS 115/1b new) | 12 |
| Sec. 1b. Supplemental Local Government Distributive Fund. | 13 |
| Beginning on July 1, 2008, as
soon as may be after the first | 14 |
| day of each month, the Department of Revenue
shall certify to |
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| the State Treasurer an amount equal to one-tenth of the net | 2 |
| revenue
realized from the tax imposed by subsections (a) and | 3 |
| (b) of Section 201 of the
Illinois Income Tax Act during the | 4 |
| preceding month. Net revenue realized for a month is defined as | 5 |
| the revenue from the tax
imposed by subsections (a) and (b) of | 6 |
| Section 201 of the Illinois Income Tax
Act that is deposited in | 7 |
| the General Revenue Fund, the Education Assistance
Fund, the | 8 |
| Local Government Distributive Fund, and the Income Tax | 9 |
| Surcharge Local Government Distributive Fund during the
month | 10 |
| minus the amount paid out of the General Revenue Fund in State | 11 |
| warrants
during that same month as refunds to taxpayers for | 12 |
| overpayment of liability
under the tax imposed by subsections | 13 |
| (a) and (b) of Section 201 of the Illinois
Income Tax Act. Upon | 14 |
| receipt of the certification, the Treasurer shall
transfer from | 15 |
| the General Revenue Fund to a special fund in the State | 16 |
| treasury,
to be known as the "Supplemental Local Government | 17 |
| Distributive Fund", the amount shown on
the certification; | 18 |
| however, those transfers shall not exceed $16,666,666 per | 19 |
| month.
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| (30 ILCS 115/2) (from Ch. 85, par. 612)
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| Sec. 2. Allocation and Disbursement. As soon as may be | 22 |
| after the
first day of each month, the Department of Revenue | 23 |
| shall allocate among the
several municipalities and counties of | 24 |
| this State the amount available in
the Local Government | 25 |
| Distributive Fund , the Supplemental Local Government |
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| Distributive Fund, and in the Income Tax Surcharge
Local | 2 |
| Government Distributive Fund, determined as provided in | 3 |
| Sections 1 ,
and 1a , and 1b of this Act above . Except as | 4 |
| provided in Sections 13 and 13.1 of this Act, the
Department | 5 |
| shall then certify such allocations to the State Comptroller,
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| who shall pay over to the several municipalities and
counties | 7 |
| the respective amounts allocated to them. The amount of such
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| Funds allocable to each such municipality and county shall be | 9 |
| in
proportion to the number of individual residents of such | 10 |
| municipality or
county to the total population of the State, | 11 |
| determined in each case on
the basis of the latest census of | 12 |
| the State, municipality or county
conducted by the Federal | 13 |
| government and certified by the Secretary of
State and for | 14 |
| annexations to municipalities, the latest Federal, State
or | 15 |
| municipal census of the annexed area which has been certified | 16 |
| by the
Department of Revenue. Allocations to the City of | 17 |
| Chicago under this Section
are subject to Section 6 of the | 18 |
| Hotel Operators' Occupation Tax Act. For the
purpose of this | 19 |
| Section,
the number of individual residents of a county shall | 20 |
| be reduced by the
number of individuals residing therein in | 21 |
| municipalities, but the number
of individual residents of the | 22 |
| State, county and municipality shall
reflect the latest census | 23 |
| of any of them. The amounts transferred into the
Local | 24 |
| Government Distributive Fund pursuant to Section 9 of the Use | 25 |
| Tax
Act, Section 9 of the Service Use Tax Act, Section 9 of the | 26 |
| Service
Occupation Tax Act, and Section 3 of the Retailers' |
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| Occupation Tax Act,
each as now or hereafter amended, pursuant | 2 |
| to the amendments of such
Sections by Public Act 85-1135, shall | 3 |
| be distributed as provided in said
Sections.
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| (Source: P.A. 91-51, eff. 6-30-99; 91-935, eff. 6-1-01.)".
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