Full Text of SB3320 97th General Assembly
SB3320 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 SB3320 Introduced 2/7/2012, by Sen. Toi W. Hutchinson SYNOPSIS AS INTRODUCED: |
| 35 ILCS 5/509 | from Ch. 120, par. 5-509 | 35 ILCS 5/509.1 | |
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Amends the Illinois Income Tax Act. Provides that any fund that received less than $100,000 but more than $90,000 by October 1, 2011 shall also be included on the individual income tax form for the taxable year beginning on January 1, 2012. Provides that, if a fund that received less than $100,000 but more than $90,000 by October 1, 2011 does not receive at least $100,000 in contributions by October 1, 2013, or by October 1 of any subsequent year, then the fund shall be removed from the
individual income tax return forms for each year following the year in which the fund did not receive at least $100,000,
and all subsequent contributions to the fund shall be refunded to the taxpayer. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| 1 | | AN ACT concerning revenue.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Income Tax Act is amended by | 5 | | changing Sections 509 and 509.1 as follows:
| 6 | | (35 ILCS 5/509) (from Ch. 120, par. 5-509)
| 7 | | Sec. 509. Tax checkoff explanations. All individual income | 8 | | tax return forms
shall contain appropriate explanations and | 9 | | spaces to enable the taxpayers to
designate contributions to | 10 | | the funds to which contributions may be made under this Article | 11 | | 5.
| 12 | | Each form shall contain a statement that the contributions | 13 | | will reduce the
taxpayer's refund or increase the amount of | 14 | | payment to accompany the return.
Failure to remit any amount of | 15 | | increased payment shall reduce the contribution
accordingly.
| 16 | | Except as otherwise provided in this Section, if, If, on | 17 | | October 1 of any year, the total contributions to any one of | 18 | | the
funds made under this Article 5 do not equal $100,000 or | 19 | | more, the explanations
and spaces for designating | 20 | | contributions to the fund shall be removed from the
individual | 21 | | income tax return forms for the following and all subsequent | 22 | | years
and all subsequent contributions to the fund shall be | 23 | | refunded to the taxpayer. Notwithstanding any other provision |
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| 1 | | of this Section to the contrary, any fund that received less | 2 | | than $100,000 but more than $90,000 by October 1, 2011 shall | 3 | | also be included on the individual income tax form for the | 4 | | taxable year beginning on January 1, 2012. However, if a fund | 5 | | that received less than $100,000 but more than $90,000 by | 6 | | October 1, 2011 does not receive at least $100,000 in | 7 | | contributions by October 1, 2013, or by October 1 of any | 8 | | subsequent year, then the fund shall be removed from the
| 9 | | individual income tax return forms for each year following the | 10 | | year in which the fund did not receive at least $100,000,
and | 11 | | all subsequent contributions to the fund shall be refunded to | 12 | | the taxpayer.
| 13 | | (Source: P.A. 95-331, eff. 8-21-07; 95-434, eff. 8-27-07; | 14 | | 95-435, eff. 8-27-07; 95-940, eff. 8-29-08; 96-328, eff. | 15 | | 8-11-09.)
| 16 | | (35 ILCS 5/509.1) | 17 | | Sec. 509.1. Removal of excess tax-checkoff funds. | 18 | | Notwithstanding any provisions of this Act to the contrary, | 19 | | beginning on the effective date of this amendatory Act of the | 20 | | 95th General Assembly, there may not be more than 15 | 21 | | tax-checkoff funds contained on the individual tax return form | 22 | | at any one time. Each year, the Department shall determine | 23 | | whether the sum of (i) the number of new tax-checkoff funds | 24 | | created by the General Assembly during that year plus (ii) the | 25 | | number of tax-checkoff funds that collected at least the |
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| 1 | | minimum amount of contributions required under Section 509 | 2 | | $100,000 during the previous year exceeds 15. If so, then the | 3 | | Department shall remove a number of tax-checkoff funds that | 4 | | were on the return during the previous year that is equal to | 5 | | the sum of items (i) and (ii) minus 15, starting with the | 6 | | tax-checkoff fund that received the least amount of | 7 | | contributions and working upward until a sufficient number of | 8 | | funds have been removed.
| 9 | | (Source: P.A. 95-435, eff. 8-27-07.)
| 10 | | Section 99. Effective date. This Act takes effect upon | 11 | | becoming law. |
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