Full Text of SB3392 101st General Assembly
SB3392 101ST GENERAL ASSEMBLY |
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020 SB3392 Introduced 2/14/2020, by Sen. Patrick J. Joyce SYNOPSIS AS INTRODUCED: |
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Amends the Illinois Income Tax Act. Increases the amount deposited into the Local Government Distributive Fund. 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 Section 901 as follows:
| 6 | | (35 ILCS 5/901)
| 7 | | (Text of Section before amendment by P.A. 101-8 ) | 8 | | Sec. 901. Collection authority. | 9 | | (a) In general. The Department shall collect the taxes | 10 | | imposed by this Act. The Department
shall collect certified | 11 | | past due child support amounts under Section 2505-650
of the | 12 | | Department of Revenue Law of the
Civil Administrative Code of | 13 | | Illinois. Except as
provided in subsections (b), (c), (e), (f), | 14 | | (g), and (h) of this Section, money collected
pursuant to | 15 | | subsections (a) and (b) of Section 201 of this Act shall be
| 16 | | paid into the General Revenue Fund in the State treasury; money
| 17 | | collected pursuant to subsections (c) and (d) of Section 201 of | 18 | | this Act
shall be paid into the Personal Property Tax | 19 | | Replacement Fund, a special
fund in the State Treasury; and | 20 | | money collected under Section 2505-650 of the
Department of | 21 | | Revenue Law of the
Civil Administrative Code of Illinois shall | 22 | | be paid
into the
Child Support Enforcement Trust Fund, a | 23 | | special fund outside the State
Treasury, or
to the State
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| 1 | | Disbursement Unit established under Section 10-26 of the | 2 | | Illinois Public Aid
Code, as directed by the Department of | 3 | | Healthcare and Family Services. | 4 | | (b) Local Government Distributive Fund. Beginning August | 5 | | 1, 2017 and continuing through January 31, 2021 , the Treasurer | 6 | | shall transfer each month from the General Revenue Fund to the | 7 | | Local Government Distributive Fund an amount equal to the sum | 8 | | of (i) 6.06% (10% of the ratio of the 3% individual income tax | 9 | | rate prior to 2011 to the 4.95% individual income tax rate | 10 | | after July 1, 2017) of the net revenue realized from the tax | 11 | | imposed by subsections (a) and (b) of Section 201 of this Act | 12 | | upon individuals, trusts, and estates during the preceding | 13 | | month and (ii) 6.85% (10% of the ratio of the 4.8% corporate | 14 | | income tax rate prior to 2011 to the 7% corporate income tax | 15 | | rate after July 1, 2017) of the net revenue realized from the | 16 | | tax imposed by subsections (a) and (b) of Section 201 of this | 17 | | Act upon corporations during the preceding month. Beginning | 18 | | February 1, 2021 and continuing through January 31, 2022, the | 19 | | following amounts shall be deposited into the Local Government | 20 | | Distributive Fund: (i) 8.5% of the net revenue realized from | 21 | | the tax imposed by subsections (a) and (b) of Section 201 of | 22 | | this Act upon individuals, trusts, and estates and (ii) 9.355% | 23 | | of the net revenue realized from the tax imposed by subsections | 24 | | (a) and (b) of Section 201 of this Act upon corporations. | 25 | | Beginning February 1, 2022 and continuing through January 31, | 26 | | 2023, the following amounts shall be deposited into the Local |
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| 1 | | Government Distributive Fund: (i) 9% of the net revenue | 2 | | realized from the tax imposed by subsections (a) and (b) of | 3 | | Section 201 of this Act upon individuals, trusts, and estates | 4 | | and (ii) 9.57% of the net revenue realized from the tax imposed | 5 | | by subsections (a) and (b) of Section 201 of this Act upon | 6 | | corporations. Beginning February 1, 2023 and continuing | 7 | | through January 31, 2024, the following amounts shall be | 8 | | deposited into the Local Government Distributive Fund: (i) 9.5% | 9 | | of the net revenue realized from the tax imposed by subsections | 10 | | (a) and (b) of Section 201 of this Act upon individuals, | 11 | | trusts, and estates and (ii) 9.785% of the net revenue realized | 12 | | from the tax imposed by subsections (a) and (b) of Section 201 | 13 | | of this Act upon corporations. Beginning on February 1, 2024, | 14 | | the following amounts shall be deposited into the Local | 15 | | Government Distributive Fund: 10% of the net revenue realized | 16 | | from the
tax imposed on individuals, trusts, estates, and | 17 | | corporations by
subsections (a) and (b) of Section 201. Net | 18 | | revenue realized for a month shall be defined as the
revenue | 19 | | from the tax imposed by subsections (a) and (b) of Section 201 | 20 | | of this
Act which is deposited in the General Revenue Fund, the | 21 | | Education Assistance
Fund, the Income Tax Surcharge Local | 22 | | Government Distributive Fund, the Fund for the Advancement of | 23 | | Education, and the Commitment to Human Services Fund during the
| 24 | | month minus the amount paid out of the General Revenue Fund in | 25 | | State warrants
during that same month as refunds to taxpayers | 26 | | for overpayment of liability
under the tax imposed by |
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| 1 | | subsections (a) and (b) of Section 201 of this Act. | 2 | | Notwithstanding any provision of law to the contrary, | 3 | | beginning on July 6, 2017 (the effective date of Public Act | 4 | | 100-23), those amounts required under this subsection (b) to be | 5 | | transferred by the Treasurer into the Local Government | 6 | | Distributive Fund from the General Revenue Fund shall be | 7 | | directly deposited into the Local Government Distributive Fund | 8 | | as the revenue is realized from the tax imposed by subsections | 9 | | (a) and (b) of Section 201 of this Act. | 10 | | For State fiscal year 2020 only, notwithstanding any | 11 | | provision of law to the contrary, the total amount of revenue | 12 | | and deposits under this Section attributable to revenues | 13 | | realized during State fiscal year 2020 shall be reduced by 5%. | 14 | | (c) Deposits Into Income Tax Refund Fund. | 15 | | (1) 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)(1), (2), and | 18 | | (3) of Section 201 of this Act into a fund in the State
| 19 | | treasury known as the Income Tax Refund Fund. Beginning | 20 | | with State fiscal year 1990 and for each fiscal year
| 21 | | thereafter, the percentage deposited into the Income Tax | 22 | | Refund Fund during a
fiscal year shall be the Annual | 23 | | Percentage. For fiscal year 2011, the Annual Percentage | 24 | | shall be 8.75%. For fiscal year 2012, the Annual Percentage | 25 | | shall be 8.75%. For fiscal year 2013, the Annual Percentage | 26 | | shall be 9.75%. For fiscal year 2014, the Annual Percentage |
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| 1 | | shall be 9.5%. For fiscal year 2015, the Annual Percentage | 2 | | shall be 10%. For fiscal year 2018, the Annual Percentage | 3 | | shall be 9.8%. For fiscal year 2019, the Annual Percentage | 4 | | shall be 9.7%. For fiscal year 2020, the Annual Percentage | 5 | | shall be 9.5%. For all other
fiscal years, the
Annual | 6 | | Percentage shall be calculated as a fraction, the numerator | 7 | | of which
shall be the amount of refunds approved for | 8 | | payment by the Department during
the preceding fiscal year | 9 | | as a result of overpayment of tax liability under
| 10 | | subsections (a) and (b)(1), (2), and (3) of Section 201 of | 11 | | this Act plus the
amount of such refunds remaining approved | 12 | | but unpaid at the end of the
preceding fiscal year, minus | 13 | | the amounts transferred into the Income Tax
Refund Fund | 14 | | from the Tobacco Settlement Recovery Fund, and
the | 15 | | denominator of which shall be the amounts which will be | 16 | | collected pursuant
to subsections (a) and (b)(1), (2), and | 17 | | (3) of Section 201 of this Act during
the preceding fiscal | 18 | | year; except that in State fiscal year 2002, the Annual
| 19 | | Percentage shall in no event exceed 7.6%. The Director of | 20 | | Revenue shall
certify the Annual Percentage to the | 21 | | Comptroller on the last business day of
the fiscal year | 22 | | immediately preceding the fiscal year for which it is to be
| 23 | | effective. | 24 | | (2) Beginning on January 1, 1989 and thereafter, the | 25 | | Department shall
deposit a percentage of the amounts | 26 | | collected pursuant to subsections (a)
and (b)(6), (7), and |
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| 1 | | (8), (c) and (d) of Section 201
of this Act into a fund in | 2 | | the State treasury known as the Income Tax
Refund Fund. | 3 | | Beginning
with State fiscal year 1990 and for each fiscal | 4 | | year thereafter, the
percentage deposited into the Income | 5 | | Tax Refund Fund during a fiscal year
shall be the Annual | 6 | | Percentage. For fiscal year 2011, the Annual Percentage | 7 | | shall be 17.5%. For fiscal year 2012, the Annual Percentage | 8 | | shall be 17.5%. For fiscal year 2013, the Annual Percentage | 9 | | shall be 14%. For fiscal year 2014, the Annual Percentage | 10 | | shall be 13.4%. For fiscal year 2015, the Annual Percentage | 11 | | shall be 14%. For fiscal year 2018, the Annual Percentage | 12 | | shall be 17.5%. For fiscal year 2019, the Annual Percentage | 13 | | shall be 15.5%. For fiscal year 2020, the Annual Percentage | 14 | | shall be 14.25%. For all other fiscal years, the Annual
| 15 | | Percentage shall be calculated
as a fraction, the numerator | 16 | | of which shall be the amount of refunds
approved for | 17 | | payment by the Department during the preceding fiscal year | 18 | | as
a result of overpayment of tax liability under | 19 | | subsections (a) and (b)(6),
(7), and (8), (c) and (d) of | 20 | | Section 201 of this Act plus the
amount of such refunds | 21 | | remaining approved but unpaid at the end of the
preceding | 22 | | fiscal year, and the denominator of
which shall be the | 23 | | amounts which will be collected pursuant to subsections (a)
| 24 | | and (b)(6), (7), and (8), (c) and (d) of Section 201 of | 25 | | this Act during the
preceding fiscal year; except that in | 26 | | State fiscal year 2002, the Annual
Percentage shall in no |
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| 1 | | event exceed 23%. The Director of Revenue shall
certify the | 2 | | Annual Percentage to the Comptroller on the last business | 3 | | day of
the fiscal year immediately preceding the fiscal | 4 | | year for which it is to be
effective. | 5 | | (3) The Comptroller shall order transferred and the | 6 | | Treasurer shall
transfer from the Tobacco Settlement | 7 | | Recovery Fund to the Income Tax Refund
Fund (i) $35,000,000 | 8 | | in January, 2001, (ii) $35,000,000 in January, 2002, and
| 9 | | (iii) $35,000,000 in January, 2003. | 10 | | (d) Expenditures from Income Tax Refund Fund. | 11 | | (1) Beginning January 1, 1989, money in the Income Tax | 12 | | Refund Fund
shall be expended exclusively for the purpose | 13 | | of paying refunds resulting
from overpayment of tax | 14 | | liability under Section 201 of this Act
and for
making | 15 | | transfers pursuant to this subsection (d). | 16 | | (2) The Director shall order payment of refunds | 17 | | resulting from
overpayment of tax liability under Section | 18 | | 201 of this Act from the
Income Tax Refund Fund only to the | 19 | | extent that amounts collected pursuant
to Section 201 of | 20 | | this Act and transfers pursuant to this subsection (d)
and | 21 | | item (3) of subsection (c) have been deposited and retained | 22 | | in the
Fund. | 23 | | (3) As soon as possible after the end of each fiscal | 24 | | year, the Director
shall
order transferred and the State | 25 | | Treasurer and State Comptroller shall
transfer from the | 26 | | Income Tax Refund Fund to the Personal Property Tax
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| 1 | | Replacement Fund an amount, certified by the Director to | 2 | | the Comptroller,
equal to the excess of the amount | 3 | | collected pursuant to subsections (c) and
(d) of Section | 4 | | 201 of this Act deposited into the Income Tax Refund Fund
| 5 | | during the fiscal year over the amount of refunds resulting | 6 | | from
overpayment of tax liability under subsections (c) and | 7 | | (d) of Section 201
of this Act paid from the Income Tax | 8 | | Refund Fund during the fiscal year. | 9 | | (4) As soon as possible after the end of each fiscal | 10 | | year, the Director shall
order transferred and the State | 11 | | Treasurer and State Comptroller shall
transfer from the | 12 | | Personal Property Tax Replacement Fund to the Income Tax
| 13 | | Refund Fund an amount, certified by the Director to the | 14 | | Comptroller, equal
to the excess of 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 over | 18 | | the amount
collected pursuant to subsections (c) and (d) of | 19 | | Section 201 of this Act
deposited into the Income Tax | 20 | | Refund Fund during the fiscal year. | 21 | | (4.5) As soon as possible after the end of fiscal year | 22 | | 1999 and of each
fiscal year
thereafter, the Director shall | 23 | | order transferred and the State Treasurer and
State | 24 | | Comptroller shall transfer from the Income Tax Refund Fund | 25 | | to the General
Revenue Fund any surplus remaining in the | 26 | | Income Tax Refund Fund as of the end
of such fiscal year; |
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| 1 | | excluding for fiscal years 2000, 2001, and 2002
amounts | 2 | | attributable to transfers under item (3) of subsection (c) | 3 | | less refunds
resulting from the earned income tax credit. | 4 | | (5) This Act shall constitute an irrevocable and | 5 | | continuing
appropriation from the Income Tax Refund Fund | 6 | | for the purpose of paying
refunds upon the order of the | 7 | | Director in accordance with the provisions of
this Section. | 8 | | (e) Deposits into the Education Assistance Fund and the | 9 | | Income Tax
Surcharge Local Government Distributive Fund. On | 10 | | July 1, 1991, and thereafter, of the amounts collected pursuant | 11 | | to
subsections (a) and (b) of Section 201 of this Act, minus | 12 | | deposits into the
Income Tax Refund Fund, the Department shall | 13 | | deposit 7.3% into the
Education Assistance Fund in the State | 14 | | Treasury. Beginning July 1, 1991,
and continuing through | 15 | | January 31, 1993, of the amounts collected pursuant to
| 16 | | subsections (a) and (b) of Section 201 of the Illinois Income | 17 | | Tax Act, minus
deposits into the Income Tax Refund Fund, the | 18 | | Department shall deposit 3.0%
into the Income Tax Surcharge | 19 | | Local Government Distributive Fund in the State
Treasury. | 20 | | Beginning February 1, 1993 and continuing through June 30, | 21 | | 1993, of
the amounts collected pursuant to subsections (a) and | 22 | | (b) of Section 201 of the
Illinois Income Tax Act, minus | 23 | | deposits into the Income Tax Refund Fund, the
Department shall | 24 | | deposit 4.4% into the Income Tax Surcharge Local Government
| 25 | | Distributive Fund in the State Treasury. Beginning July 1, | 26 | | 1993, and
continuing through June 30, 1994, of the amounts |
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| 1 | | collected under subsections
(a) and (b) of Section 201 of this | 2 | | Act, minus deposits into the Income Tax
Refund Fund, the | 3 | | Department shall deposit 1.475% into the Income Tax Surcharge
| 4 | | Local Government Distributive Fund in the State Treasury. | 5 | | (f) Deposits into the Fund for the Advancement of | 6 | | Education. Beginning February 1, 2015, the Department shall | 7 | | deposit the following portions of the revenue realized from the | 8 | | tax imposed upon individuals, trusts, and estates by | 9 | | subsections (a) and (b) of Section 201 of this Act, minus | 10 | | deposits into the Income Tax Refund Fund, into the Fund for the | 11 | | Advancement of Education: | 12 | | (1) beginning February 1, 2015, and prior to February | 13 | | 1, 2025, 1/30; and | 14 | | (2) beginning February 1, 2025, 1/26. | 15 | | If the rate of tax imposed by subsection (a) and (b) of | 16 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 17 | | the Department shall not make the deposits required by this | 18 | | subsection (f) on or after the effective date of the reduction. | 19 | | (g) Deposits into the Commitment to Human Services Fund. | 20 | | Beginning February 1, 2015, the Department shall deposit the | 21 | | following portions of the revenue realized from the tax imposed | 22 | | upon individuals, trusts, and estates by subsections (a) and | 23 | | (b) of Section 201 of this Act, minus deposits into the Income | 24 | | Tax Refund Fund, into the Commitment to Human Services Fund: | 25 | | (1) beginning February 1, 2015, and prior to February | 26 | | 1, 2025, 1/30; and |
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| 1 | | (2) beginning February 1, 2025, 1/26. | 2 | | If the rate of tax imposed by subsection (a) and (b) of | 3 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 4 | | the Department shall not make the deposits required by this | 5 | | subsection (g) on or after the effective date of the reduction. | 6 | | (h) Deposits into the Tax Compliance and Administration | 7 | | Fund. Beginning on the first day of the first calendar month to | 8 | | occur on or after August 26, 2014 (the effective date of Public | 9 | | Act 98-1098), each month the Department shall pay into the Tax | 10 | | Compliance and Administration Fund, to be used, subject to | 11 | | appropriation, to fund additional auditors and compliance | 12 | | personnel at the Department, an amount equal to 1/12 of 5% of | 13 | | the cash receipts collected during the preceding fiscal year by | 14 | | the Audit Bureau of the Department from the tax imposed by | 15 | | subsections (a), (b), (c), and (d) of Section 201 of this Act, | 16 | | net of deposits into the Income Tax Refund Fund made from those | 17 | | cash receipts. | 18 | | (Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17; | 19 | | 100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff. | 20 | | 8-14-18; 100-1171, eff. 1-4-19; 101-10, eff. 6-5-19; 101-81, | 21 | | eff. 7-12-19.) | 22 | | (Text of Section after amendment by P.A. 101-8 )
| 23 | | Sec. 901. Collection authority. | 24 | | (a) In general. The Department shall collect the taxes | 25 | | imposed by this Act. The Department
shall collect certified |
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| 1 | | past due child support amounts under Section 2505-650
of the | 2 | | Department of Revenue Law of the
Civil Administrative Code of | 3 | | Illinois. Except as
provided in subsections (b), (c), (e), (f), | 4 | | (g), and (h) of this Section, money collected
pursuant to | 5 | | subsections (a) and (b) of Section 201 of this Act shall be
| 6 | | paid into the General Revenue Fund in the State treasury; money
| 7 | | collected pursuant to subsections (c) and (d) of Section 201 of | 8 | | this Act
shall be paid into the Personal Property Tax | 9 | | Replacement Fund, a special
fund in the State Treasury; and | 10 | | money collected under Section 2505-650 of the
Department of | 11 | | Revenue Law of the
Civil Administrative Code of Illinois shall | 12 | | be paid
into the
Child Support Enforcement Trust Fund, a | 13 | | special fund outside the State
Treasury, or
to the State
| 14 | | Disbursement Unit established under Section 10-26 of the | 15 | | Illinois Public Aid
Code, as directed by the Department of | 16 | | Healthcare and Family Services. | 17 | | (b) Local Government Distributive Fund. Beginning August | 18 | | 1, 2017 and continuing through January 31, 2021, the Treasurer | 19 | | shall transfer each month from the General Revenue Fund to the | 20 | | Local Government Distributive Fund an amount equal to the sum | 21 | | of (i) 6.06% (10% of the ratio of the 3% individual income tax | 22 | | rate prior to 2011 to the 4.95% individual income tax rate | 23 | | after July 1, 2017) of the net revenue realized from the tax | 24 | | imposed by subsections (a) and (b) of Section 201 of this Act | 25 | | upon individuals, trusts, and estates during the preceding | 26 | | month and (ii) 6.85% (10% of the ratio of the 4.8% corporate |
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| 1 | | income tax rate prior to 2011 to the 7% corporate income tax | 2 | | rate after July 1, 2017) of the net revenue realized from the | 3 | | tax imposed by subsections (a) and (b) of Section 201 of this | 4 | | Act upon corporations during the preceding month. Beginning | 5 | | February 1, 2021 and continuing through January 31, 2022 , the | 6 | | Treasurer shall transfer each month from the General Revenue | 7 | | Fund to the Local Government Distributive Fund an amount equal | 8 | | to the sum of (i) 8.5% 5.32% of the net revenue realized from | 9 | | the tax imposed by subsections (a) and (b) of Section 201 of | 10 | | this Act upon individuals, trusts, and estates during the | 11 | | preceding month and (ii) 9.355% 6.16% of the net revenue | 12 | | realized from the tax imposed by subsections (a) and (b) of | 13 | | Section 201 of this Act upon corporations during the preceding | 14 | | month. Beginning February 1, 2022 and continuing through | 15 | | January 31, 2023, the following amounts shall be deposited into | 16 | | the Local Government Distributive Fund: (i) 9% of the net | 17 | | revenue realized from the tax imposed by subsections (a) and | 18 | | (b) of Section 201 of this Act upon individuals, trusts, and | 19 | | estates and (ii) 9.57% of the net revenue realized from the tax | 20 | | imposed by subsections (a) and (b) of Section 201 of this Act | 21 | | upon corporations. Beginning February 1, 2023 and continuing | 22 | | through January 31, 2024, the following amounts shall be | 23 | | deposited into the Local Government Distributive Fund: (i) 9.5% | 24 | | of the net revenue realized from the tax imposed by subsections | 25 | | (a) and (b) of Section 201 of this Act upon individuals, | 26 | | trusts, and estates and (ii) 9.785% of the net revenue realized |
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| 1 | | from the tax imposed by subsections (a) and (b) of Section 201 | 2 | | of this Act upon corporations. Beginning on February 1, 2024, | 3 | | the following amounts shall be deposited into the Local | 4 | | Government Distributive Fund: 10% of the net revenue realized | 5 | | from the
tax imposed on individuals, trusts, estates, and | 6 | | corporations by
subsections (a) and (b) of Section 201. Net | 7 | | revenue realized for a month shall be defined as the
revenue | 8 | | from the tax imposed by subsections (a) and (b) of Section 201 | 9 | | of this
Act which is deposited in the General Revenue Fund, the | 10 | | Education Assistance
Fund, the Income Tax Surcharge Local | 11 | | Government Distributive Fund, the Fund for the Advancement of | 12 | | Education, and the Commitment to Human Services Fund during the
| 13 | | month minus the amount paid out of the General Revenue Fund in | 14 | | State warrants
during that same month as refunds to taxpayers | 15 | | for overpayment of liability
under the tax imposed by | 16 | | subsections (a) and (b) of Section 201 of this Act. | 17 | | Notwithstanding any provision of law to the contrary, | 18 | | beginning on July 6, 2017 (the effective date of Public Act | 19 | | 100-23), those amounts required under this subsection (b) to be | 20 | | transferred by the Treasurer into the Local Government | 21 | | Distributive Fund from the General Revenue Fund shall be | 22 | | directly deposited into the Local Government Distributive Fund | 23 | | as the revenue is realized from the tax imposed by subsections | 24 | | (a) and (b) of Section 201 of this Act. | 25 | | For State fiscal year 2020 only, notwithstanding any | 26 | | provision of law to the contrary, the total amount of revenue |
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| 1 | | and deposits under this Section attributable to revenues | 2 | | realized during State fiscal year 2020 shall be reduced by 5%. | 3 | | (c) Deposits Into Income Tax Refund Fund. | 4 | | (1) Beginning on January 1, 1989 and thereafter, the | 5 | | Department shall
deposit a percentage of the amounts | 6 | | collected pursuant to subsections (a)
and (b)(1), (2), and | 7 | | (3) of Section 201 of this Act into a fund in the State
| 8 | | treasury known as the Income Tax Refund Fund. Beginning | 9 | | with State fiscal year 1990 and for each fiscal year
| 10 | | thereafter, the percentage deposited into the Income Tax | 11 | | Refund Fund during a
fiscal year shall be the Annual | 12 | | Percentage. For fiscal year 2011, the Annual Percentage | 13 | | shall be 8.75%. For fiscal year 2012, the Annual Percentage | 14 | | shall be 8.75%. For fiscal year 2013, the Annual Percentage | 15 | | shall be 9.75%. For fiscal year 2014, the Annual Percentage | 16 | | shall be 9.5%. For fiscal year 2015, the Annual Percentage | 17 | | shall be 10%. For fiscal year 2018, the Annual Percentage | 18 | | shall be 9.8%. For fiscal year 2019, the Annual Percentage | 19 | | shall be 9.7%. For fiscal year 2020, the Annual Percentage | 20 | | shall be 9.5%. For all other
fiscal years, the
Annual | 21 | | Percentage shall be calculated as a fraction, the numerator | 22 | | of which
shall be the amount of refunds approved for | 23 | | payment by the Department during
the preceding fiscal year | 24 | | as a result of overpayment of tax liability under
| 25 | | subsections (a) and (b)(1), (2), and (3) of Section 201 of | 26 | | this Act plus the
amount of such refunds remaining approved |
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| 1 | | but unpaid at the end of the
preceding fiscal year, minus | 2 | | the amounts transferred into the Income Tax
Refund Fund | 3 | | from the Tobacco Settlement Recovery Fund, and
the | 4 | | denominator of which shall be the amounts which will be | 5 | | collected pursuant
to subsections (a) and (b)(1), (2), and | 6 | | (3) of Section 201 of this Act during
the preceding fiscal | 7 | | year; except that in State fiscal year 2002, the Annual
| 8 | | Percentage shall in no event exceed 7.6%. The Director of | 9 | | Revenue shall
certify the Annual Percentage to the | 10 | | Comptroller on the last business day of
the fiscal year | 11 | | immediately preceding the fiscal year for which it is to be
| 12 | | effective. | 13 | | (2) Beginning on January 1, 1989 and thereafter, the | 14 | | Department shall
deposit a percentage of the amounts | 15 | | collected pursuant to subsections (a)
and (b)(6), (7), and | 16 | | (8), (c) and (d) of Section 201
of this Act into a fund in | 17 | | the State treasury known as the Income Tax
Refund Fund. | 18 | | Beginning
with State fiscal year 1990 and for each fiscal | 19 | | year thereafter, the
percentage deposited into the Income | 20 | | Tax Refund Fund during a fiscal year
shall be the Annual | 21 | | Percentage. For fiscal year 2011, the Annual Percentage | 22 | | shall be 17.5%. For fiscal year 2012, the Annual Percentage | 23 | | shall be 17.5%. For fiscal year 2013, the Annual Percentage | 24 | | shall be 14%. For fiscal year 2014, the Annual Percentage | 25 | | shall be 13.4%. For fiscal year 2015, the Annual Percentage | 26 | | shall be 14%. For fiscal year 2018, the Annual Percentage |
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| 1 | | shall be 17.5%. For fiscal year 2019, the Annual Percentage | 2 | | shall be 15.5%. For fiscal year 2020, the Annual Percentage | 3 | | shall be 14.25%. For all other fiscal years, the Annual
| 4 | | Percentage shall be calculated
as a fraction, the numerator | 5 | | of which shall be the amount of refunds
approved for | 6 | | payment by the Department during the preceding fiscal year | 7 | | as
a result of overpayment of tax liability under | 8 | | subsections (a) and (b)(6),
(7), and (8), (c) and (d) of | 9 | | Section 201 of this Act plus the
amount of such refunds | 10 | | remaining approved but unpaid at the end of the
preceding | 11 | | fiscal year, and the denominator of
which shall be the | 12 | | amounts which will be collected pursuant to subsections (a)
| 13 | | and (b)(6), (7), and (8), (c) and (d) of Section 201 of | 14 | | this Act during the
preceding fiscal year; except that in | 15 | | State fiscal year 2002, the Annual
Percentage shall in no | 16 | | event exceed 23%. The Director of Revenue shall
certify the | 17 | | Annual Percentage to the Comptroller on the last business | 18 | | day of
the fiscal year immediately preceding the fiscal | 19 | | year for which it is to be
effective. | 20 | | (3) The Comptroller shall order transferred and the | 21 | | Treasurer shall
transfer from the Tobacco Settlement | 22 | | Recovery Fund to the Income Tax Refund
Fund (i) $35,000,000 | 23 | | in January, 2001, (ii) $35,000,000 in January, 2002, and
| 24 | | (iii) $35,000,000 in January, 2003. | 25 | | (d) Expenditures from Income Tax Refund Fund. | 26 | | (1) Beginning January 1, 1989, money in the Income Tax |
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| 1 | | Refund Fund
shall be expended exclusively for the purpose | 2 | | of paying refunds resulting
from overpayment of tax | 3 | | liability under Section 201 of this Act
and for
making | 4 | | transfers pursuant to this subsection (d). | 5 | | (2) The Director shall order payment of refunds | 6 | | resulting from
overpayment of tax liability under Section | 7 | | 201 of this Act from the
Income Tax Refund Fund only to the | 8 | | extent that amounts collected pursuant
to Section 201 of | 9 | | this Act and transfers pursuant to this subsection (d)
and | 10 | | item (3) of subsection (c) have been deposited and retained | 11 | | in the
Fund. | 12 | | (3) As soon as possible after the end of each fiscal | 13 | | year, the Director
shall
order transferred and the State | 14 | | Treasurer and State Comptroller shall
transfer from the | 15 | | Income Tax Refund Fund to the Personal Property Tax
| 16 | | Replacement Fund an amount, certified by the Director to | 17 | | the Comptroller,
equal to the excess of the amount | 18 | | collected pursuant to subsections (c) and
(d) of Section | 19 | | 201 of this Act deposited into the Income Tax Refund Fund
| 20 | | during the fiscal year over the amount of refunds resulting | 21 | | from
overpayment of tax liability under subsections (c) and | 22 | | (d) of Section 201
of this Act paid from the Income Tax | 23 | | Refund Fund during the fiscal year. | 24 | | (4) As soon as possible after the end of each fiscal | 25 | | year, the Director shall
order transferred and the State | 26 | | Treasurer and State Comptroller shall
transfer from the |
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| 1 | | Personal Property Tax Replacement Fund to the Income Tax
| 2 | | Refund Fund an amount, certified by the Director to the | 3 | | Comptroller, equal
to the excess of the amount of refunds | 4 | | resulting from overpayment of tax
liability under | 5 | | subsections (c) and (d) of Section 201 of this Act paid
| 6 | | from the Income Tax Refund Fund during the fiscal year over | 7 | | the amount
collected pursuant to subsections (c) and (d) of | 8 | | Section 201 of this Act
deposited into the Income Tax | 9 | | Refund Fund during the fiscal year. | 10 | | (4.5) As soon as possible after the end of fiscal year | 11 | | 1999 and of each
fiscal year
thereafter, the Director shall | 12 | | order transferred and the State Treasurer and
State | 13 | | Comptroller shall transfer from the Income Tax Refund Fund | 14 | | to the General
Revenue Fund any surplus remaining in the | 15 | | Income Tax Refund Fund as of the end
of such fiscal year; | 16 | | excluding for fiscal years 2000, 2001, and 2002
amounts | 17 | | attributable to transfers under item (3) of subsection (c) | 18 | | less refunds
resulting from the earned income tax credit. | 19 | | (5) This Act shall constitute an irrevocable and | 20 | | continuing
appropriation from the Income Tax Refund Fund | 21 | | for the purpose of paying
refunds upon the order of the | 22 | | Director in accordance with the provisions of
this Section. | 23 | | (e) Deposits into the Education Assistance Fund and the | 24 | | Income Tax
Surcharge Local Government Distributive Fund. On | 25 | | July 1, 1991, and thereafter, of the amounts collected pursuant | 26 | | to
subsections (a) and (b) of Section 201 of this Act, minus |
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| 1 | | deposits into the
Income Tax Refund Fund, the Department shall | 2 | | deposit 7.3% into the
Education Assistance Fund in the State | 3 | | Treasury. Beginning July 1, 1991,
and continuing through | 4 | | January 31, 1993, of the amounts collected pursuant to
| 5 | | subsections (a) and (b) of Section 201 of the Illinois Income | 6 | | Tax Act, minus
deposits into the Income Tax Refund Fund, the | 7 | | Department shall deposit 3.0%
into the Income Tax Surcharge | 8 | | Local Government Distributive Fund in the State
Treasury. | 9 | | Beginning February 1, 1993 and continuing through June 30, | 10 | | 1993, of
the amounts collected pursuant to subsections (a) and | 11 | | (b) of Section 201 of the
Illinois Income Tax Act, minus | 12 | | deposits into the Income Tax Refund Fund, the
Department shall | 13 | | deposit 4.4% into the Income Tax Surcharge Local Government
| 14 | | Distributive Fund in the State Treasury. Beginning July 1, | 15 | | 1993, and
continuing through June 30, 1994, of the amounts | 16 | | collected under subsections
(a) and (b) of Section 201 of this | 17 | | Act, minus deposits into the Income Tax
Refund Fund, the | 18 | | Department shall deposit 1.475% into the Income Tax Surcharge
| 19 | | Local Government Distributive Fund in the State Treasury. | 20 | | (f) Deposits into the Fund for the Advancement of | 21 | | Education. Beginning February 1, 2015, the Department shall | 22 | | deposit the following portions of the revenue realized from the | 23 | | tax imposed upon individuals, trusts, and estates by | 24 | | subsections (a) and (b) of Section 201 of this Act, minus | 25 | | deposits into the Income Tax Refund Fund, into the Fund for the | 26 | | Advancement of Education: |
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| 1 | | (1) beginning February 1, 2015, and prior to February | 2 | | 1, 2025, 1/30; and | 3 | | (2) beginning February 1, 2025, 1/26. | 4 | | If the rate of tax imposed by subsection (a) and (b) of | 5 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 6 | | the Department shall not make the deposits required by this | 7 | | subsection (f) on or after the effective date of the reduction. | 8 | | (g) Deposits into the Commitment to Human Services Fund. | 9 | | Beginning February 1, 2015, the Department shall deposit the | 10 | | following portions of the revenue realized from the tax imposed | 11 | | upon individuals, trusts, and estates by subsections (a) and | 12 | | (b) of Section 201 of this Act, minus deposits into the Income | 13 | | Tax Refund Fund, into the Commitment to Human Services Fund: | 14 | | (1) beginning February 1, 2015, and prior to February | 15 | | 1, 2025, 1/30; and | 16 | | (2) beginning February 1, 2025, 1/26. | 17 | | If the rate of tax imposed by subsection (a) and (b) of | 18 | | Section 201 is reduced pursuant to Section 201.5 of this Act, | 19 | | the Department shall not make the deposits required by this | 20 | | subsection (g) on or after the effective date of the reduction. | 21 | | (h) Deposits into the Tax Compliance and Administration | 22 | | Fund. Beginning on the first day of the first calendar month to | 23 | | occur on or after August 26, 2014 (the effective date of Public | 24 | | Act 98-1098), each month the Department shall pay into the Tax | 25 | | Compliance and Administration Fund, to be used, subject to | 26 | | appropriation, to fund additional auditors and compliance |
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| 1 | | personnel at the Department, an amount equal to 1/12 of 5% of | 2 | | the cash receipts collected during the preceding fiscal year by | 3 | | the Audit Bureau of the Department from the tax imposed by | 4 | | subsections (a), (b), (c), and (d) of Section 201 of this Act, | 5 | | net of deposits into the Income Tax Refund Fund made from those | 6 | | cash receipts. | 7 | | (Source: P.A. 100-22, eff. 7-6-17; 100-23, eff. 7-6-17; | 8 | | 100-587, eff. 6-4-18; 100-621, eff. 7-20-18; 100-863, eff. | 9 | | 8-14-18; 100-1171, eff. 1-4-19; 101-8, see Section 99 for | 10 | | effective date; 101-10, eff. 6-5-19; 101-81, eff. 7-12-19; | 11 | | revised 10-1-19.) | 12 | | Section 95. No acceleration or delay. Where this Act makes | 13 | | changes in a statute that is represented in this Act by text | 14 | | that is not yet or no longer in effect (for example, a Section | 15 | | represented by multiple versions), the use of that text does | 16 | | not accelerate or delay the taking effect of (i) the changes | 17 | | made by this Act or (ii) provisions derived from any other | 18 | | Public Act.
| 19 | | Section 99. Effective date. This Act takes effect upon | 20 | | becoming law.
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