90th General Assembly
Summary of HB0752
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House Sponsors:
BUGIELSKI-SAVIANO-CAPPARELLI-ZICKUS-BURKE, MADIGAN,MJ, WOJCIK, 
   LOPEZ, SANTIAGO, ROSKAM, MCAULIFFE, JOHNSON,TOM, 
   LYONS,JOSEPH, NOVAK, LEITCH, SMITH,MICHAEL, COWLISHAW, 
   HASSERT, KENNER, STROGER, GILES, BOLAND, 
   HOEFT, CROTTY, LANG, FEIGENHOLTZ, ERWIN, HOLBROOK AND BERGMAN.

Senate Sponsors:
CRONIN-CARROLL-GEO-KARIS

Short description: 
TAX EXEMPTIONS-SCHOOL FUNDING                                              

Synopsis of Bill as introduced:
        Amends the State Finance Act and the  Illinois  Income  Tax  Act.      
   Provides  that a person may forgo claiming certain standard income tax      
   exemptions or the property tax credit and may instead direct that  the      
   additional amount of tax resulting from not claiming the exemptions or      
   credit  shall  be  deposited  into   the Do-It-Yourself School Funding      
   Fund, a special fund created in the State treasury.  Provides that the      
   Department of Revenue shall distribute to  each  school  district  the      
   amount  deposited  into the Fund attributable to taxpayers that reside      
   in that school district. Provides that if a taxpayer does  not  reside      
   in  a  unit  school  district,  the  funds deposited into the Fund and      
   attributable to that taxpayer shall  be  distributed  equally  to  the      
   elementary  school  district  and  high  school  district in which the      
   taxpayer resides.                                                           
          FISCAL NOTE (Dept. of Revenue)                                       
          HB 752, an indeterminate amount of new revenues will be in-          
          creased to be allocated back to school districts. However,           
          HB 752 also will increase the Dept. of Revenue's administrative      
          costs to implement the new allocation sytem.                         
          STATE MANDATES FISCAL NOTE                                           
          In the opinion of DCCA, HB752 fails to create a State mandate.       
        GOVERNOR'S AMENDATORY VETO MESSAGE                                     
        Recommends that the option provided by the Do-It-Yourself School       
   Funding Law shall apply only to original returns for a taxable year         
   ending on or after December 31, 1998 and prior to December 31, 2000.        
 
Last action on Bill: PUBLIC ACT.............................. 90-0553

   Last action date: 97-12-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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