TURNER,ART-CURRIE-DAVIS,MONIQUE-FEIGENHOLTZ-GARRETT, BOLAND, BLACK, LYONS,EILEEN AND SCHOENBERG. (OBAMA-CLAYBORNE-TROTTER) 35 ILCS 5/212 Amends the Illinois Income Tax Act. Deletes language that repeals the earned income tax credit on June 1, 2003. Effective September 1, 2002. FISCAL NOTE (Department of Revenue) For income tax returns filed in 2001 for tax year 2000, the aggregate amount of earned income tax credits (EICs) claimed by Illinois taxpayers amounted to approximately $39.9 million. The Department received an additional $35 million transfer from the Tobacco Settlement Fund to the Income Tax Refund Fund to pay EICs. As noted, the actual cost, to date, for the first year exceeded the appropriation by almost $5 million. The public act creating the EIC provides for the $35 million transfer of funds to pay for the additional refunds for all 3 years. HB 4172 does not provide for the continuation of these transfers. HOUSE AMENDMENT NO. 1. Deletes everything after the enacting clause. Reinserts the bill as introduced but also deletes language that provides that the credit is allowed only for years ending on or before December 31, 2002 (removes the termination date for the credit). Exempts the credit from the sunset requirements of the Act. Effective September 1, 2002. JAN-30-2002 H FILED WITH CLERK JAN-30-2002 H FIRST READING JAN-30-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-05-2002 H ASSIGNED TO COMMITTEE REVENUE FEB-22-2002 H ADDED AS A CO-SPONSOR MCGUIRE FEB-22-2002 H DO PASS/SHORT DEBATE 011-000-000 HREV FEB-22-2002 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAR-20-2002 H ADDED AS A JOINT SPONSOR CURRIE MAR-21-2002 H FISCAL NOTE FILED MAR-21-2002 H SECOND READING-SHORT DEBATE MAR-21-2002 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAR-21-2002 H ADDED AS A JOINT SPONSOR DAVIS,MONIQUE MAR-22-2002 H ADDED AS A JOINT SPONSOR FEIGENHOLTZ MAR-22-2002 H ADDED AS A JOINT SPONSOR GARRETT APR-01-2002 H ADDED AS A CO-SPONSOR BOLAND APR-01-2002 H ADDED AS A CO-SPONSOR BLACK APR-01-2002 H ADDED AS A CO-SPONSOR LYONS,EILEEN APR-01-2002 H RECALLED TO SECOND READING-SHORT DEBATE APR-01-2002 H AMENDMENT NO. 01-TURNER,ART APR-01-2002 H AMENDMENT REFERRED TO HRUL APR-01-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE APR-02-2002 H AMENDMENT NO. 01-TURNER,ART APR-02-2002 H RECOMMENDS BE ADOPTED HRUL/005-000-000 APR-02-2002 H AMENDMENT NO. 01-TURNER,ART APR-02-2002 H ADOPTED APR-02-2002 H PLCD CAL ORDER 3RD READING-SHORT DEBATE APR-04-2002 H ADDED AS A CO-SPONSOR SCHOENBERG APR-04-2002 H THIRD READING/SHORT DEBATE/PASSED 118-000-000 APR-09-2002 S ARRIVE IN SENATE APR-09-2002 S PLACED CALENDAR ORDER OF FIRST READING 02-04-10 APR-11-2002 S CHIEF SPONSOR OBAMA APR-11-2002 S ADDED AS A CHIEF CO-SPONSOR CLAYBORNE APR-16-2002 S FIRST READING APR-16-2002 S REFERRED TO SENATE RULES COMMITTEE RULES APR-18-2002 S ADDED AS A CHIEF CO-SPONSOR TROTTER JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary