MAHAR-WALSH,T. (MCCARTHY-KOSEL-PARKE-DAVIS,STEVE-COWLISHAW) 35 ILCS 5/203 from Ch. 120, par. 2-203 Amends the Illinois Income Tax Act. Allows a deduction from adjusted gross income, for taxable years ending on or after December 31, 2001, of any compensation paid to a resident in 2001 or thereafter by reason of being a member of the Illinois National Guard (now, a deduction is allowed for any compensation paid to a resident for annual training performed pursuant to Sections 502 and 503, Title 32, United States Code as a member of the Illinois National Guard). Exempts the deduction from the Act's sunset requirements. Effective immediately. FISCAL NOTE (Department of Revenue) Based on the most recent statistics from the Department of Military Affairs, the total additional amount of income that may be deducted pursuant to SB 52 is estimated at $81.8 million, resulting in an estimated reduction in income tax revenues of $2.5 million. JAN-31-2001 S FIRST READING JAN-31-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-01-2001 S ASSIGNED TO COMMITTEE REVENUE MAR-22-2001 S DO PASS 008-000-000 SREV MAR-22-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-27 MAR-28-2001 S SECOND READING MAR-28-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-03-29 MAR-29-2001 S ADDED AS A CHIEF CO-SPONSOR WALSH,T MAR-29-2001 S THIRD READING - PASSED 055-000-000 MAR-29-2001 H ARRIVE IN HOUSE MAR-29-2001 H PLACED CALENDAR ORDER OF FIRST READING MAR-30-2001 H HOUSE SPONSOR MCCARTHY MAR-30-2001 H FIRST READING MAR-30-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-05-2001 H ADDED AS A JOINT SPONSOR KOSEL APR-05-2001 H ADDED AS A JOINT SPONSOR PARKE APR-06-2001 H ASSIGNED TO COMMITTEE REVENUE APR-19-2001 H ADDED AS A JOINT SPONSOR DAVIS,STEVE APR-19-2001 H ADDED AS A JOINT SPONSOR COWLISHAW MAY-01-2001 H ADDED AS AN ALTERNATE CO-SPONSOR HOLBROOK MAY-03-2001 H DO PASS/SHORT DEBATE 011-000-000 HREV MAY-03-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAY-08-2001 H SECOND READING-SHORT DEBATE MAY-08-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAY-09-2001 H FISCAL NOTE FILED MAY-09-2001 H CALENDAR ORDER 3RD READING-SHORT DEBATE MAY-10-2001 H THIRD READING/SHORT DEBATE/PASSED 113-000-000 MAY-10-2001 S PASSED BOTH HOUSES JUN-08-2001 S SENT TO THE GOVERNOR AUG-03-2001 S GOVERNOR APPROVED AUG-03-2001 S EFFECTIVE DATE 01-08-03 AUG-03-2001 S PUBLIC ACT.............................. 92-0244 END OF INQUIRY Full Text Bill Summary