92nd General Assembly
Summary of HB2057
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Short description: 
PROPERTY TAX RELIEF-GAMBLING                                               

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax  Act.   Provides  that,  beginning      
   with  property  taxes  paid  in  2002, an individual taxpayer who paid      
   residential real property taxes in the taxable year on the  taxpayer's      
   principal  Illinois  residence is entitled to a 5% rebate of the taxes      
   paid.  Amends the Riverboat Gambling Act.  Provides that, beginning on      
   January 1, 2002, in addition to the  tax  imposed  under  the  Act,  a      
   surcharge  is imposed on persons engaged in the business of conducting      
   riverboat gambling operations equal to the amount of the existing tax.      
   Provides that all of the revenue generated by the surcharge  shall  be      
   deposited into the Property Tax Relief Fund and that the moneys in the      
   Fund, subject to appropriation, shall be used exclusively for property      
   tax  relief.   Amends the State Finance Act to create the Property Tax      
   Relief Fund.  Effective immediately.                                        
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


 Full Text  Bill Status