92nd General Assembly
Summary of HB3288
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House Sponsors:
CURRIE.

Senate Sponsors:
PETERSON

Short description: 
INCOME TAX-VARIOUS                                                         

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Removes  the  exception  for      
   money and other benefits, other than salary, received by a driver in a      
   ridesharing  arrangement  using a motor vehicle from the definition of      
   "net income" and provides instead for an exemption from the income tax      
   for that amount.  Provides for a deduction  of  dividends  paid  by  a      
   corporation that conducts substantially all of its operations in an         
   enterprise zone (now, does not conduct operations other than in an          
   enterprise zone). Provides that the taxable income of a Subchapter S        
   corporation or a partnership shall include those items that are not,        
   under the Internal Revenue Code, items of the Subchapter S corporation      
   or partnership, but that are required under the Internal Revenue Code       
   to be computed separately by each shareholder according to each             
   shareholder's pro rata share of the adjusted basis of property, amount      
   realized, or other amounts, of the Subchapter S corporation or              
   partnership. Provides that the State Board of Education shall certify       
   school youth vocational programs as qualifying TECH-PREP programs,          
   (now, the State Board of Education and the Department of Revenue            
   certify). Provides that employers must report changes affecting             
   federal income taxes if the change affects the amount of compensation       
   subject to withholding by the employer. Makes changes with respect to       
   notices of deficiency and claims for refund concerning extensions by        
   agreement and decreases in net loss. Provides that interest on tax          
   owed shall not be imposed beginning 60 days (now, 30 days) after a          
   waiver is filed and until a notice of demand is made by the                 
   Department.  Makes other changes.                                           
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          35 ILCS 5/201                                                        
          35 ILCS 5/202                                                        
          35 ILCS 5/203                                                        
          35 ILCS 5/209                                                        
          35 ILCS 5/502                                                        
          35 ILCS 5/506                                                        
          35 ILCS 5/905                                                        
          35 ILCS 5/911                                                        
          35 ILCS 5/1003                                                       
          Adds reference to:                                                   
          35 ILCS 5/101                   from Ch. 120, par. 1-101             
        Deletes everything.  Amends the Illinois Income Tax  Act.   Makes      
   technical changes in a Section concerning the short title.                  
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          35 ILCS 5/101                                                        
          Adds reference to:                                                   
          35 ILCS 5/201                   from Ch. 120, par. 2-201             
          35 ILCS 5/202                   from Ch. 120, par. 2-202             
          35 ILCS 5/203                   from Ch. 120, par. 2-203             
          35 ILCS 5/209                                                        
          35 ILCS 5/303                   from Ch. 120, par. 3-303             
          35 ILCS 5/502                   from Ch. 120, par. 5-502             
          35 ILCS 5/506                   from Ch. 120, par. 5-506             
          35 ILCS 5/701                   from Ch. 120, par. 7-701             
          35 ILCS 5/710                   from Ch. 120, par. 7-710             
          35 ILCS 5/905                   from Ch. 120, par. 9-905             
          35 ILCS 5/911                   from Ch. 120, par. 9-911             
          35 ILCS 5/1501                  from Ch. 120, par. 15-1501           
        Deletes  everything  after  the  enacting  clause.   Amends   the      
   Illinois  Income  Tax  Act.  Removes the exception for money and other      
   benefits, other than salary, received by a  driver  in  a  ridesharing      
   arrangement  using a motor vehicle from the definition of "net income"      
   and provides instead for an exemption from the  income  tax  for  that      
   amount.    Provides for a deduction of dividends paid by a corporation      
   that conducts substantially all of its operations in an enterprise          
   zone (now, does not conduct operations other than in an enterprise          
   zone). Provides that the State Board of Education shall certifiy            
   school youth vocational programs as qualifying TECH-PREP programs           
   (now, the State Board of Education and the Department of Revenue            
   certify). Provides that employers must report changes affecting             
   federal income taxes if the change affects the amount of compensation       
   subject to withholding by the employer. Makes changes with respect to       
   notices of deficiency and claims for refund concerning extensions by        
   agreement and decreases in net loss. Provides that payments of              
   winnings from pari-mutuel wagering facilities licensed in Illinois or       
   from gambling games conducted on a riverboat licensed in Illinois are       
   allocable to this State and that any payor of these winning must            
   withhold Illinois income tax from the winnings unless the winnings are      
   less than $2,000. Raises the threshold from $1,000 to $2,000 for            
   withholding income tax on lottery winnings. Changes a provision             
   concerning the withholding of tax on payments to a resident by a payor      
   maintaining an office or transacting business within this State to          
   state that "payor maintaining an office or transacting business within      
   this State" includes any agency, officer, or employee of this State or      
   of any political subdivision of this State. Provides that for each          
   taxable year beginning on or after January 1, 2002, a taxpayer may          
   make an irrevocable election to treat all income other than                 
   compensation as business income. Makes other changes.                       
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   1


   END OF INQUIRY 
                                                                               



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