Illinois House Bill 3750 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that, beginning on February 1, 2015, the Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 10% of the net revenue realized from the tax imposed under the Act during the preceding month (instead of: (i) beginning on February 1, 2015 and through January 31, 2025, an amount equal to the sum of 8% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 9.14% of the net revenue realized from the tax imposed on corporations; and (ii) beginning on February 1, 2025, an amount equal to the sum of 9.23% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, and 10% of the net revenue realized from the tax imposed on corporations).

INC TX-LOCAL GOV DISTRIBUTIVE

Rep. Anthony DeLuca [D]

Rep. Carol Sente [D]

Date	Chamber	Action
2014-12-03	House	Session Sine Die
2014-03-26	House	Added Chief Co-Sponsor Rep. Carol A. Sente
2013-11-07	House	Referred to Rules Committee
2013-11-07	House	First Reading
2013-11-07	House	Filed with the Clerk by Rep. Anthony DeLuca

Chapter	Article	Section	Citation Type	Statute Text
30	115	1	Amended Code	Citation Text
35	5	901	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3750&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB3750.htm