IL SB2206 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Bipartisan Bill
Status: Introduced on February 10 2023 - 25% progression
Action: 2023-05-11 - Added as Co-Sponsor Sen. Linda Holmes
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Provides that an amount equal to 10% of the net revenue realized from the State income tax during the preceding month shall be transferred from the General Revenue Fund to the Local Government Distributive Fund (currently, the amount transferred is equal to the sum of (i) 6.16% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, (ii) 6.85% of the net revenue realized from the tax imposed upon corporations, and (iii) 6.16% of the net revenue realized from the tax imposed upon electing pass-through entities). Effective immediately.

Tracking Information

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Title

INC TX-LGDF

Sponsors


History

DateChamberAction
2023-05-11SenateAdded as Co-Sponsor Sen. Linda Holmes
2023-03-29SenateAdded as Co-Sponsor Sen. Cristina Castro
2023-03-21SenateAdded as Co-Sponsor Sen. Dale Fowler
2023-03-21SenateAdded as Co-Sponsor Sen. Bill Cunningham
2023-03-17SenateAdded as Co-Sponsor Sen. John F. Curran
2023-03-10SenateRule 3-9(a) / Re-referred to Assignments
2023-03-10SenateAdded as Co-Sponsor Sen. Suzy Glowiak Hilton
2023-03-09SenateAdded as Co-Sponsor Sen. Dave Syverson
2023-03-09SenateAdded as Co-Sponsor Sen. Craig Wilcox
2023-03-07SenateAdded as Co-Sponsor Sen. Patrick J. Joyce
2023-02-28SenateAdded as Chief Co-Sponsor Sen. Seth Lewis
2023-02-28SenateAssigned to Appropriations
2023-02-10SenateReferred to Assignments
2023-02-10SenateFirst Reading
2023-02-10SenateFiled with Secretary by Sen. Donald P. DeWitte

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355901Amended CodeCitation Text

Illinois State Sources


Bill Comments

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