Bill Title: Amends the Illinois Income Tax Act. Provides that, if the rate of tax is reduced because the State has exceeded the State spending limit, then, beginning with the first distribution to occur after the effective date of the reduction, the State Comptroller shall order transferred and the State Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 1/10 of the net revenue realized under Act during the preceding month. Effective immediately.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2014-12-03 - Session Sine Die
[HB3393 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2013-02-26 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois HB3393 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB3393 currently on file. |
Social Comments on IL HB3393
