IL HB2087 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Bipartisan Bill
Status: Introduced on February 2 2023 - 25% progression
Action: 2023-05-24 - Added Co-Sponsor Rep. Jason Bunting
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Provides that the following amounts shall be deposited into the Local Government Distributive Fund as the revenue is realized from the specified taxes: (i) 8% of the net revenue realized from the tax imposed under the Act upon individuals, trusts, and estates; (ii) 8% of the net revenue realized from the tax imposed by the Act upon electing pass-through entities; and (iii) 9.11% of the net revenue realized from the tax imposed by the Act upon corporations. Amends the State Revenue Sharing Act to provide that amounts paid into the Local Government Distributive Fund are appropriated on a continuing basis. Effective July 1, 2023.

Tracking Information

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Title

INC TX-LGDF

Sponsors


History

DateChamberAction
2023-05-24HouseAdded Co-Sponsor Rep. Jason Bunting
2023-05-09HouseAdded Co-Sponsor Rep. Norma Hernandez
2023-04-06HouseAdded Co-Sponsor Rep. Brad Stephens
2023-03-22HouseAdded Co-Sponsor Rep. Dan Ugaste
2023-03-22HouseAdded Co-Sponsor Rep. Jackie Haas
2023-03-21HouseAdded Co-Sponsor Rep. Suzanne M. Ness
2023-03-21HouseRemoved Co-Sponsor Rep. Hoan Huynh
2023-03-21HouseAdded Co-Sponsor Rep. Hoan Huynh
2023-03-20HouseRemoved Co-Sponsor Rep. Tim Ozinga
2023-03-20HouseAdded Co-Sponsor Rep. Tim Ozinga
2023-03-16HouseAdded Co-Sponsor Rep. Amy L. Grant
2023-03-15HouseAdded Co-Sponsor Rep. Joe C. Sosnowski
2023-03-10HouseRule 19(a) / Re-referred to Rules Committee
2023-03-09HouseTo Revenue-Income Tax Subcommittee
2023-03-08HouseAdded Co-Sponsor Rep. Debbie Meyers-Martin
2023-03-01HouseAdded Co-Sponsor Rep. Jennifer Sanalitro
2023-02-28HouseAssigned to Revenue & Finance Committee
2023-02-27HouseAdded Co-Sponsor Rep. Michael J. Kelly
2023-02-16HouseAdded Chief Co-Sponsor Rep. Nicholas K. Smith
2023-02-15HouseAdded Co-Sponsor Rep. Martin J. Moylan
2023-02-15HouseAdded Co-Sponsor Rep. Robert "Bob" Rita
2023-02-15HouseAdded Co-Sponsor Rep. Jenn Ladisch Douglass
2023-02-14HouseAdded Co-Sponsor Rep. Matt Hanson
2023-02-07HouseReferred to Rules Committee
2023-02-07HouseFirst Reading
2023-02-02HouseFiled with the Clerk by Rep. Anthony DeLuca

Code Citations

ChapterArticleSectionCitation TypeStatute Text
301152Amended CodeCitation Text
355901Amended CodeCitation Text

Illinois State Sources


Bill Comments

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