Bill Title: 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.

Spectrum: Bipartisan Bill

Status: (Introduced) 2023-05-11 - Added as Co-Sponsor Sen. Linda Holmes [SB2206 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-10	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB2206

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2206 currently on file.

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