Bill Title: Creates the Individual Income Tax Bond Act. Authorizes the State to issue, sell, and provide for the retirement of limited obligation bonds in the total principal amount of $6,000,000,000. Provides that the proceeds of those bonds shall be issued for the purposes of providing financial relief to vendors who do business with the State. Amends the State Finance Act to create the Individual Income Tax Bond Proceeds Fund and the Individual Income Tax Bond Retirement and Interest Fund. Amends the Illinois Income Tax Act to provide for the transfer of certain income tax proceeds into the Individual Income Tax Bond Proceeds Fund. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2019-01-09 - Session Sine Die [SB2218 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2017-06-15	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB2218

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2218 currently on file.

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