Bill Title: 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) 10% of the net revenue realized from the tax imposed under the Act upon individuals, trusts, and estates; (ii) 10% of the net revenue realized from the tax imposed by the Act upon electing pass-through entities; and (iii) 10% 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 immediately.

Spectrum: Moderate Partisan Bill (Republican 5-1)

Status: (Failed) 2025-01-07 - Session Sine Die [HB4062 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Ryan Spain [R]	Primary	Sponsored Bills	HD-073	FollowTheMoney	Ballotpedia	VoteSmart
Representative Tony McCombie [R]	Cosponsor	Sponsored Bills	HD-089	FollowTheMoney	Ballotpedia	VoteSmart
Representative Bradley Stephens [R]	Cosponsor	Sponsored Bills	HD-020	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anthony DeLuca [D]	Cosponsor	Sponsored Bills	HD-080	FollowTheMoney	Ballotpedia	VoteSmart
Representative John Egofske [R]	Cosponsor	Sponsored Bills	HD-082	N/A	Ballotpedia	N/A
Representative Jennifer Sanalitro [R]	Cosponsor	Sponsored Bills	HD-048	FollowTheMoney	Ballotpedia	N/A

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