97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3803

 

Introduced 10/5/2011, by Rep. Kent Gaffney

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 115/1  from Ch. 85, par. 611
35 ILCS 5/201.5
35 ILCS 5/901  from Ch. 120, par. 9-901

    Amends the State Revenue Sharing Act and the Illinois Income Tax Act. Provides that, from each income tax payment that the Department of Revenue receives, the Department must deposit certain amounts directly into the Local Government Distributive Fund (currently, the Department deposits the tax payment into the General Revenue Fund and the Treasurer then transfers a percentage of the net revenue to the Local Government Distributive Fund). In a Section concerning the State spending limitation, changes the definition of "State spending" to include amounts appropriated from the Local Government Distributive Fund under the State Revenue Sharing Act. Effective immediately.


LRB097 12879 PJG 57377 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3803LRB097 12879 PJG 57377 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Revenue Sharing Act is amended by
5changing Section 1 as follows:
 
6    (30 ILCS 115/1)  (from Ch. 85, par. 611)
7    Sec. 1. Local Government Distributive Fund.
8    (a) Through June 30, 1994, as soon as may be after the
9first day of each month the Department of Revenue shall certify
10to the Treasurer an amount equal to 1/12 of the net revenue
11realized from the tax imposed by subsections (a) and (b) of
12Section 201 of the Illinois Income Tax Act during the preceding
13month.
14    Beginning July 1, 1994, and continuing through June 30,
151995, as soon as may be after the first day of each month, the
16Department of Revenue shall certify to the Treasurer an amount
17equal to 1/11 of the net revenue realized from the tax imposed
18by subsections (a) and (b) of Section 201 of the Illinois
19Income Tax Act during the preceding month.
20    Beginning July 1, 1995 and continuing through December 31,
212011, as soon as may be after the first day of each month, the
22Department of Revenue shall certify to the Treasurer an amount
23equal to 1/10 of the net revenue realized from the tax imposed

 

 

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1by subsections (a) and (b) of Section 201 of the Illinois
2Income Tax Act during the preceding month.
3    For the purpose of this subsection (a), net Net revenue
4realized for a month shall be defined as the revenue from the
5tax imposed by subsections (a) and (b) of Section 201 of the
6Illinois Income Tax Act which is deposited in the General
7Revenue Fund, the Education Assistance Fund and the Income Tax
8Surcharge Local Government Distributive Fund during the month
9minus the amount paid out of the General Revenue Fund in State
10warrants during that same month as refunds to taxpayers for
11overpayment of liability under the tax imposed by subsections
12(a) and (b) of Section 201 of the Illinois Income Tax Act.
13    Upon receipt of a such certification under this subsection
14(a), the Treasurer shall transfer from the General Revenue Fund
15to a special fund in the State treasury, to be known as the
16"Local Government Distributive Fund", the amount shown on such
17certification.
18    (b) Beginning January 1, 2012, for all payments collected
19on or after December 1, 2011, the Department of Revenue shall,
20immediately upon receipt, deposit into the Local Government
21Distributive Fund the amounts required to be deposited into the
22Local Government Distributive Fund under subsection (b) of
23Section 901 of the Illinois Income Tax Act.
24    (c) All amounts paid into the Local Government Distributive
25Fund in accordance with this Section and allocated pursuant to
26this Act are appropriated on a continuing basis.

 

 

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1(Source: P.A. 88-89.)
 
2    Section 10. The Illinois Income Tax Act is amended by
3changing Sections 201.5 and 901 as follows:
 
4    (35 ILCS 5/201.5)
5    Sec. 201.5. State spending limitation and tax reduction.
6    (a) If, beginning in State fiscal year 2012 and continuing
7through State fiscal year 2015, State spending for any fiscal
8year exceeds the State spending limitation set forth in
9subsection (b) of this Section, then the tax rates set forth in
10subsection (b) of Section 201 of this Act shall be reduced,
11according to the procedures set forth in this Section, to 3% of
12the taxpayer's net income for individuals, trusts, and estates
13and to 4.8% of the taxpayer's net income for corporations. For
14all taxable years following the taxable year in which the rate
15has been reduced pursuant to this Section, the tax rate set
16forth in subsection (b) of Section 201 of this Act shall be 3%
17of the taxpayer's net income for individuals, trusts, and
18estates and 4.8% of the taxpayer's net income for corporations.
19    (b) The State spending limitation for fiscal years 2012
20through 2015 shall be as follows: (i) for fiscal year 2012,
21$36,818,000,000; (ii) for fiscal year 2013, $37,554,000,000;
22(iii) for fiscal year 2014, $38,305,000,000; and (iv) for
23fiscal year 2015, $39,072,000,000.
24    (c) Nothwithstanding any other provision of law to the

 

 

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1contrary, the Auditor General shall examine each Public Act
2authorizing State spending from State general funds and prepare
3a report no later than 30 days after receiving notification of
4the Public Act from the Secretary of State or 60 days after the
5effective date of the Public Act, whichever is earlier. The
6Auditor General shall file the report with the Secretary of
7State and copies with the Governor, the State Treasurer, the
8State Comptroller, the Senate, and the House of
9Representatives. The report shall indicate: (i) the amount of
10State spending set forth in the applicable Public Act; (ii) the
11total amount of State spending authorized by law for the
12applicable fiscal year as of the date of the report; and (iii)
13whether State spending exceeds the State spending limitation
14set forth in subsection (b). The Auditor General may examine
15multiple Public Acts in one consolidated report, provided that
16each Public Act is examined within the time period mandated by
17this subsection (c). The Auditor General shall issue reports in
18accordance with this Section through June 30, 2015 or the
19effective date of a reduction in the rate of tax imposed by
20subsections (a) and (b) of Section 201 of this Act pursuant to
21this Section, whichever is earlier.
22    At the request of the Auditor General, each State agency
23shall, without delay, make available to the Auditor General or
24his or her designated representative any record or information
25requested and shall provide for examination or copying all
26records, accounts, papers, reports, vouchers, correspondence,

 

 

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1books and other documentation in the custody of that agency,
2including information stored in electronic data processing
3systems, which is related to or within the scope of a report
4prepared under this Section. The Auditor General shall report
5to the Governor each instance in which a State agency fails to
6cooperate promptly and fully with his or her office as required
7by this Section.
8    The Auditor General's report shall not be in the nature of
9a post-audit or examination and shall not lead to the issuance
10of an opinion as that term is defined in generally accepted
11government auditing standards.
12    (d) If the Auditor General reports that State spending has
13exceeded the State spending limitation set forth in subsection
14(b) and if the Governor has not been presented with a bill or
15bills passed by the General Assembly to reduce State spending
16to a level that does not exceed the State spending limitation
17within 45 calendar days of receipt of the Auditor General's
18report, then the Governor may, for the purpose of reducing
19State spending to a level that does not exceed the State
20spending limitation set forth in subsection (b), designate
21amounts to be set aside as a reserve from the amounts
22appropriated from the State general funds for all boards,
23commissions, agencies, institutions, authorities, colleges,
24universities, and bodies politic and corporate of the State,
25but not other constitutional officers, the legislative or
26judicial branch, the office of the Executive Inspector General,

 

 

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1or the Executive Ethics Commission. Such a designation must be
2made within 15 calendar days after the end of that 45-day
3period. If the Governor designates amounts to be set aside as a
4reserve, the Governor shall give notice of the designation to
5the Auditor General, the State Treasurer, the State
6Comptroller, the Senate, and the House of Representatives. The
7amounts placed in reserves shall not be transferred, obligated,
8encumbered, expended, or otherwise committed unless so
9authorized by law. Any amount placed in reserves is not State
10spending and shall not be considered when calculating the total
11amount of State spending. Any Public Act authorizing the use of
12amounts placed in reserve by the Governor is considered State
13spending, unless such Public Act authorizes the use of amounts
14placed in reserves in response to a fiscal emergency under
15subsection (g).
16    (e) If the Auditor General reports under subsection (c)
17that State spending has exceeded the State spending limitation
18set forth in subsection (b), then the Auditor General shall
19issue a supplemental report no sooner than the 61st day and no
20later than the 65th day after issuing the report pursuant to
21subsection (c). The supplemental report shall: (i) summarize
22details of actions taken by the General Assembly and the
23Governor after the issuance of the initial report to reduce
24State spending, if any, (ii) indicate whether the level of
25State spending has changed since the initial report, and (iii)
26indicate whether State spending exceeds the State spending

 

 

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1limitation. The Auditor General shall file the report with the
2Secretary of State and copies with the Governor, the State
3Treasurer, the State Comptroller, the Senate, and the House of
4Representatives. If the supplemental report of the Auditor
5General provides that State spending exceeds the State spending
6limitation, then the rate of tax imposed by subsections (a) and
7(b) of Section 201 is reduced as provided in this Section
8beginning on the first day of the first month to occur not less
9than 30 days after issuance of the supplemental report.
10    (f) For any taxable year in which the rates of tax have
11been reduced under this Section, the tax imposed by subsections
12(a) and (b) of Section 201 shall be determined as follows:
13        (1) In the case of an individual, trust, or estate, the
14    tax shall be imposed in an amount equal to the sum of (i)
15    the rate applicable to the taxpayer under subsection (b) of
16    Section 201 (without regard to the provisions of this
17    Section) times the taxpayer's net income for any portion of
18    the taxable year prior to the effective date of the
19    reduction and (ii) 3% of the taxpayer's net income for any
20    portion of the taxable year on or after the effective date
21    of the reduction.
22        (2) In the case of a corporation, the tax shall be
23    imposed in an amount equal to the sum of (i) the rate
24    applicable to the taxpayer under subsection (b) of Section
25    201 (without regard to the provisions of this Section)
26    times the taxpayer's net income for any portion of the

 

 

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1    taxable year prior to the effective date of the reduction
2    and (ii) 4.8% of the taxpayer's net income for any portion
3    of the taxable year on or after the effective date of the
4    reduction.
5        (3) For any taxpayer for whom the rate has been reduced
6    under this Section for a portion of a taxable year, the
7    taxpayer shall determine the net income for each portion of
8    the taxable year following the rules set forth in Section
9    202.5 of this Act, using the effective date of the rate
10    reduction rather than the January 1 dates found in that
11    Section, and the day before the effective date of the rate
12    reduction rather than the December 31 dates found in that
13    Section.
14        (4) If the rate applicable to the taxpayer under
15    subsection (b) of Section 201 (without regard to the
16    provisions of this Section) changes during a portion of the
17    taxable year to which that rate is applied under paragraphs
18    (1) or (2) of this subsection (f), the tax for that portion
19    of the taxable year for purposes of paragraph (1) or (2) of
20    this subsection (f) shall be determined as if that portion
21    of the taxable year were a separate taxable year, following
22    the rules set forth in Section 202.5 of this Act. If the
23    taxpayer elects to follow the rules set forth in subsection
24    (b) of Section 202.5, the taxpayer shall follow the rules
25    set forth in subsection (b) of Section 202.5 for all
26    purposes of this Section for that taxable year.

 

 

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1    (g) Notwithstanding the State spending limitation set
2forth in subsection (b) of this Section, the Governor may
3declare a fiscal emergency by filing a declaration with the
4Secretary of State and copies with the State Treasurer, the
5State Comptroller, the Senate, and the House of
6Representatives. The declaration must be limited to only one
7State fiscal year, set forth compelling reasons for declaring a
8fiscal emergency, and request a specific dollar amount. Unless,
9within 10 calendar days of receipt of the Governor's
10declaration, the State Comptroller or State Treasurer notifies
11the Senate and the House of Representatives that he or she does
12not concur in the Governor's declaration, State spending
13authorized by law to address the fiscal emergency in an amount
14no greater than the dollar amount specified in the declaration
15shall not be considered "State spending" for purposes of the
16State spending limitation.
17    (h) As used in this Section:
18    "State general funds" means the General Revenue Fund, the
19Common School Fund, the General Revenue Common School Special
20Account Fund, the Education Assistance Fund, and the Budget
21Stabilization Fund.
22    "State spending" means (i) the total amount authorized for
23spending by appropriation or statutory transfer from the State
24general funds in the applicable fiscal year, and (ii) any
25amounts the Governor places in reserves in accordance with
26subsection (d) that are subsequently released from reserves

 

 

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1following authorization by a Public Act, and (iii) any amount
2appropriated from the Local Government Distributive Fund under
3subsection (c) of Section 1 of the State Revenue Sharing Act.
4For the purpose of this definition, "appropriation" means
5authority to spend money from a State general fund for a
6specific amount, purpose, and time period, including any
7supplemental appropriation or continuing appropriation, but
8does not include reappropriations from a previous fiscal year.
9For the purpose of this definition, "statutory transfer" means
10authority to transfer funds from one State general fund to any
11other fund in the State treasury, but does not include
12transfers made from one State general fund to another State
13general fund.
14    "State spending limitation" means the amount described in
15subsection (b) of this Section for the applicable fiscal year.
16(Source: P.A. 96-1496, eff. 1-13-11.)
 
17    (35 ILCS 5/901)  (from Ch. 120, par. 9-901)
18    Sec. 901. Collection Authority.
19    (a) In general.
20    The Department shall collect the taxes imposed by this Act.
21The Department shall collect certified past due child support
22amounts under Section 2505-650 of the Department of Revenue Law
23(20 ILCS 2505/2505-650). Except as provided in subsections (c),
24(e), (f), and (g) of this Section, money collected pursuant to
25subsections (a) and (b) of Section 201 of this Act shall be

 

 

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1paid into the General Revenue Fund in the State treasury; money
2collected pursuant to subsections (c) and (d) of Section 201 of
3this Act shall be paid into the Personal Property Tax
4Replacement Fund, a special fund in the State Treasury; and
5money collected under Section 2505-650 of the Department of
6Revenue Law (20 ILCS 2505/2505-650) shall be paid into the
7Child Support Enforcement Trust Fund, a special fund outside
8the State Treasury, or to the State Disbursement Unit
9established under Section 10-26 of the Illinois Public Aid
10Code, as directed by the Department of Healthcare and Family
11Services.
12    (b) Local Government Distributive Fund.
13    Beginning August 1, 1969, and continuing through June 30,
141994, the Treasurer shall transfer each month from the General
15Revenue Fund to a special fund in the State treasury, to be
16known as the "Local Government Distributive Fund", an amount
17equal to 1/12 of the net revenue realized from the tax imposed
18by subsections (a) and (b) of Section 201 of this Act during
19the preceding month. Beginning July 1, 1994, and continuing
20through June 30, 1995, the Treasurer shall transfer each month
21from the General Revenue Fund to the Local Government
22Distributive Fund an amount equal to 1/11 of the net revenue
23realized from the tax imposed by subsections (a) and (b) of
24Section 201 of this Act during the preceding month. Beginning
25July 1, 1995 and continuing through January 31, 2011, the
26Treasurer shall transfer each month from the General Revenue

 

 

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1Fund to the Local Government Distributive Fund an amount equal
2to the net of (i) 1/10 of the net revenue realized from the tax
3imposed by subsections (a) and (b) of Section 201 of the
4Illinois Income Tax Act during the preceding month (ii) minus,
5beginning July 1, 2003 and ending June 30, 2004, $6,666,666,
6and beginning July 1, 2004, zero. Beginning February 1, 2011,
7and continuing through December 31, 2011 January 31, 2015, the
8Treasurer shall transfer each month from the General Revenue
9Fund to the Local Government Distributive Fund an amount equal
10to the sum of (i) 6% (10% of the ratio of the 3% individual
11income tax rate prior to 2011 to the 5% individual income tax
12rate after 2010) of the net revenue realized from the tax
13imposed by subsections (a) and (b) of Section 201 of this Act
14upon individuals, trusts, and estates during the preceding
15month and (ii) 6.86% (10% of the ratio of the 4.8% corporate
16income tax rate prior to 2011 to the 7% corporate income tax
17rate after 2010) of the net revenue realized from the tax
18imposed by subsections (a) and (b) of Section 201 of this Act
19upon corporations during the preceding month. Beginning
20January 1, 2012 and continuing through December 31, 2014, for
21all payments collected on or after December 1, 2011, the
22Department of Revenue shall, immediately upon receipt, deposit
23into the Local Government Distributive Fund (i) 6% (10% of the
24ratio of the 3% individual income tax rate prior to 2011 to the
255% individual income tax rate after 2010) of the amount
26collected from the tax imposed by subsections (a) and (b) of

 

 

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1Section 201 of this Act upon individuals, trusts, and estates,
2minus deposits into the Income Tax Refund Fund under subsection
3(c), and (ii) 6.86% (10% of the ratio of the 4.8% corporate
4income tax rate prior to 2011 to the 7% corporate income tax
5rate after 2010) of the amount collected from the tax imposed
6by subsections (a) and (b) of Section 201 of this Act upon
7corporations, minus deposits into the Income Tax Refund Fund
8under subsection (c). Beginning January 1, 2015, February 1,
92015 and continuing through December 31, 2025 January 31, 2025,
10the Treasurer shall, immediately upon receipt, deposit into
11transfer each month from the General Revenue Fund to the Local
12Government Distributive Fund an amount equal to the sum of (i)
138% (10% of the ratio of the 3% individual income tax rate prior
14to 2011 to the 3.75% individual income tax rate after 2014) of
15the amount collected net revenue realized from the tax imposed
16by subsections (a) and (b) of Section 201 of this Act upon
17individuals, trusts, and estates, minus deposits into the
18Income Tax Refund Fund under subsection (c), during the
19preceding month and (ii) 9.14% (10% of the ratio of the 4.8%
20corporate income tax rate prior to 2011 to the 5.25% corporate
21income tax rate after 2014) of the amount collected net revenue
22realized from the tax imposed by subsections (a) and (b) of
23Section 201 of this Act upon corporations, minus deposits into
24the Income Tax Refund Fund under subsection (c) during the
25preceding month. Beginning January 1, 2025 February 1, 2025,
26the Treasurer shall, immediately upon receipt, deposit into

 

 

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1transfer each month from the General Revenue Fund to the Local
2Government Distributive Fund an amount equal to the sum of (i)
39.23% (10% of the ratio of the 3% individual income tax rate
4prior to 2011 to the 3.25% individual income tax rate after
52024) of the amount collected net revenue realized from the tax
6imposed by subsections (a) and (b) of Section 201 of this Act
7upon individuals, trusts, and estates, minus deposits into the
8Income Tax Refund Fund under subsection (c), during the
9preceding month and (ii) 10% of the amount collected net
10revenue realized from the tax imposed by subsections (a) and
11(b) of Section 201 of this Act upon corporations, minus
12deposits into the Income Tax Refund Fund under subsection (c)
13during the preceding month. Net revenue realized for a month
14shall be defined as the revenue from the tax imposed by
15subsections (a) and (b) of Section 201 of this Act which is
16deposited in the General Revenue Fund, the Education Assistance
17Fund, the Income Tax Surcharge Local Government Distributive
18Fund, the Fund for the Advancement of Education, and the
19Commitment to Human Services Fund during the month minus the
20amount paid out of the General Revenue Fund in State warrants
21during that same month as refunds to taxpayers for overpayment
22of liability under the tax imposed by subsections (a) and (b)
23of Section 201 of this Act.
24    (c) Deposits Into Income Tax Refund Fund.
25        (1) Beginning on January 1, 1989 and thereafter, the
26    Department shall deposit a percentage of the amounts

 

 

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1    collected pursuant to subsections (a) and (b)(1), (2), and
2    (3), of Section 201 of this Act into a fund in the State
3    treasury known as the Income Tax Refund Fund. The
4    Department shall deposit 6% of such amounts during the
5    period beginning January 1, 1989 and ending on June 30,
6    1989. Beginning with State fiscal year 1990 and for each
7    fiscal year thereafter, the percentage deposited into the
8    Income Tax Refund Fund during a fiscal year shall be the
9    Annual Percentage. For fiscal years 1999 through 2001, the
10    Annual Percentage shall be 7.1%. For fiscal year 2003, the
11    Annual Percentage shall be 8%. For fiscal year 2004, the
12    Annual Percentage shall be 11.7%. Upon the effective date
13    of this amendatory Act of the 93rd General Assembly, the
14    Annual Percentage shall be 10% for fiscal year 2005. For
15    fiscal year 2006, the Annual Percentage shall be 9.75%. For
16    fiscal year 2007, the Annual Percentage shall be 9.75%. For
17    fiscal year 2008, the Annual Percentage shall be 7.75%. For
18    fiscal year 2009, the Annual Percentage shall be 9.75%. For
19    fiscal year 2010, the Annual Percentage shall be 9.75%. For
20    fiscal year 2011, the Annual Percentage shall be 8.75%. For
21    fiscal year 2012, the Annual Percentage shall be 8.75%. For
22    all other fiscal years, the Annual Percentage shall be
23    calculated as a fraction, the numerator of which shall be
24    the amount of refunds approved for payment by the
25    Department during the preceding fiscal year as a result of
26    overpayment of tax liability under subsections (a) and

 

 

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1    (b)(1), (2), and (3) of Section 201 of this Act plus the
2    amount of such refunds remaining approved but unpaid at the
3    end of the preceding fiscal year, minus the amounts
4    transferred into the Income Tax Refund Fund from the
5    Tobacco Settlement Recovery Fund, and the denominator of
6    which shall be the amounts which will be collected pursuant
7    to subsections (a) and (b)(1), (2), and (3) of Section 201
8    of this Act during the preceding fiscal year; except that
9    in State fiscal year 2002, the Annual Percentage shall in
10    no event exceed 7.6%. The Director of Revenue shall certify
11    the Annual Percentage to the Comptroller on the last
12    business day of the fiscal year immediately preceding the
13    fiscal year for which it is to be effective.
14        (2) Beginning on January 1, 1989 and thereafter, the
15    Department shall deposit a percentage of the amounts
16    collected pursuant to subsections (a) and (b)(6), (7), and
17    (8), (c) and (d) of Section 201 of this Act into a fund in
18    the State treasury known as the Income Tax Refund Fund. The
19    Department shall deposit 18% of such amounts during the
20    period beginning January 1, 1989 and ending on June 30,
21    1989. Beginning with State fiscal year 1990 and for each
22    fiscal year thereafter, the percentage deposited into the
23    Income Tax Refund Fund during a fiscal year shall be the
24    Annual Percentage. For fiscal years 1999, 2000, and 2001,
25    the Annual Percentage shall be 19%. For fiscal year 2003,
26    the Annual Percentage shall be 27%. For fiscal year 2004,

 

 

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1    the Annual Percentage shall be 32%. Upon the effective date
2    of this amendatory Act of the 93rd General Assembly, the
3    Annual Percentage shall be 24% for fiscal year 2005. For
4    fiscal year 2006, the Annual Percentage shall be 20%. For
5    fiscal year 2007, the Annual Percentage shall be 17.5%. For
6    fiscal year 2008, the Annual Percentage shall be 15.5%. For
7    fiscal year 2009, the Annual Percentage shall be 17.5%. For
8    fiscal year 2010, the Annual Percentage shall be 17.5%. For
9    fiscal year 2011, the Annual Percentage shall be 17.5%. For
10    fiscal year 2012, the Annual Percentage shall be 17.5%. For
11    all other fiscal years, the Annual Percentage shall be
12    calculated as a fraction, the numerator of which shall be
13    the amount of refunds approved for payment by the
14    Department during the preceding fiscal year as a result of
15    overpayment of tax liability under subsections (a) and
16    (b)(6), (7), and (8), (c) and (d) of Section 201 of this
17    Act plus the amount of such refunds remaining approved but
18    unpaid at the end of the preceding fiscal year, and the
19    denominator of which shall be the amounts which will be
20    collected pursuant to subsections (a) and (b)(6), (7), and
21    (8), (c) and (d) of Section 201 of this Act during the
22    preceding fiscal year; except that in State fiscal year
23    2002, the Annual Percentage shall in no event exceed 23%.
24    The Director of Revenue shall certify the Annual Percentage
25    to the Comptroller on the last business day of the fiscal
26    year immediately preceding the fiscal year for which it is

 

 

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1    to be effective.
2        (3) The Comptroller shall order transferred and the
3    Treasurer shall transfer from the Tobacco Settlement
4    Recovery Fund to the Income Tax Refund Fund (i) $35,000,000
5    in January, 2001, (ii) $35,000,000 in January, 2002, and
6    (iii) $35,000,000 in January, 2003.
7    (d) Expenditures from Income Tax Refund Fund.
8        (1) Beginning January 1, 1989, money in the Income Tax
9    Refund Fund shall be expended exclusively for the purpose
10    of paying refunds resulting from overpayment of tax
11    liability under Section 201 of this Act, for paying rebates
12    under Section 208.1 in the event that the amounts in the
13    Homeowners' Tax Relief Fund are insufficient for that
14    purpose, and for making transfers pursuant to this
15    subsection (d).
16        (2) The Director shall order payment of refunds
17    resulting from overpayment of tax liability under Section
18    201 of this Act from the Income Tax Refund Fund only to the
19    extent that amounts collected pursuant to Section 201 of
20    this Act and transfers pursuant to this subsection (d) and
21    item (3) of subsection (c) have been deposited and retained
22    in the Fund.
23        (3) As soon as possible after the end of each fiscal
24    year, the Director shall order transferred and the State
25    Treasurer and State Comptroller shall transfer from the
26    Income Tax Refund Fund to the Personal Property Tax

 

 

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1    Replacement Fund an amount, certified by the Director to
2    the Comptroller, equal to the excess of the amount
3    collected pursuant to subsections (c) and (d) of Section
4    201 of this Act deposited into the Income Tax Refund Fund
5    during the fiscal year over the amount of refunds resulting
6    from overpayment of tax liability under subsections (c) and
7    (d) of Section 201 of this Act paid from the Income Tax
8    Refund Fund during the fiscal year.
9        (4) As soon as possible after the end of each fiscal
10    year, the Director shall order transferred and the State
11    Treasurer and State Comptroller shall transfer from the
12    Personal Property Tax Replacement Fund to the Income Tax
13    Refund Fund an amount, certified by the Director to the
14    Comptroller, equal to the excess of the amount of refunds
15    resulting from overpayment of tax liability under
16    subsections (c) and (d) of Section 201 of this Act paid
17    from the Income Tax Refund Fund during the fiscal year over
18    the amount collected pursuant to subsections (c) and (d) of
19    Section 201 of this Act deposited into the Income Tax
20    Refund Fund during the fiscal year.
21        (4.5) As soon as possible after the end of fiscal year
22    1999 and of each fiscal year thereafter, the Director shall
23    order transferred and the State Treasurer and State
24    Comptroller shall transfer from the Income Tax Refund Fund
25    to the General Revenue Fund any surplus remaining in the
26    Income Tax Refund Fund as of the end of such fiscal year;

 

 

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1    excluding for fiscal years 2000, 2001, and 2002 amounts
2    attributable to transfers under item (3) of subsection (c)
3    less refunds resulting from the earned income tax credit.
4        (5) This Act shall constitute an irrevocable and
5    continuing appropriation from the Income Tax Refund Fund
6    for the purpose of paying refunds upon the order of the
7    Director in accordance with the provisions of this Section.
8    (e) Deposits into the Education Assistance Fund and the
9Income Tax Surcharge Local Government Distributive Fund.
10    On July 1, 1991, and thereafter, of the amounts collected
11pursuant to subsections (a) and (b) of Section 201 of this Act,
12minus deposits into the Income Tax Refund Fund, the Department
13shall deposit 7.3% into the Education Assistance Fund in the
14State Treasury. Beginning July 1, 1991, and continuing through
15January 31, 1993, of the amounts collected pursuant to
16subsections (a) and (b) of Section 201 of the Illinois Income
17Tax Act, minus deposits into the Income Tax Refund Fund, the
18Department shall deposit 3.0% into the Income Tax Surcharge
19Local Government Distributive Fund in the State Treasury.
20Beginning February 1, 1993 and continuing through June 30,
211993, of the amounts collected pursuant to subsections (a) and
22(b) of Section 201 of the Illinois Income Tax Act, minus
23deposits into the Income Tax Refund Fund, the Department shall
24deposit 4.4% into the Income Tax Surcharge Local Government
25Distributive Fund in the State Treasury. Beginning July 1,
261993, and continuing through June 30, 1994, of the amounts

 

 

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1collected under subsections (a) and (b) of Section 201 of this
2Act, minus deposits into the Income Tax Refund Fund, the
3Department shall deposit 1.475% into the Income Tax Surcharge
4Local Government Distributive Fund in the State Treasury.
5    (f) Deposits into the Fund for the Advancement of
6Education. Beginning February 1, 2015, the Department shall
7deposit the following portions of the revenue realized from the
8tax imposed upon individuals, trusts, and estates by
9subsections (a) and (b) of Section 201 of this Act during the
10preceding month, minus deposits into the Income Tax Refund
11Fund, into the Fund for the Advancement of Education:
12        (1) beginning February 1, 2015, and prior to February
13    1, 2025, 1/30; and
14        (2) beginning February 1, 2025, 1/26.
15    If the rate of tax imposed by subsection (a) and (b) of
16Section 201 is reduced pursuant to Section 201.5 of this Act,
17the Department shall not make the deposits required by this
18subsection (f) on or after the effective date of the reduction.
19    (g) Deposits into the Commitment to Human Services Fund.
20Beginning February 1, 2015, the Department shall deposit the
21following portions of the revenue realized from the tax imposed
22upon individuals, trusts, and estates by subsections (a) and
23(b) of Section 201 of this Act during the preceding month,
24minus deposits into the Income Tax Refund Fund, into the
25Commitment to Human Services Fund:
26        (1) beginning February 1, 2015, and prior to February

 

 

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1    1, 2025, 1/30; and
2        (2) beginning February 1, 2025, 1/26.
3    If the rate of tax imposed by subsection (a) and (b) of
4Section 201 is reduced pursuant to Section 201.5 of this Act,
5the Department shall not make the deposits required by this
6subsection (g) on or after the effective date of the reduction.
7(Source: P.A. 96-45, eff. 7-15-09; 96-328, eff. 8-11-09;
896-959, eff. 7-1-10; 96-1496, eff. 1-13-11; 97-72, eff.
97-1-11.)
 
10    Section 99. Effective date. This Act takes effect upon
11becoming law.