Illinois General Assembly

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 Bill Status of HJRCA0042  95th General Assembly


Short Description:  CONAMEND-INCOME TAX RATES

House Sponsors
Rep. Michael K. Smith - Cynthia Soto - Monique D. Davis - Thomas Holbrook - Deborah L. Graham, Maria Antonia Berrios, Daniel J. Burke, Susana A Mendoza, Joseph M. Lyons, Constance A. Howard, Esther Golar, Milton Patterson, Robert Rita and Karen A. Yarbrough

Last Action
DateChamber Action
  5/4/2008HouseTabled Pursuant to Rule 46
ILCON Art. IX, Sec. 3 


Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution with respect to limitations on income taxation. Provides that the rates shall be non-graduated, by category. The categories are (i) individuals (under $250,000), (ii) individuals ($250,000 or more), and (iii) corporations. Combines an individual's income with that of his or her spouse. Provides that in any such tax imposed upon individuals ($250,000 or more), the rate shall be the higher of (i) 6% or (ii) twice the rate imposed upon individuals (under $250,000). Provides that the rate on corporations shall not exceed the rate imposed on individuals (under $250,000) by more than a ratio of 8 to 5. Provides that the basic amount of each standard exemption for individuals (under $250,000) shall be $4,500 or such greater amount as provided by law. Provides that the amounts of $250,000 and $4,500 shall be adjusted each year to reflect changes in a specified consumer price index. Provides for all tax collections to be deposited as provided by law for the deposit of income tax collections, except that one-third of all amounts collected from individuals ($250,000 or more) that is attributable to that part of the rate in excess of the rate imposed on individuals (under $250,000) shall be deposited into each of the following funds: the Revitalize Illinois Schools Fund, the Rebuild Illinois Infrastructure Fund, and the Reward Illinois Working Families Fund; and expenditures from the Schools and Infrastructure funds shall be made only for those respective purposes and only as specifically appropriated by law. Provides that amounts in the Reward Illinois Working Families Fund shall be transferred and deposited as provided by law for the deposit of income tax collections. Makes the provisions self-executing and judicially enforceable. Provides for definition of terms. Effective upon being declared adopted and applies to taxable years 2008 and thereafter.

Actions 
DateChamber Action
  4/3/2008HouseFiled with the Clerk by Rep. Michael K. Smith
  4/3/2008HouseAdded Chief Co-Sponsor Rep. Cynthia Soto
  4/3/2008HouseAdded Chief Co-Sponsor Rep. Monique D. Davis
  4/3/2008HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook
  4/3/2008HouseRead in Full a First Time
  4/3/2008HouseReferred to Rules Committee
  4/3/2008HouseAssigned to State Government Administration Committee
  4/8/2008HouseAdded Co-Sponsor Rep. Maria Antonia Berrios
  4/8/2008HouseAdded Co-Sponsor Rep. Daniel J. Burke
  4/8/2008HouseAdded Co-Sponsor Rep. Susana A Mendoza
  4/8/2008HouseAdded Co-Sponsor Rep. Joseph M. Lyons
  4/8/2008HouseAdded Co-Sponsor Rep. Constance A. Howard
  4/8/2008HouseAdded Co-Sponsor Rep. Esther Golar
  4/8/2008HouseAdded Co-Sponsor Rep. Milton Patterson
  4/8/2008HouseAdded Co-Sponsor Rep. Robert Rita
  4/9/2008HouseDo Pass / Short Debate State Government Administration Committee; 007-006-000
  4/9/2008HousePlaced on Calendar 2nd Reading - Short Debate
  4/9/2008HouseRead in Full a Second Time
  4/9/2008HouseHeld on Calendar Order of Second Reading - Short Debate
  4/10/2008HouseRead in Full a Third Time
  4/10/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/10/2008HouseAdded Chief Co-Sponsor Rep. Deborah L. Graham
  4/10/2008HouseAdded Co-Sponsor Rep. Karen A. Yarbrough
  4/10/2008HouseRemoved from Short Debate Status
  4/10/2008HousePlaced on Calendar Order of 3rd Reading - Unlimited Debate
  4/10/2008House3/5 Vote Required
  4/10/2008HouseThird Reading - Unlimited Debate - Lost 052-060-000
  4/10/2008HouseMotion Filed to Reconsider Vote Rep. Gary Hannig
  5/4/2008HouseTabled Pursuant to Rule 46

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