STROGER-MATHIAS AND GILES.
LOC GVT DISTRB FUND-DEPOSIT
Synopsis of Bill as introduced:
Amends the State Revenue Sharing Act and the Illinois Income Tax
Act. Requires the Department of Revenue to deposit moneys directly
into the Local Government Distributive Fund (now, moneys are
transferred by the State Treasurer) based on "amounts collected" as
income tax (now, based on "net revenue").
STATE DEBT NOTE (Economic and Fiscal Commission)
There is no direct impact on the level of State indebtedness.
BALANCED BUDGET NOTE (Bureau of the Budget)
Since the bill is not a supplemental appropriation, the Balanc-
ed Budget Note Act is inapplicable.
FISCAL NOTE (Dept. of Revenue)
HB 495 does not create a fiscal impact for the State.
HOUSE AMENDMENT NO. 1.
Deletes everything. Reinserts the provisions of the bill but
provides that 10% (now 1/10) of the amounts collected shall be
deposited into the Local Government Distributive Fund.
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status