House Sponsors: STROGER-MATHIAS AND GILES. Senate Sponsors: HALVORSON Short description: 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 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status