HB5069 Enrolled

LRB095 15255 BDD 41240 b






1
    AN ACT concerning revenue.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 3. The Illinois Income Tax Act is amended  by 
5
changing Section 404 as follows:
 



6
    (35 ILCS 5/404)  (from Ch. 120, par. 4-404)



7
    Sec. 404. Reallocation of Items. 

8
    (a) If it appears to the Director that any agreement, 
9
understanding or
arrangement exists between any persons which 
10
causes any person's base
income allocable to this State to be 
11
improperly or inaccurately reflected,
the Director may adjust 
12
such items of income and deduction, and any factor
taken into 
13
account in allocating income to this State, to such extent as

14
may reasonably be required to determine the base income of such 
15
person
properly allocable to this State.

16
    (b) The Director may not make an adjustment to base income 
17
under this Section that has the same effect as retroactively 
18
applying any amendments to this Act made by Public Act 93-0840, 
19
Public Act 95-0233, or Public Act 95-0707. 
20
(Source: P.A. 76-261.)

 
21
    Section 5. The Property Tax Code is amended  by changing 
22
Section 20-210 as follows:
 



 


 






HB5069 Enrolled
- 2 -
LRB095 15255 BDD 41240 b




1
    (35 ILCS 200/20-210)



2
    Sec. 20-210. Taxes payable in installments; payment under 
3
specification. Except as otherwise provided in Section 21-30, 
4
current taxes shall be payable
in 2 equal installments.  The 
5
collector, when requested by the party paying the
taxes, shall 
6
receive and receipt for the taxes in installments. The 
7
collector shall
may receive taxes on part of any property 
8
charged with taxes when
a
particular specification of the part 
9
is furnished.  If the tax on the remainder
of the property 
10
remains unpaid, the collector shall enter that specification in

11
his or her return, so that the part on which the tax remains 
12
unpaid may be
clearly known.  The tax may be paid on an 
13
undivided share of property.  In that
case, the collector shall 
14
designate on his or her record upon whose undivided
share the 
15
tax has been paid.

16
(Source: P.A. 93-366, eff. 7-24-03.)

 

17
    Section 99. Effective date. This Act takes effect upon 
18
becoming law, except that the changes in Section 5 of the Act 
19
take effect on January 1, 2009.