TAX DELINQUENCY AMNESTY ACT House SponsorsRep. Marlow H. Colvin 1/11/2005HouseSession Sine Die New Act35 ILCS 735/3-2from Ch. 120, par. 2603-235 ILCS 735/3-3from Ch. 120, par. 2603-335 ILCS 735/3-4from Ch. 120, par. 2603-435 ILCS 735/3-5from Ch. 120, par. 2603-535 ILCS 735/3-6from Ch. 120, par. 2603-635 ILCS 735/3-7.5 Creates the Tax Delinquency Amnesty Act. Provides that the Department of Revenue shall establish a tax amnesty program for delinquent taxes required to be collected by the Department to run for a period from October 1, 2003 though November 30, 2003 and to cover any taxable period ending prior to July 1, 2002. The Department shall not collect any interest or penalties on those taxes or pursue the taxpayer either by civil suit or criminal prosecution for those taxes if amnesty is granted to the taxpayer. Excludes taxpayers who are a party to any criminal investigation or to any pending civil or criminal litigation concerning the tax liability. Requires the Department to adopt rules. Provides that the money collected under the amnesty program (except for personal property tax replacement income tax collected) shall be deposited as follows: (i) one-half into the Common School Fund; (ii) one-half into the General Revenue Fund. Amends the Uniform Penalty and Interest Act. Provides that, if a taxpayer eligible for the amnesty program fails to satisfy the tax liability during the amnesty period, then the interest or penalty or both imposed by the Department on that tax liability shall be imposed in an amount that is 200% of the amount that would otherwise be imposed. Effective immediatelyFiscal Note (Department of Revenue) House Bill 256 requires that from October 1, 2003 through November 30, 2003 the Illinois Department of Revenue shall administer a tax amnesty program. The Department estimates that an amnesty program could bring in between $120 million and $230 million. Because of the extreme difficulty of predicting how taxpayers will react to amnesty, this estimate is an order of magnitude only. A large majority of the revenue will be an acceleration of the tax the Department would ultimately collect. 1/23/2003HouseFiled with the Clerk by Rep. Marlow H. Colvin 1/23/2003HouseFirst Reading 1/23/2003HouseReferred to Rules Committee 2/11/2003HouseAssigned to Revenue Committee 2/27/2003HouseFiscal Note Filed 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005HouseSession Sine Die