INC TAX & PROP TAX-EDUCATION House SponsorsRep. George Scully, Jr. 1/11/2005HouseSession Sine Die 30 ILCS 105/5.595 new30 ILCS 105/6z-59 new35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/202.5 new35 ILCS 5/804from Ch. 120, par. 8-80435 ILCS 5/901from Ch. 120, par. 9-90135 ILCS 200/18-178 new35 ILCS 200/18-25535 ILCS 200/20-1535 ILCS 200/21-30 Amends the State Finance Act, the Illinois Income Tax Act, and the Property Tax Code. Beginning on July 1, 2003, increases income taxes and provides that two-thirds of the increased revenue shall be deposited into the School District Property Tax Relief Fund to fund property tax abatements and that one-third of the increased revenue shall be deposited into the Common School Fund. Provides a mechanism for property tax abatements. Effective July 1, 2003. 2/28/2003HouseFiled with the Clerk by Rep. George Scully, Jr. 2/28/2003HouseFirst Reading 2/28/2003HouseReferred to Rules Committee 3/5/2003HouseAssigned to Revenue Committee 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005HouseSession Sine Die