INCOME TAXES-TECH Senate SponsorsSen. Terry Link-Emil Jones, Jr. House Sponsors(Rep. Michael J. Madigan-Barbara Flynn Currie-Gary Hannig) 1/11/2005SenateSession Sine Die 35 ILCS 5/501from Ch. 120, par. 5-501Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning notice.House Amendment No. 1 Deletes reference to:35 ILCS 5/501Adds reference to:35 ILCS 5/502from Ch. 120, par. 5-50235 ILCS 5/709.5 new35 ILCS 5/711from Ch. 120, par. 7-71135 ILCS 5/712from Ch. 120, par. 7-71235 ILCS 5/713from Ch. 120, par. 7-71335 ILCS 5/804from Ch. 120, par. 8-80435 ILCS 5/911from Ch. 120, par. 9-911Deletes everything. Amends the Illinois Income Tax Act. Exempts from filing an Illinois income tax return nonresidents whose Illinois income tax liability is paid in full after taking into account certain credits. For taxable years ending on or after December 31, 2004, (i) allows a credit for certain nonresidents for the amount of tax paid on a composite return on his or her behalf and allows the credit for certain residents but only if permitted by the Department of Revenue by rule; (ii) authorizes the Department to promulgate rules allowing a partnership or Subchapter S corporation which has made an error on its return that affects the Illinois income tax liability of a partner or shareholder to report the changes and claim a refund for any resulting overpayment or pay the resulting underpayment on behalf of the partner or shareholder; (iii) requires partnerships, Subchapter S corporations, and trusts to withhold from nonresident partners, shareholders, and beneficiaries an amount equal to the distributable share of the business income apportionable to Illinois multiplied by the applicable rate of tax and requires that the withholding be treated as a payment of the estimated tax liability or the liability for withholding of the partner, shareholder, or beneficiary. Sets forth procedures for the withholding. Makes other changes.Pension Note (Economic and Fiscal Commission) Senate Bill 833, as amended by House Amendment 1, would not impact any public pension fund or retirement system in Illinois.Housing Affordability Impact Note (Housing Development Authority) This legislation will have no effect on constructing, purchasing, owning, or selling a single-family residence.Judicial Note (Admin Office of the Illinois Courts) Senate Bill 833, as amended by House Amendment 1, would neither increase nor decrease the number of judges needed in the State.State Debt Impact Note (Economic and Fiscal Commission) Senate Bill 833, as amended by House Amendment 1, would not change the amount of authorization for any type of State-issued or State-supported bond,and, therefore, would not affect the level of State indebtedness.Fiscal Note (Department of Revenue) As amended by HA1, requires withholding of non-resident partners and shareholders that elect not to be part of a composite return in Illinois. Will increase State revenue by an estimated $4 million.Balanced Budget Note (Office of Management and Budget) As amended by HA1, approximately $4 million additional revenues for the State as provided for in the Governor's Recommended Balanced Budget.Correctional Note (Dept of Corrections) Senate Bill 833, as amended by House Amendment 1, will have no corrections population or fiscal impact on the Department.Home Rule Note (Department of Commerce and Economic Opportunity) Senate Bill 833, as amended by House Amendment 1, does not pre-empt home rule authority.State Mandates Fiscal Note (Department of Commerce and Economic Opportunity) Senate Bill 833, as amended by House Amendment 1, does not create a State mandate under the State Mandates Act. 2/19/2003SenateFiled with Secretary by Sen. Terry Link 2/19/2003SenateChief Co-Sponsor Sen. Emil Jones, Jr. 2/19/2003SenateFirst Reading 2/19/2003SenateReferred to Rules 3/5/2003SenateAssigned to Executive 3/13/2003SenateDo Pass Executive; 008-005-000 3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003 3/18/2003SenateSecond Reading 3/18/2003SenatePlaced on Calendar Order of 3rd Reading ** March 19, 2003 3/27/2003SenateVerified 3/27/2003SenateThird Reading - Passed; 032-016-002 3/27/2003HouseArrived in House 3/27/2003HousePlaced on Calendar Order of First Reading 3/27/2003HouseChief House Sponsor Rep. Michael J. Madigan 3/27/2003HouseFirst Reading 3/27/2003HouseReferred to Rules Committee 3/31/2003HouseAssigned to Executive Committee 5/2/2003HouseRule 19(a) / Re-referred to Rules Committee 5/14/2003HouseAssigned to Executive Committee 5/14/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003 5/15/2003HouseRe-assigned to Revenue Committee 5/15/2003HouseMotion to Suspend Rule 25 - Prevailed by Voice Vote 6/1/2003HouseRule 19(a) / Re-referred to Rules Committee 5/4/2004HouseAssigned to Revenue Committee 5/13/2004HouseHouse Amendment No. 1 Filed with Clerk by Revenue Committee 5/13/2004HouseHouse Amendment No. 1 Adopted in Revenue Committee; by Voice Vote 5/13/2004HouseDo Pass as Amended / Standard Debate Revenue Committee; 005-004-000 5/13/2004HousePlaced on Calendar 2nd Reading - Standard Debate 5/14/2004HouseCommittee/3rd Reading Deadline Extended-Rule 9(b) May 31, 2004 5/18/2004HouseAdded Alternate Chief Co-Sponsor Rep. Barbara Flynn Currie 5/18/2004HouseAdded Alternate Chief Co-Sponsor Rep. Gary Hannig 5/20/2004HouseSecond Reading - Standard Debate 5/20/2004HousePlaced on Calendar Order of 3rd Reading - Standard Debate 5/21/2004HousePension Note Filed As Amended by HA 1 5/21/2004HouseHousing Affordability Impact Note Filed As Amended by HA 1 5/24/2004HouseJudicial Note Filed As Amended by HA 1 5/24/2004HouseState Debt Impact Note Filed As Amended by HA 1 5/26/2004HouseFiscal Note Filed As Amended by HA 1 5/28/2004HouseBalanced Budget Note Filed As Amended by HA 1 5/30/2004HouseCorrectional Note Filed As Amended by HA 1 5/31/2004HouseFinal Action Deadline Extended-9(b) June 30, 2004 6/3/2004HouseHome Rule Note Filed As Amended by HA 1 6/3/2004HouseState Mandates Fiscal Note Filed As Amended by HA 1 6/30/2004HouseFinal Action Deadline Extended-9(b) July 15, 2004 7/15/2004HouseFinal Action Deadline Extended-9(b) JULY 31, 2004 7/31/2004HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005SenateSession Sine Die