BUDGET IMPLEMENTATION-FY2005 Senate SponsorsSen. Terry Link-Mattie Hunter-Jeffrey M. Schoenberg House Sponsors(Rep. Tom Cross-Michael J. Madigan-Barbara Flynn Currie-Mark H. Beaubien, Jr.-Gary Hannig) 7/30/2004SenatePublic Act . . . . . . . . . 93-0840 New ActCreates the FY2005 Budget Implementation Act. Provides that the purpose of the Act is to make the changes in State programs that are necessary to implement the Governor's FY2005 budget recommendations.House Amendment No. 1 Deletes reference to:New ActAdds reference to:35 ILCS 5/203from Ch. 120, par. 2-20335 ILCS 5/205from Ch. 120, par. 2-20535 ILCS 5/305from Ch. 120, par. 3-30535 ILCS 5/1501from Ch. 120, par. 15-1501Deletes everything. Amends the Illinois Income Tax Act. Recaptures as business income all expenses, without limitation, deducted in prior years related to an asset or business that in prior years was classified as business income and in a later year is now demonstrated to be non-business income. Defines "business income" to mean all income that may be treated as apportionable business income under the U.S. Constitution. Provides that business income is net of the deductions allocable thereto. Defines "investment partnership". Provides that, except for in certain circumstances, income received by a nonresident partner of an investment partnership will be treated as nonbusiness income if the income is received from an investment partnership. Makes other changes.Pension Note (Economic and Fiscal Commission) Senate Bill 2207, as amended by House Amendment 1, would not impact any public pension fund or retirement system in Illinois.Judicial Note (Admin Office of the Illinois Courts) Senate Bill 2207, 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) As amended by HA1, would not affect the level of State indebtedness.Housing Affordability Impact Note (Housing Development Authority) Senate Bill 2207, as amended by House Amendment 1, will have no effect on constructing, purchasing, owning, or selling a single-family residence.Fiscal Note (Department of Revenue) As amended by HA1, amends the definition of "business income" in the Income Tax Act. Defines business income to mean all income apportionable under the United States Constitution. Will increase revenue by an estimated $29 million.Balanced Budget Note (Office of Management and Budget) Senate Bill 2207, as amended by House Amendment 1, will have a fiscal impact of approximately $29 million in additional revenues for the State as provided for in the Governor's Recommended Balanced Budget.Correctional Note (Dept of Corrections) Senate Bill 2207, 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 2207, 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 2207, as amended by House Amendment 1, does not create a State mandate under the State Mandates Act.House Amendment No. 2 Deletes reference to:35 ILCS 5/1501Adds reference to:New Act215 ILCS 5/416820 ILCS 305/4d15 ILCS 335/2from Ch. 124, par. 2215 ILCS 335/12from Ch. 124, par. 3220 ILCS 1605/10.2from Ch. 120, par. 1160.235 ILCS 120/1cfrom Ch. 120, par. 440c625 ILCS 45/3A-5from Ch. 95 1/2, par. 313A-535 ILCS 105/3-5from Ch. 120, par. 439.3-535 ILCS 105/3-8535 ILCS 110/3-5from Ch. 120, par. 439.33-535 ILCS 110/3-7035 ILCS 115/3-5from Ch. 120, par. 439.103-535 ILCS 115/9from Ch. 120, par. 439.10935 ILCS 120/2-5from Ch. 120, par. 441-535 ILCS 120/3from Ch. 120, par. 44235 ILCS 5/203from Ch. 120, par. 2-20335 ILCS 5/205from Ch. 120, par. 2-20535 ILCS 5/305from Ch. 120, par. 3-30535 ILCS 5/1501from Ch. 120, par. 15-1501625 ILCS 5/2-119from Ch. 95 1/2, par. 2-119625 ILCS 5/3-820from Ch. 95 1/2, par. 3-820625 ILCS 5/3-821from Ch. 95 1/2, par. 3-821625 ILCS 5/3-821.2 new625 ILCS 5/11-501from Ch. 95 1/2, par. 11-50135 ILCS 5/501from Ch. 120, par. 5-50135 ILCS 5/905from Ch. 120, par. 9-90535 ILCS 5/1001from Ch. 120, par. 10-100135 ILCS 5/1002from Ch. 120, par. 10-100235 ILCS 5/1005from Ch. 120, par. 10-100535 ILCS 5/1007 new35 ILCS 5/1008 new35 ILCS 5/1405.5 new35 ILCS 5/1405.6 new35 ILCS 5/201from Ch. 120, par. 2-201415 ILCS 5/12.535 ILCS 15/90Creates the FY2005 Budget Implementation (Revenue) Act. Amends various Acts to make changes in State programs that are necessary to implement the Governor's FY2005 budget recommendations concerning revenue. Effective immediately. 1/15/2004SenateFiled with Secretary by Sen. Emil Jones, Jr. 1/15/2004SenateFirst Reading 1/15/2004SenateReferred to Rules 1/29/2004SenateAssigned to State Government 2/19/2004SenateDo Pass State Government; 005-002-000 2/19/2004SenatePlaced on Calendar Order of 2nd Reading February 20, 2004 2/24/2004SenateSecond Reading 2/24/2004SenatePlaced on Calendar Order of 3rd Reading February 25, 2004 3/25/2004SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 3/25/2004SenateThird Reading - Passed; 053-003-000 3/25/2004HouseArrived in House 3/25/2004HousePlaced on Calendar Order of First Reading 3/29/2004HouseChief House Sponsor Rep. Michael J. Madigan 3/29/2004HouseFirst Reading 3/29/2004HouseReferred to Rules Committee 3/30/2004HouseAssigned to Executive Committee 4/29/2004HouseDo Pass / Standard Debate Executive Committee; 007-005-000 4/29/2004HousePlaced on Calendar 2nd Reading - Standard Debate 5/4/2004HouseRe-committed 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 5/24/2004HouseJudicial Note Filed As Amended by HA 1 5/24/2004HouseState Debt Impact Note Filed As Amended by HA 1 5/24/2004HouseHousing Affordability 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 7/23/2004HouseRecalled to Second Reading - Standard Debate 7/23/2004HouseHeld on Calendar Order of Second Reading - Standard Debate 7/24/2004HouseAlternate Chief Sponsor Changed to Rep. Tom Cross 7/24/2004HouseAdded Alternate Chief Co-Sponsor Rep. Michael J. Madigan 7/24/2004HouseAdded Alternate Chief Co-Sponsor Rep. Mark H. Beaubien, Jr. 7/24/2004HouseHouse Amendment No. 2 Filed with Clerk by Rep. Tom Cross 7/24/2004HouseHouse Amendment No. 2 Referred to Rules Committee 7/24/2004HouseHouse Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000 7/24/2004HouseHouse Amendment No. 2 Motion to Suspend Rule 25 - Prevailed by Voice Vote 7/24/2004SenateChief Sponsor Changed to Sen. Terry Link 7/24/2004HouseHouse Amendment No. 2 Adopted by Voice Vote 7/24/2004HousePlaced on Calendar Order of 3rd Reading - Standard Debate 7/24/2004House3/5 Vote Required 7/24/2004HouseThird Reading - Standard Debate - Passed 086-029-000 7/24/2004SenateSecretary's Desk - Concurrence House Amendment(s) 01,02 7/24/2004SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01,02-July 24, 2004 7/24/2004SenateHouse Amendment No. 1 Motion to Concur Filed with Secretary Sen. Terry Link 7/24/2004SenateHouse Amendment No. 1 Motion to Concur Referred to Rules 7/24/2004SenateHouse Amendment No. 2 Motion to Concur Filed with Secretary Sen. Terry Link 7/24/2004SenateHouse Amendment No. 2 Motion to Concur Referred to Rules 7/24/2004SenateAdded as Chief Co-Sponsor Sen. Jeffrey M. Schoenberg 7/24/2004SenateHouse Amendment No. 1 Motion to Concur Be Approved for Consideration Rules 7/24/2004SenateHouse Amendment No. 2 Motion to Concur Be Approved for Consideration Rules 7/24/2004Senate3/5 Vote Required 7/24/2004SenateHouse Amendment No. 1 Senate Concurs 055-000-001 7/24/2004SenateHouse Amendment No. 2 Senate Concurs 055-000-001 7/24/2004SenatePassed Both Houses 7/30/2004SenateSent to the Governor 7/30/2004SenateGovernor Approved 7/30/2004SenateEffective Date July 30, 2004 7/30/2004SenatePublic Act . . . . . . . . . 93-0840