INC TAX-INCREASE RATE Senate SponsorsSen. John M. Sullivan 1/12/2011SenateSession Sine Die 30 ILCS 105/5.719 new30 ILCS 105/6z-76 new30 ILCS 105/8.3from Ch. 127, par. 144.335 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/202.5 new35 ILCS 5/901from Ch. 120, par. 9-901625 ILCS 5/15-111from Ch. 95 1/2, par. 15-111625 ILCS 5/15-112from Ch. 95 1/2, par. 15-112Amends the State Finance Act. Creates the State Capital Projects Fund. Provides that the sum of $146,000,000 shall be transferred from the State Capital Projects Fund to the General Revenue Fund in January and July of each year. Provides that the balance remaining in the Fund must be used for capital projects and the payment of debt service on bonds issued for capital projects. Provides that moneys in the Road Fund may be appropriated to and expended by the Illinois Department of Transportation only. Amends the Illinois Income Tax Act. Increases the tax rate to 3.375% for individuals, trusts, and estates, and 5.4% for corporations. Provides that the additional proceeds attributable to the increase must be deposited into the State Capital Projects Fund. Amends the Illinois Vehicle Code to increase various weight limits. Effective immediately. 2/20/2009SenateFiled with Secretary by Sen. John M. Sullivan 2/20/2009SenateFirst Reading 2/20/2009SenateReferred to Assignments 3/4/2009SenateAssigned to Executive 3/12/2009SenateTo Executive Subcommittee on State And Local Government 3/13/2009SenateRule 2-10 Committee Deadline Established As April 3, 2009 3/26/2009SenatePostponed - Executive 4/3/2009SenateRule 3-9(a) / Re-referred to Assignments 1/12/2011SenateSession Sine Die