Illinois General Assembly - Bill Status for SB0031

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Bill Status of SB0031 101st General Assembly

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Short Description: BUDGET IMPLEMENTATION-FY2004

Senate Sponsors
Sen. Emil Jones, Jr.

House Sponsors
(Rep. Michael J. Madigan - Barbara Flynn Currie - Gary Hannig)

Last Action

Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

New Act

Synopsis As Introduced
Creates the FY2004 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 FY2004 budget recommendations.

House Committee Amendment No. 1

	Deletes reference to:
	New Act

	Adds reference to:
	35 ILCS 5/207	from Ch. 120, par. 2-207

Deletes everything. Amends the Illinois Income Tax Act. Provides for a reduction in net operating loss and net operating loss carryover for each taxable year ending on or after December 31, 2004 in an amount equal to to the reduction in the net operating loss and net operating loss carryover to the taxable year required under the federal Internal Revenue Code multiplied by a fraction based on the amount of income excluded from gross income for the taxable year under certain provisions of the Internal Revenue Code. Requires the reduction to be made after the determination of Illinois net income for the taxable year.

	Pension Note (Economic and Fiscal Commission)
	Senate Bill 31, 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 31, 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 31, 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 business whose debt has been discharged to reduce the amount of net operating loss by the amount of debt discharged in bankruptcy. Will increase State revenue by an estimated $4 million.

	Balanced Budget Note (Office of Management and Budget)
	SB 31, as amended by HA1, approximately $4 million in additional revenues for the State as provided for in the Governor's recommended balanced budget.

	Correctional Note (Dept of Corrections)
	Senate Bill 31, 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 31, 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 31, as amended by House Amendment 1, does not create a State mandate under the State Mandates Act.

Actions

Date	Chamber	Action
1/9/2003	Senate	Filed with Secretary by Sen. Emil Jones, Jr.
1/9/2003	Senate	First Reading
1/9/2003	Senate	Referred to Rules
3/6/2003	Senate	Assigned to Executive
3/13/2003	Senate	Do Pass Executive; 008-005-000
3/13/2003	Senate	Placed on Calendar Order of 2nd Reading March 18, 2003
3/25/2003	Senate	Second Reading
3/25/2003	Senate	Placed on Calendar Order of 3rd Reading ** March 26, 2003
3/27/2003	Senate	Verified
3/27/2003	Senate	Third Reading - Passed; 032-016-002
3/27/2003	House	Arrived in House
3/27/2003	House	Placed on Calendar Order of First Reading
3/27/2003	House	Chief House Sponsor Rep. Michael J. Madigan
3/27/2003	House	First Reading
3/27/2003	House	Referred to Rules Committee
3/31/2003	House	Assigned to Executive Committee
5/2/2003	House	Rule 19(a) / Re-referred to Rules Committee
5/14/2003	House	Assigned to Executive Committee
5/14/2003	House	Committee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003
5/28/2003	House	Do Pass / Standard Debate Executive Committee; 007-005-000
5/28/2003	House	Placed on Calendar 2nd Reading - Standard Debate
5/28/2003	House	Second Reading - Standard Debate
5/28/2003	House	Held on Calendar Order of Second Reading - Standard Debate
6/1/2003	House	Rule 19(a) / Re-referred to Rules Committee
11/17/2003	House	Approved for Consideration Rules Committee; 004-000-000
11/17/2003	House	Placed on Calendar 2nd Reading - Standard Debate
11/20/2003	House	Added Alternate Chief Co-Sponsor Rep. Gary Hannig
12/22/2003	House	Rule 19(b) / Re-referred to Rules Committee
5/4/2004	House	Assigned to Revenue Committee
5/13/2004	House	House Committee Amendment No. 1 Filed with Clerk by Revenue Committee
5/13/2004	House	House Committee Amendment No. 1 Adopted in Revenue Committee; by Voice Vote
5/13/2004	House	Do Pass as Amended / Standard Debate Revenue Committee; 005-004-000
5/13/2004	House	Placed on Calendar 2nd Reading - Standard Debate
5/14/2004	House	Committee/3rd Reading Deadline Extended-Rule 9(b) May 31, 2004
5/18/2004	House	Added Alternate Chief Co-Sponsor Rep. Barbara Flynn Currie
5/20/2004	House	Second Reading - Standard Debate
5/20/2004	House	Placed on Calendar Order of 3rd Reading - Standard Debate
5/21/2004	House	Pension Note Filed As Amended by HA 1
5/21/2004	House	Housing Affordability Impact Note Filed As Amended by HA 1
5/24/2004	House	Judicial Note Filed As Amended by HA 1
5/24/2004	House	State Debt Impact Note Filed As Amended by HA 1
5/26/2004	House	Fiscal Note Filed As Amended by HA 1
5/28/2004	House	Balanced Budget Note Filed As Amended by HA 1
5/30/2004	House	Correctional Note Filed As Amended by HA 1
5/31/2004	House	Final Action Deadline Extended-9(b) June 30, 2004
6/3/2004	House	Home Rule Note Filed As Amended by HA 1
6/3/2004	House	State Mandates Fiscal Note Filed As Amended by HA 1
6/30/2004	House	Final Action Deadline Extended-9(b) July 15, 2004
7/15/2004	House	Final Action Deadline Extended-9(b) JULY 31, 2004
7/31/2004	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2005	Senate	Session Sine Die

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