Illinois General Assembly - Bill Status for SB1550
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 Bill Status of SB1550  102nd General Assembly

Short Description:  INC TX-LGDF

Senate Sponsors
Sen. Donald P. DeWitte, Jil Tracy and John F. Curran

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/901from Ch. 120, par. 9-901

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that an amount equal to 10% of the net revenue realized from the State income tax during the preceding month shall be transferred from the General Revenue Fund to the Local Government Distributive Fund (currently, the amount transferred is equal to the sum of (i) 6.06% of the net revenue realized from the tax imposed upon individuals, trusts, and estates and (ii) 6.85% of the net revenue realized from the tax imposed upon corporations).

DateChamber Action
  2/15/2019SenateFiled with Secretary by Sen. Donald P. DeWitte
  2/15/2019SenateFirst Reading
  2/15/2019SenateReferred to Assignments
  2/27/2019SenateAssigned to Revenue
  3/6/2019SenatePostponed - Revenue
  3/22/2019SenateRule 3-9(a) / Re-referred to Assignments
  2/25/2020SenateAdded as Co-Sponsor Sen. Jil Tracy
  2/27/2020SenateAdded as Co-Sponsor Sen. John F. Curran
  1/13/2021SenateSession Sine Die

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