093_HB3096

 
                                     LRB093 08109 SJM 08313 b

 1        AN ACT in relation to taxation.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Income Tax  Act  is  amended  by
 5    changing  Sections  509 and 510 and by adding Section 507Y as
 6    follows:

 7        (35 ILCS 5/507Y new)
 8        Sec.  507Y.   The  Common  School  Fund  checkoff.    The
 9    Department  shall print on its standard individual income tax
10    form a provision indicating that if the  taxpayer  wishes  to
11    contribute  to  the Common School Fund, as authorized by this
12    amendatory Act of the 93rd General Assembly, he or she may do
13    so by stating the amount of the contribution (not  less  than
14    $1)  on  the return and that the contribution will reduce the
15    taxpayer's refund  or  increase  the  amount  of  payment  to
16    accompany  the  return.    Failure  to  remit  any  amount of
17    increased payment shall reduce the contribution  accordingly.
18    This Section shall not apply to any amended return.

19        (35 ILCS 5/509) (from Ch. 120, par. 5-509)
20        Sec.  509.  Tax  checkoff  explanations.   All individual
21    income   tax   return   forms   shall   contain   appropriate
22    explanations and spaces to enable the taxpayers to  designate
23    contributions  to  the  following  funds:    the  Child Abuse
24    Prevention Fund, to the Illinois Wildlife  Preservation  Fund
25    (as  required  by  the  Illinois Non-Game Wildlife Protection
26    Act), to the Alzheimer's Disease Research Fund  (as  required
27    by  the  Alzheimer's Disease Research Act), to the Assistance
28    to the Homeless Fund (as required by this Act), to the  Penny
29    Severns  Breast  and  Cervical  Cancer  Research Fund, to the
30    National World War II Memorial Fund, to the  Prostate  Cancer
 
                            -2-      LRB093 08109 SJM 08313 b
 1    Research  Fund,  the  Multiple Sclerosis Assistance Fund, the
 2    Common School Fund, and to the Korean War  Veterans  National
 3    Museum and Library Fund.
 4        Each   form   shall   contain   a   statement   that  the
 5    contributions will reduce the taxpayer's refund  or  increase
 6    the  amount  of  payment to accompany the return.  Failure to
 7    remit any  amount  of  increased  payment  shall  reduce  the
 8    contribution accordingly.
 9        If,  on October 1 of any year, the total contributions to
10    any one of the funds made under this  Section  do  not  equal
11    $100,000 or more, the explanations and spaces for designating
12    contributions   to   the  fund  shall  be  removed  from  the
13    individual income tax return forms for the following and  all
14    subsequent years and all subsequent contributions to the fund
15    shall be refunded to the taxpayer.
16    (Source: P.A.  91-104,  eff.  7-13-99;  91-107, eff. 7-13-99;
17    91-357, eff.  7-29-99;  91-833,  eff.  1-1-01;  91-836,  eff.
18    1-1-01; 92-84, eff. 7-1-02; 92-198, eff. 8-1-01; 92-651, eff.
19    7-11-02; 92-772, eff. 8-6-02; revised 1-2-03.)

20        (35 ILCS 5/510) (from Ch. 120, par. 5-510)
21        Sec.  510.  Determination  of  amounts  contributed.  The
22    Department shall determine the total  amount  contributed  to
23    each  of  the following: the Child Abuse Prevention Fund, the
24    Illinois Wildlife Preservation Fund, the  Assistance  to  the
25    Homeless  Fund,  the  Alzheimer's  Disease Research Fund, the
26    Penny Severns Breast and Cervical Cancer Research  Fund,  the
27    National  World  War  II  Memorial  Fund, the Prostate Cancer
28    Research Fund, the Multiple Sclerosis  Assistance  Fund,  the
29    Common  School  Fund,  and  the  Korean War Veterans National
30    Museum  and  Library  Fund;  and  shall  notify   the   State
31    Comptroller  and  the  State  Treasurer  of the amounts to be
32    transferred from the General Revenue Fund to each  fund,  and
33    upon  receipt  of  such  notification the State Treasurer and
 
                            -3-      LRB093 08109 SJM 08313 b
 1    Comptroller shall transfer the amounts.
 2    (Source: P.A. 91-104, eff.  7-13-99;  91-107,  eff.  7-13-99;
 3    91-833, eff. 1-1-01; 91-836, eff. 1-1-01; 92-84, eff. 7-1-02;
 4    92-198,  eff.  8-1-01;  92-651,  eff.  7-11-02;  92-772, eff.
 5    8-6-02.)

 6        Section 99.  Effective date.  This Act takes effect  upon
 7    becoming law.