91st General Assembly
Summary of HB0495
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House Sponsors:

Senate Sponsors:

Short description: 
LOC GVT DISTRB FUND-DEPOSIT                                                

Synopsis of Bill as introduced:
        Amends the State Revenue Sharing Act and the Illinois Income  Tax      
   Act.  Requires  the  Department  of Revenue to deposit moneys directly      
   into  the  Local  Government  Distributive  Fund  (now,   moneys   are      
   transferred  by  the  State Treasurer) based on "amounts collected" as      
   income tax (now, based on "net revenue").                                   
          STATE DEBT NOTE (Economic and Fiscal Commission)                     
          There is no direct impact on the level of State indebtedness.        
          BALANCED BUDGET NOTE (Bureau of the Budget)                          
          Since the bill is not a supplemental appropriation, the Balanc-      
          ed Budget Note Act is inapplicable.                                  
          FISCAL NOTE (Dept. of Revenue)                                       
          HB 495 does not create a fiscal impact for the State.                
        HOUSE AMENDMENT NO. 1.                                                 
        Deletes everything.  Reinserts the provisions  of  the  bill  but      
   provides  that  10%  (now  1/10)  of  the  amounts  collected shall be      
   deposited into the Local Government Distributive Fund.                      
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


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