SB2206 - INC TX-LGDF
Illinois - 103rd General Assembly
Introduced byDonald P. DeWitte, Seth Lewis, Patrick J. Joyce
Last updated over 1 year ago
11 Co-Sponsors
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) 6.16% of the net revenue realized from the tax imposed upon individuals, trusts, and estates, (ii) 6.85% of the net revenue realized from the tax imposed upon corporations, and (iii) 6.16% of the net revenue realized from the tax imposed upon electing pass-through entities). Effective immediately.
STATUS
Introduced
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