SB 3617

Abstract

Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue may design and implement a data match system pursuant to which the Department of Revenue shall enter into agreements with financial institutions doing business in this State for the purpose of identifying accounts of delinquent taxpayers. Provides that the agreements shall provide that (i) the financial institution shall compare data of account holders, owners, or customers who maintain one or more accounts at the financial institution with data of individuals and business entities who are identified by the Department as delinquent taxpayers and for whom the Department has provided the name, record address, and social security number or tax identification number or (ii) the financial institution shall provide to the Department the social security numbers or tax identification numbers of the account holders, owners, or customers who maintain one or more accounts at the financial institution, and the Department shall compare that data with data of individuals and business entities who are identified by the Department as delinquent taxpayers. Effective immediately. Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Provides that no financial institution is required to enter into a data match agreement with the Department of Revenue. Effective immediately. Senate Floor Amendment No. 2 Makes changes to the bill as amended by Senate Amendment No. 1 to provide that nothing in the amendatory Act shall be interpreted as requiring a financial institution to enter into an agreement with the Department of Revenue or as requiring a financial institution to change its current practice of cooperating with the Department of Revenue's requests on a case-by-case basis. Provides that account ownership shall be established according to the financial institution's internal procedures (in the amended bill, federal 1099 reporting requirements). Removes provisions concerning disclosure by the financial institution of social security numbers or tax identification numbers of account holders, owners, or customers. Provides that the Department of Revenue shall pay to the financial institution providing or comparing the data a reasonable fee not to exceed the institution's actual cost of providing the data or performing the comparison.