SB 136

  • Illinois Senate Bill
  • 104th Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Inc Tx-Lgdf

Abstract

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) 6.47% of the net revenue realized from the tax imposed upon individuals, trusts, and estates during the preceding month; (ii) 6.85% of the net revenue realized from the tax imposed upon corporations during the preceding month; and (iii) 6.47% of the net revenue realized from the tax imposed upon electing pass-through entities). Effective immediately.

Bill Sponsors (4)

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Mar 05, 2025

Senate

Added as Co-Sponsor Sen. Li Arellano, Jr.

Senate

Added as Co-Sponsor Sen. Sally J. Turner

Jan 28, 2025

Senate

Added as Co-Sponsor Sen. Chris Balkema

Jan 17, 2025

Senate

Filed with Secretary by Sen. Donald P. DeWitte

Senate

First Reading

Senate

Referred to Assignments

Bill Text

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Introduced HTML PDF

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Sources

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