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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0502 Introduced 2/8/2011, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
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| 35 ILCS 5/509 | from Ch. 120, par. 5-509 |
| Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning tax checkoff explanations.
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| | A BILL FOR |
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| | SB0502 | | LRB097 04168 HLH 44207 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Income Tax Act is amended by |
| 5 | | changing Section 509 as follows:
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| 6 | | (35 ILCS 5/509) (from Ch. 120, par. 5-509)
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| 7 | | Sec. 509. Tax checkoff explanations. All individual income |
| 8 | | tax return forms
shall contain appropriate explanations and
and |
| 9 | | spaces to enable the taxpayers to
designate contributions to |
| 10 | | the funds to which contributions may be made under this Article |
| 11 | | 5. |
| 12 | | Each form shall contain a statement that the contributions |
| 13 | | will reduce the
taxpayer's refund or increase the amount of |
| 14 | | payment to accompany the return.
Failure to remit any amount of |
| 15 | | increased payment shall reduce the contribution
accordingly.
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| 16 | | If, on October 1 of any year, the total contributions to |
| 17 | | any one of the
funds made under this Article 5 do not equal |
| 18 | | $100,000 or more, the explanations
and spaces for designating |
| 19 | | contributions to the fund shall be removed from the
individual |
| 20 | | income tax return forms for the following and all subsequent |
| 21 | | years
and all subsequent contributions to the fund shall be |
| 22 | | refunded to the taxpayer.
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| 23 | | (Source: P.A. 95-331, eff. 8-21-07; 95-434, eff. 8-27-07; |