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| [ Engrossed ] | [ House Amendment 001 ] |
91_HB4738
LRB9114795SMdvB
1 AN ACT concerning taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Income Tax Act is amended by
5 changing Sections 208.1 and 901 and by adding Section 208.2
6 as follows:
7 (35 ILCS 5/208.1)
8 Sec. 208.1. Homeowners' tax relief rebate.
9 (a) The Department shall pay a rebate to taxpayers in
10 the amount of the Illinois income tax credit allowed under
11 Section 208 with respect to the taxpayer's 1999 Illinois
12 income tax return for residential real property taxes paid on
13 the principal residence of the taxpayer. The rebate shall
14 not, however, exceed $300 per principal residence. The
15 rebate shall be paid to all eligible taxpayers who have filed
16 a 1999 Illinois income tax return on or before October 17,
17 2000.
18 (b) Before June 30, 2000, the Comptroller shall order
19 transferred and the Treasurer shall transfer $280,000,000
20 from the Tobacco Settlement Recovery Fund to the Homeowners'
21 Tax Relief Fund, a special fund in the State Treasury.
22 Subject to appropriation, the Department shall make the
23 rebate payments out of the Homeowners' Tax Relief Fund.
24 (c) The Department shall certify the names of the
25 taxpayers whose returns were filed on or before July 17, 2000
26 and the rebate amounts to the Comptroller by August 15, 2000.
27 The Comptroller shall mail the rebate warrants to these
28 taxpayers by October 17, 2000.
29 (d) The Department shall certify the names of the
30 taxpayers whose returns were filed after July 17, 2000 and on
31 or before October 17, 2000 and the rebate amounts to the
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1 Comptroller by November 17, 2000. The Comptroller shall mail
2 the rebate warrants to these taxpayers by December 15, 2000.
3 (e) Any unencumbered amount in the Homeowners' Tax
4 Relief Fund on May 1 January 1, 2001 shall be transferred to
5 the Budget Stabilization Fund, a special fund in the State
6 Treasury, and any amount remaining in the Homeowners' Tax
7 Relief Fund on July 1, 2001 shall be transferred to the
8 Budget Stabilization Fund.
9 (Source: P.A. 91-703, eff. 5-16-00.)
10 (35 ILCS 5/208.2 new)
11 Sec. 208.2. Restructured homeowners' tax relief rebate.
12 (a) An individual taxpayer who paid residential real
13 property taxes in 1999 on the taxpayer's principal residence
14 is entitled to a rebate. The rebate shall be in an amount
15 equal to 5% of those taxes originally due and paid in 1999 or
16 $300, whichever is less, minus the amount of any rebate paid
17 to the taxpayer under Section 208.1.
18 (b) On or before December 31, 2000, the Department shall
19 prepare and make available an application form for the rebate
20 authorized under this Section. The Department shall begin
21 accepting application forms for the rebate on January 1,
22 2001. To be eligible for a rebate under this Section the
23 applicant must submit a completed application form postmarked
24 on or before March 1, 2001.
25 (c) The Department shall make the rebate payments out of
26 the Homeowners' Tax Relief Fund.
27 (d) On or before April 1, 2001, the Department shall
28 certify the names of the taxpayers eligible for the rebate
29 under this Section whose application forms were postmarked on
30 or before March 1, 2001 and the rebate amounts to the
31 Comptroller. The Comptroller shall mail the rebate warrant
32 to these taxpayers by May 1, 2001.
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1 (35 ILCS 5/901) (from Ch. 120, par. 9-901)
2 Sec. 901. Collection Authority.
3 (a) In general.
4 The Department shall collect the taxes imposed by this
5 Act. The Department shall collect certified past due child
6 support amounts under Section 2505-650 of the Department of
7 Revenue Law (20 ILCS 2505/2505-650). Except as provided in
8 subsections (c) and (e) of this Section, money collected
9 pursuant to subsections (a) and (b) of Section 201 of this
10 Act shall be paid into the General Revenue Fund in the State
11 treasury; money collected pursuant to subsections (c) and (d)
12 of Section 201 of this Act shall be paid into the Personal
13 Property Tax Replacement Fund, a special fund in the State
14 Treasury; and money collected under Section 2505-650 of the
15 Department of Revenue Law (20 ILCS 2505/2505-650) shall be
16 paid into the Child Support Enforcement Trust Fund, a special
17 fund outside the State Treasury, or to the State Disbursement
18 Unit established under Section 10-26 of the Illinois Public
19 Aid Code, as directed by the Department of Public Aid.
20 (b) Local Governmental Distributive Fund.
21 Beginning August 1, 1969, and continuing through June 30,
22 1994, the Treasurer shall transfer each month from the
23 General Revenue Fund to a special fund in the State treasury,
24 to be known as the "Local Government Distributive Fund", an
25 amount equal to 1/12 of the net revenue realized from the tax
26 imposed by subsections (a) and (b) of Section 201 of this Act
27 during the preceding month. Beginning July 1, 1994, and
28 continuing through June 30, 1995, the Treasurer shall
29 transfer each month from the General Revenue Fund to the
30 Local Government Distributive Fund an amount equal to 1/11 of
31 the net revenue realized from the tax imposed by subsections
32 (a) and (b) of Section 201 of this Act during the preceding
33 month. Beginning July 1, 1995, the Treasurer shall transfer
34 each month from the General Revenue Fund to the Local
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1 Government Distributive Fund an amount equal to 1/10 of the
2 net revenue realized from the tax imposed by subsections (a)
3 and (b) of Section 201 of the Illinois Income Tax Act during
4 the preceding month. Net revenue realized for a month shall
5 be defined as the revenue from the tax imposed by subsections
6 (a) and (b) of Section 201 of this Act which is deposited in
7 the General Revenue Fund, the Educational Assistance Fund and
8 the Income Tax Surcharge Local Government Distributive Fund
9 during the month minus the amount paid out of the General
10 Revenue Fund in State warrants during that same month as
11 refunds to taxpayers for overpayment of liability under the
12 tax imposed by subsections (a) and (b) of Section 201 of this
13 Act.
14 (c) Deposits Into Income Tax Refund Fund.
15 (1) Beginning on January 1, 1989 and thereafter,
16 the Department shall deposit a percentage of the amounts
17 collected pursuant to subsections (a) and (b)(1), (2),
18 and (3), of Section 201 of this Act into a fund in the
19 State treasury known as the Income Tax Refund Fund. The
20 Department shall deposit 6% of such amounts during the
21 period beginning January 1, 1989 and ending on June 30,
22 1989. Beginning with State fiscal year 1990 and for each
23 fiscal year thereafter, the percentage deposited into the
24 Income Tax Refund Fund during a fiscal year shall be the
25 Annual Percentage. For fiscal years 1999 through 2001,
26 the Annual Percentage shall be 7.1%. For all other
27 fiscal years, the Annual Percentage shall be calculated
28 as a fraction, the numerator of which shall be the amount
29 of refunds approved for payment by the Department during
30 the preceding fiscal year as a result of overpayment of
31 tax liability under subsections (a) and (b)(1), (2), and
32 (3) of Section 201 of this Act plus the amount of such
33 refunds remaining approved but unpaid at the end of the
34 preceding fiscal year, the denominator of which shall be
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1 the amounts which will be collected pursuant to
2 subsections (a) and (b)(1), (2), and (3) of Section 201
3 of this Act during the preceding fiscal year. The
4 Director of Revenue shall certify the Annual Percentage
5 to the Comptroller on the last business day of the fiscal
6 year immediately preceding the fiscal year for which it
7 is to be effective.
8 (2) Beginning on January 1, 1989 and thereafter,
9 the Department shall deposit a percentage of the amounts
10 collected pursuant to subsections (a) and (b)(6), (7),
11 and (8), (c) and (d) of Section 201 of this Act into a
12 fund in the State treasury known as the Income Tax Refund
13 Fund. The Department shall deposit 18% of such amounts
14 during the period beginning January 1, 1989 and ending on
15 June 30, 1989. Beginning with State fiscal year 1990 and
16 for each fiscal year thereafter, the percentage deposited
17 into the Income Tax Refund Fund during a fiscal year
18 shall be the Annual Percentage. For fiscal years 1999,
19 2000, and 2001, the Annual Percentage shall be 19%. For
20 all other fiscal years, the Annual Percentage shall be
21 calculated as a fraction, the numerator of which shall be
22 the amount of refunds approved for payment by the
23 Department during the preceding fiscal year as a result
24 of overpayment of tax liability under subsections (a) and
25 (b)(6), (7), and (8), (c) and (d) of Section 201 of this
26 Act plus the amount of such refunds remaining approved
27 but unpaid at the end of the preceding fiscal year, the
28 denominator of which shall be the amounts which will be
29 collected pursuant to subsections (a) and (b)(6), (7),
30 and (8), (c) and (d) of Section 201 of this Act during
31 the preceding fiscal year. The Director of Revenue shall
32 certify the Annual Percentage to the Comptroller on the
33 last business day of the fiscal year immediately
34 preceding the fiscal year for which it is to be
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1 effective.
2 (3) The Comptroller shall order transferred and the
3 Treasurer shall transfer from the Tobacco Settlement
4 Recovery Fund to the Income Tax Refund Fund (i)
5 $35,000,000 in January, 2001, (ii) $35,000,000 in
6 January, 2002, and (iii) $35,000,000 in January, 2003.
7 (d) Expenditures from Income Tax Refund Fund.
8 (1) Beginning January 1, 1989, money in the Income
9 Tax Refund Fund shall be expended exclusively for the
10 purpose of paying refunds resulting from overpayment of
11 tax liability under Section 201 of this Act, for paying
12 rebates under Sections Section 208.1 and 208.2 in the
13 event that the amounts in the Homeowners' Tax Relief Fund
14 are insufficient for that purpose, and for making
15 transfers pursuant to this subsection (d).
16 (2) The Director shall order payment of refunds
17 resulting from overpayment of tax liability under Section
18 201 of this Act from the Income Tax Refund Fund only to
19 the extent that amounts collected pursuant to Section 201
20 of this Act and transfers pursuant to this subsection (d)
21 and item (3) of subsection (c) have been deposited and
22 retained in the Fund.
23 (3) As soon as possible after the end of each
24 fiscal year, the Director shall order transferred and the
25 State Treasurer and State Comptroller shall transfer from
26 the Income Tax Refund Fund to the Personal Property Tax
27 Replacement Fund an amount, certified by the Director to
28 the Comptroller, equal to the excess of the amount
29 collected pursuant to subsections (c) and (d) of Section
30 201 of this Act deposited into the Income Tax Refund Fund
31 during the fiscal year over the amount of refunds
32 resulting from overpayment of tax liability under
33 subsections (c) and (d) of Section 201 of this Act paid
34 from the Income Tax Refund Fund during the fiscal year.
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1 (4) As soon as possible after the end of each
2 fiscal year, the Director shall order transferred and the
3 State Treasurer and State Comptroller shall transfer from
4 the Personal Property Tax Replacement Fund to the Income
5 Tax Refund Fund an amount, certified by the Director to
6 the Comptroller, equal to the excess of the amount of
7 refunds resulting from overpayment of tax liability under
8 subsections (c) and (d) of Section 201 of this Act paid
9 from the Income Tax Refund Fund during the fiscal year
10 over the amount collected pursuant to subsections (c) and
11 (d) of Section 201 of this Act deposited into the Income
12 Tax Refund Fund during the fiscal year.
13 (4.5) As soon as possible after the end of fiscal
14 year 1999 and of each fiscal year thereafter, the
15 Director shall order transferred and the State Treasurer
16 and State Comptroller shall transfer from the Income Tax
17 Refund Fund to the General Revenue Fund any surplus
18 remaining in the Income Tax Refund Fund as of the end of
19 such fiscal year; excluding for fiscal years 2000, 2001,
20 and 2002 amounts attributable to transfers under item (3)
21 of subsection (c) less refunds resulting from the earned
22 income tax credit.
23 (5) This Act shall constitute an irrevocable and
24 continuing appropriation from the Income Tax Refund Fund
25 for the purpose of paying refunds upon the order of the
26 Director in accordance with the provisions of this
27 Section.
28 (e) Deposits into the Education Assistance Fund and the
29 Income Tax Surcharge Local Government Distributive Fund.
30 On July 1, 1991, and thereafter, of the amounts collected
31 pursuant to subsections (a) and (b) of Section 201 of this
32 Act, minus deposits into the Income Tax Refund Fund, the
33 Department shall deposit 7.3% into the Education Assistance
34 Fund in the State Treasury. Beginning July 1, 1991, and
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1 continuing through January 31, 1993, of the amounts collected
2 pursuant to subsections (a) and (b) of Section 201 of the
3 Illinois Income Tax Act, minus deposits into the Income Tax
4 Refund Fund, the Department shall deposit 3.0% into the
5 Income Tax Surcharge Local Government Distributive Fund in
6 the State Treasury. Beginning February 1, 1993 and
7 continuing through June 30, 1993, of the amounts collected
8 pursuant to subsections (a) and (b) of Section 201 of the
9 Illinois Income Tax Act, minus deposits into the Income Tax
10 Refund Fund, the Department shall deposit 4.4% into the
11 Income Tax Surcharge Local Government Distributive Fund in
12 the State Treasury. Beginning July 1, 1993, and continuing
13 through June 30, 1994, of the amounts collected under
14 subsections (a) and (b) of Section 201 of this Act, minus
15 deposits into the Income Tax Refund Fund, the Department
16 shall deposit 1.475% into the Income Tax Surcharge Local
17 Government Distributive Fund in the State Treasury.
18 (Source: P.A. 90-613, eff. 7-9-98; 90-655, eff. 7-30-98;
19 91-212, eff. 7-20-99; 91-239, eff. 1-1-00; 91-700, eff.
20 5-11-00; 91-704, eff. 7-1-00; 91-712, eff. 7-1-00; revised
21 6-28-00.)
22 Section 99. Effective date. This Act takes effect upon
23 becoming law.