House Sponsors: DANIELS-MADIGAN,MJ-O'CONNOR-CAPPARELLI-WINKEL, BASSI, BELLOCK, BIGGINS, BLACK, BOST, BRADY, COULSON, COWLISHAW, DAVIS,MONIQUE, DURKIN, HASSERT, HOEFT, HULTGREN, JOHNSON,TOM, JONES,JOHN, KLINGLER, KOSEL, KRAUSE, LAWFER, LINDNER, LYONS,EILEEN, MATHIAS, MCAULIFFE, MEYER, MITCHELL,JERRY, MOFFITT, MOORE,ANDREA, MULLIGAN, OSMOND, OSTERMAN, PANKAU, PARKE, PERSICO, POE, RIGHTER, RYDER, SAVIANO, SCHMITZ, SKINNER, SOMMER, STEPHENS, TURNER,JOHN, WAIT, WINTERS, WIRSING, WOJCIK AND ZICKUS. Senate Sponsors: O'MALLEY-RADOGNO-NOLAND-DONAHUE-LAUZEN Short description: INCOME TAXES-CREDIT PRPTY TX Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning a tax credit for property taxes. SENATE AMENDMENT NO. 3. (Tabled April 14, 2000) Deletes reference to: 35 ILCS 5/208 Adds reference to: 35 ILCS 5/208.1 new 30 ILCS 105/5.541 new 30 ILCS 105/5.542 new Deletes everything. Amends the Illinois Income Tax Act. Provides that the Department of Revenue shall pay a rebate to taxpayers in the amount of the Illinois income tax credit allowed with respect to the taxpayer's 1999 Illinois income tax return for residential property taxes paid, but not to exceed $300 per principal residence. Provides for the transfer of $280,000,000 from the Tobacco Settlement Recovery Fund to the Homeowners' Tax Relief Fund from which the Department of Revenue, subject to appropriation, shall make the rebate payments. Provides that the Comptroller shall mail the rebate warrants by October 15, 2000. Provides for unused amounts to be transferred to the Budget Stabilization Fund. Amends the State Finance Act to create the Homeowners' Tax Relief Fund and the Budget Stabilization Fund. Effective immediately. SENATE AMENDMENT NO. 4. Deletes everything. Reinserts provisions similar to Senate Amendment No. 3, but provides that the rebates shall be paid to all eligible taxpayers who have filed a 1999 Illinois income tax return on or before October 17, 2000; provides that for those taxpayers whose returns were filed on or before July 17, 2000, the Comptroller shall mail rebate warrants by October 17, 2000; and provides that for those taxpayers whose returns were filed after July 17, 2000 and on or before October 17, 2000, the Comptroller shall mail rebate warrants by December 15, 2000. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 91-0703 Last action date: 00-05-16 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status