Public Act 098-1052
Public Act 1052 98TH GENERAL ASSEMBLY
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Public Act 098-1052
| | HB0961 Enrolled | LRB098 06118 HLH 36159 b |
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| AN ACT concerning revenue.
| Be it enacted by the People of the State of Illinois,
| represented in the General Assembly:
| Section 5. The State Revenue Sharing Act is amended by | changing Section 1 as follows:
| (30 ILCS 115/1) (from Ch. 85, par. 611)
| Sec. 1. Local Government Distributive Fund. Through June | 30, 1994, as
soon as may be after the first day of each month | the Department of Revenue
shall certify to the Treasurer an | amount equal to 1/12 of the net revenue
realized from the tax | imposed by subsections (a) and (b) of Section 201 of the
| Illinois Income Tax Act during the preceding month. Beginning | July 1, 1994,
and continuing through June 30, 1995, as soon as | may be after the first day of
each month, the Department of | Revenue shall certify to the Treasurer an amount
equal to 1/11 | of the net revenue realized from the tax imposed by subsections
| (a) and (b) of Section 201 of the Illinois Income Tax Act | during the preceding
month. Beginning July 1, 1995, as soon as | may be after the first day of each
month, the Department of | Revenue shall certify to the Treasurer an amount equal
to the | amounts calculated pursuant to subsection (b) of Section 901 of | the Illinois Income Tax Act based on 1/10 of the net revenue | realized from the tax imposed by subsections (a) and
(b) of |
| Section 201 of the Illinois Income Tax Act during the preceding | month.
Net revenue realized for a month shall be defined as the | revenue from the tax
imposed by subsections (a) and (b) of | Section 201 of the Illinois Income Tax
Act which is deposited | in the General Revenue Fund, the Education Assistance
Fund and | the Income Tax Surcharge Local Government Distributive Fund | during the
month minus the amount paid out of the General | Revenue Fund in State warrants
during that same month as | refunds to taxpayers for overpayment of liability
under the tax | imposed by subsections (a) and (b) of Section 201 of the | Illinois
Income Tax Act. Upon receipt of such certification, | the Treasurer shall
transfer from the General Revenue Fund to a | special fund in the State treasury,
to be known as the "Local | Government Distributive Fund", the amount shown on
such | certification.
| Beginning on the effective date of this amendatory Act of | the 98th General Assembly, the Comptroller shall perform the | transfers required by this Section no later than 60 days after | he or she receives the certification from the Treasurer. | All amounts paid into the Local Government Distributive | Fund in accordance
with this Section and allocated pursuant to | this Act are appropriated on a
continuing basis.
| (Source: P.A. 88-89.)
| Section 10. The Illinois Income Tax Act is amended by | changing Section 901 as follows:
|
| (35 ILCS 5/901) (from Ch. 120, par. 9-901) | Sec. 901. Collection Authority. | (a) In general. | The Department shall collect the taxes imposed by this Act. | The Department
shall collect certified past due child support | amounts under Section 2505-650
of the Department of Revenue Law | (20 ILCS 2505/2505-650). Except as
provided in subsections (c), | (e), (f), and (g) of this Section, money collected
pursuant to | subsections (a) and (b) of Section 201 of this Act shall be
| paid into the General Revenue Fund in the State treasury; money
| collected pursuant to subsections (c) and (d) of Section 201 of | this Act
shall be paid into the Personal Property Tax | Replacement Fund, a special
fund in the State Treasury; and | money collected under Section 2505-650 of the
Department of | Revenue Law (20 ILCS 2505/2505-650) shall be paid
into the
| Child Support Enforcement Trust Fund, a special fund outside | the State
Treasury, or
to the State
Disbursement Unit | established under Section 10-26 of the Illinois Public Aid
| Code, as directed by the Department of Healthcare and Family | Services. | (b) Local Government Distributive Fund. | Beginning August 1, 1969, and continuing through June 30, | 1994, the Treasurer
shall transfer each month from the General | Revenue Fund to a special fund in
the State treasury, to be | known as the "Local Government Distributive Fund", an
amount |
| equal to 1/12 of the net revenue realized from the tax imposed | by
subsections (a) and (b) of Section 201 of this Act during | the preceding month.
Beginning July 1, 1994, and continuing | through June 30, 1995, the Treasurer
shall transfer each month | from the General Revenue Fund to the Local Government
| Distributive Fund an amount equal to 1/11 of the net revenue | realized from the
tax imposed by subsections (a) and (b) of | Section 201 of this Act during the
preceding month. Beginning | July 1, 1995 and continuing through January 31, 2011, the | Treasurer shall transfer each
month from the General Revenue | Fund to the Local Government Distributive Fund
an amount equal | to the net of (i) 1/10 of the net revenue realized from the
tax | imposed by
subsections (a) and (b) of Section 201 of the | Illinois Income Tax Act during
the preceding month
(ii) minus, | beginning July 1, 2003 and ending June 30, 2004, $6,666,666, | and
beginning July 1,
2004,
zero. Beginning February 1, 2011, | and continuing through January 31, 2015, the Treasurer shall | transfer each month from the General Revenue Fund to the Local | Government Distributive Fund an amount equal to the sum of (i) | 6% (10% of the ratio of the 3% individual income tax rate prior | to 2011 to the 5% individual income tax rate after 2010) of the | net revenue realized from the tax imposed by subsections (a) | and (b) of Section 201 of this Act upon individuals, trusts, | and estates during the preceding month and (ii) 6.86% (10% of | the ratio of the 4.8% corporate income tax rate prior to 2011 | to the 7% corporate income tax rate after 2010) of the net |
| revenue realized from the tax imposed by subsections (a) and | (b) of Section 201 of this Act upon corporations during the | preceding month. Beginning February 1, 2015 and continuing | through January 31, 2025, the Treasurer shall transfer each | month from the General Revenue Fund to the Local Government | Distributive Fund an amount equal to the sum of (i) 8% (10% of | the ratio of the 3% individual income tax rate prior to 2011 to | the 3.75% individual income tax rate after 2014) of the net | revenue realized from the tax imposed by subsections (a) and | (b) of Section 201 of this Act upon individuals, trusts, and | estates during the preceding month and (ii) 9.14% (10% of the | ratio of the 4.8% corporate income tax rate prior to 2011 to | the 5.25% corporate income tax rate after 2014) of the net | revenue realized from the tax imposed by subsections (a) and | (b) of Section 201 of this Act upon corporations during the | preceding month. Beginning February 1, 2025, the Treasurer | shall transfer each month from the General Revenue Fund to the | Local Government Distributive Fund an amount equal to the sum | of (i) 9.23% (10% of the ratio of the 3% individual income tax | rate prior to 2011 to the 3.25% individual income tax rate | after 2024) of the net revenue realized from the tax imposed by | subsections (a) and (b) of Section 201 of this Act upon | individuals, trusts, and estates during the preceding month and | (ii) 10% of the net revenue realized from the tax imposed by | subsections (a) and (b) of Section 201 of this Act upon | corporations during the preceding month. Net revenue realized |
| for a month shall be defined as the
revenue from the tax | imposed by subsections (a) and (b) of Section 201 of this
Act | which is deposited in the General Revenue Fund, the Education | Assistance
Fund, the Income Tax Surcharge Local Government | Distributive Fund, the Fund for the Advancement of Education, | and the Commitment to Human Services Fund during the
month | minus the amount paid out of the General Revenue Fund in State | warrants
during that same month as refunds to taxpayers for | overpayment of liability
under the tax imposed by subsections | (a) and (b) of Section 201 of this Act. | Beginning on the effective date of this amendatory Act of | the 98th General Assembly, the Comptroller shall perform the | transfers required by this subsection (b) no later than 60 days | after he or she receives the certification from the Treasurer | as provided in Section 1 of the State Revenue Sharing Act. | (c) Deposits Into Income Tax Refund Fund. | (1) Beginning on January 1, 1989 and thereafter, the | Department shall
deposit a percentage of the amounts | collected pursuant to subsections (a)
and (b)(1), (2), and | (3), of Section 201 of this Act into a fund in the State
| treasury known as the Income Tax Refund Fund. The | Department shall deposit 6%
of such amounts during the | period beginning January 1, 1989 and ending on June
30, | 1989. Beginning with State fiscal year 1990 and for each | fiscal year
thereafter, the percentage deposited into the | Income Tax Refund Fund during a
fiscal year shall be the |
| Annual Percentage. For fiscal years 1999 through
2001, the | Annual Percentage shall be 7.1%.
For fiscal year 2003, the | Annual Percentage shall be 8%.
For fiscal year 2004, the | Annual Percentage shall be 11.7%. Upon the effective date | of this amendatory Act of the 93rd General Assembly, the | Annual Percentage shall be 10% for fiscal year 2005. For | fiscal year 2006, the Annual Percentage shall be 9.75%. For | fiscal
year 2007, the Annual Percentage shall be 9.75%. For | fiscal year 2008, the Annual Percentage shall be 7.75%. For | fiscal year 2009, the Annual Percentage shall be 9.75%. For | fiscal year 2010, the Annual Percentage shall be 9.75%. For | fiscal year 2011, the Annual Percentage shall be 8.75%. For | fiscal year 2012, the Annual Percentage shall be 8.75%. For | fiscal year 2013, the Annual Percentage shall be 9.75%. For | fiscal year 2014, the Annual Percentage shall be 9.5%. For | all other
fiscal years, the
Annual Percentage shall be | calculated as a fraction, the numerator of which
shall be | the amount of refunds approved for payment by the | Department during
the preceding fiscal year as a result of | overpayment of tax liability under
subsections (a) and | (b)(1), (2), and (3) of Section 201 of this Act plus the
| amount of such refunds remaining approved but unpaid at the | end of the
preceding fiscal year, minus the amounts | transferred into the Income Tax
Refund Fund from the | Tobacco Settlement Recovery Fund, and
the denominator of | which shall be the amounts which will be collected pursuant
|
| to subsections (a) and (b)(1), (2), and (3) of Section 201 | of this Act during
the preceding fiscal year; except that | in State fiscal year 2002, the Annual
Percentage shall in | no event exceed 7.6%. The Director of Revenue shall
certify | the Annual Percentage to the Comptroller on the last | business day of
the fiscal year immediately preceding the | fiscal year for which it is to be
effective. | (2) Beginning on January 1, 1989 and thereafter, the | Department shall
deposit a percentage of the amounts | collected pursuant to subsections (a)
and (b)(6), (7), and | (8), (c) and (d) of Section 201
of this Act into a fund in | the State treasury known as the Income Tax
Refund Fund. The | Department shall deposit 18% of such amounts during the
| period beginning January 1, 1989 and ending on June 30, | 1989. Beginning
with State fiscal year 1990 and for each | fiscal year thereafter, the
percentage deposited into the | Income Tax Refund Fund during a fiscal year
shall be the | Annual Percentage. For fiscal years 1999, 2000, and 2001, | the
Annual Percentage shall be 19%.
For fiscal year 2003, | the Annual Percentage shall be 27%. For fiscal year
2004, | the Annual Percentage shall be 32%.
Upon the effective date | of this amendatory Act of the 93rd General Assembly, the | Annual Percentage shall be 24% for fiscal year 2005.
For | fiscal year 2006, the Annual Percentage shall be 20%. For | fiscal
year 2007, the Annual Percentage shall be 17.5%. For | fiscal year 2008, the Annual Percentage shall be 15.5%. For |
| fiscal year 2009, the Annual Percentage shall be 17.5%. For | fiscal year 2010, the Annual Percentage shall be 17.5%. For | fiscal year 2011, the Annual Percentage shall be 17.5%. For | fiscal year 2012, the Annual Percentage shall be 17.5%. For | fiscal year 2013, the Annual Percentage shall be 14%. For | fiscal year 2014, the Annual Percentage shall be 13.4%. For | all other fiscal years, the Annual
Percentage shall be | calculated
as a fraction, the numerator of which shall be | the amount of refunds
approved for payment by the | Department during the preceding fiscal year as
a result of | overpayment of tax liability under subsections (a) and | (b)(6),
(7), and (8), (c) and (d) of Section 201 of this | Act plus the
amount of such refunds remaining approved but | unpaid at the end of the
preceding fiscal year, and the | denominator of
which shall be the amounts which will be | collected pursuant to subsections (a)
and (b)(6), (7), and | (8), (c) and (d) of Section 201 of this Act during the
| preceding fiscal year; except that in State fiscal year | 2002, the Annual
Percentage shall in no event exceed 23%. | The Director of Revenue shall
certify the Annual Percentage | to the Comptroller on the last business day of
the fiscal | year immediately preceding the fiscal year for which it is | to be
effective. | (3) The Comptroller shall order transferred and the | Treasurer shall
transfer from the Tobacco Settlement | Recovery Fund to the Income Tax Refund
Fund (i) $35,000,000 |
| in January, 2001, (ii) $35,000,000 in January, 2002, and
| (iii) $35,000,000 in January, 2003. | (d) Expenditures from Income Tax Refund Fund. | (1) Beginning January 1, 1989, money in the Income Tax | Refund Fund
shall be expended exclusively for the purpose | of paying refunds resulting
from overpayment of tax | liability under Section 201 of this Act, for paying
rebates | under Section 208.1 in the event that the amounts in the | Homeowners'
Tax Relief Fund are insufficient for that | purpose,
and for
making transfers pursuant to this | subsection (d). | (2) The Director shall order payment of refunds | resulting from
overpayment of tax liability under Section | 201 of this Act from the
Income Tax Refund Fund only to the | extent that amounts collected pursuant
to Section 201 of | this Act and transfers pursuant to this subsection (d)
and | item (3) of subsection (c) have been deposited and retained | in the
Fund. | (3) As soon as possible after the end of each fiscal | year, the Director
shall
order transferred and the State | Treasurer and State Comptroller shall
transfer from the | Income Tax Refund Fund to the Personal Property Tax
| Replacement Fund an amount, certified by the Director to | the Comptroller,
equal to the excess of the amount | collected pursuant to subsections (c) and
(d) of Section | 201 of this Act deposited into the Income Tax Refund Fund
|
| during the fiscal year over the amount of refunds resulting | from
overpayment of tax liability under subsections (c) and | (d) of Section 201
of this Act paid from the Income Tax | Refund Fund during the fiscal year. | (4) As soon as possible after the end of each fiscal | year, the Director shall
order transferred and the State | Treasurer and State Comptroller shall
transfer from the | Personal Property Tax Replacement Fund to the Income Tax
| Refund Fund an amount, certified by the Director to the | Comptroller, equal
to the excess of the amount of refunds | resulting from overpayment of tax
liability under | subsections (c) and (d) of Section 201 of this Act paid
| from the Income Tax Refund Fund during the fiscal year over | the amount
collected pursuant to subsections (c) and (d) of | Section 201 of this Act
deposited into the Income Tax | Refund Fund during the fiscal year. | (4.5) As soon as possible after the end of fiscal year | 1999 and of each
fiscal year
thereafter, the Director shall | order transferred and the State Treasurer and
State | Comptroller shall transfer from the Income Tax Refund Fund | to the General
Revenue Fund any surplus remaining in the | Income Tax Refund Fund as of the end
of such fiscal year; | excluding for fiscal years 2000, 2001, and 2002
amounts | attributable to transfers under item (3) of subsection (c) | less refunds
resulting from the earned income tax credit. | (5) This Act shall constitute an irrevocable and |
| continuing
appropriation from the Income Tax Refund Fund | for the purpose of paying
refunds upon the order of the | Director in accordance with the provisions of
this Section. | (e) Deposits into the Education Assistance Fund and the | Income Tax
Surcharge Local Government Distributive Fund. | On July 1, 1991, and thereafter, of the amounts collected | pursuant to
subsections (a) and (b) of Section 201 of this Act, | minus deposits into the
Income Tax Refund Fund, the Department | shall deposit 7.3% into the
Education Assistance Fund in the | State Treasury. Beginning July 1, 1991,
and continuing through | January 31, 1993, of the amounts collected pursuant to
| subsections (a) and (b) of Section 201 of the Illinois Income | Tax Act, minus
deposits into the Income Tax Refund Fund, the | Department shall deposit 3.0%
into the Income Tax Surcharge | Local Government Distributive Fund in the State
Treasury. | Beginning February 1, 1993 and continuing through June 30, | 1993, of
the amounts collected pursuant to subsections (a) and | (b) of Section 201 of the
Illinois Income Tax Act, minus | deposits into the Income Tax Refund Fund, the
Department shall | deposit 4.4% into the Income Tax Surcharge Local Government
| Distributive Fund in the State Treasury. Beginning July 1, | 1993, and
continuing through June 30, 1994, of the amounts | collected under subsections
(a) and (b) of Section 201 of this | Act, minus deposits into the Income Tax
Refund Fund, the | Department shall deposit 1.475% into the Income Tax Surcharge
| Local Government Distributive Fund in the State Treasury. |
| (f) Deposits into the Fund for the Advancement of | Education. Beginning February 1, 2015, the Department shall | deposit the following portions of the revenue realized from the | tax imposed upon individuals, trusts, and estates by | subsections (a) and (b) of Section 201 of this Act during the | preceding month, minus deposits into the Income Tax Refund | Fund, into the Fund for the Advancement of Education: | (1) beginning February 1, 2015, and prior to February | 1, 2025, 1/30; and | (2) beginning February 1, 2025, 1/26. | If the rate of tax imposed by subsection (a) and (b) of | Section 201 is reduced pursuant to Section 201.5 of this Act, | the Department shall not make the deposits required by this | subsection (f) on or after the effective date of the reduction. | (g) Deposits into the Commitment to Human Services Fund. | Beginning February 1, 2015, the Department shall deposit the | following portions of the revenue realized from the tax imposed | upon individuals, trusts, and estates by subsections (a) and | (b) of Section 201 of this Act during the preceding month, | minus deposits into the Income Tax Refund Fund, into the | Commitment to Human Services Fund: | (1) beginning February 1, 2015, and prior to February | 1, 2025, 1/30; and | (2) beginning February 1, 2025, 1/26. | If the rate of tax imposed by subsection (a) and (b) of | Section 201 is reduced pursuant to Section 201.5 of this Act, |
| the Department shall not make the deposits required by this | subsection (g) on or after the effective date of the reduction. | (Source: P.A. 97-72, eff. 7-1-11; 97-732, eff. 6-30-12; 98-24, | eff. 6-19-13.)
| Section 99. Effective date. This Act takes effect upon | becoming law.
|
Effective Date: 8/26/2014
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