<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 365          </title>
<shortdesc>INC TX-LGDF</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Anthony DeLuca-Robert W. Pritchard-Carol Sente-Mike Fortner, Anna Moeller and Al Riley</sponsors>
</sponsor>
<lastaction>
<statusdate>1/10/2017</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/901</reference><aliasreference>from Ch. 120, par. 9-901</aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Provides that, from February 1, 2016 through January 31, 2017, the amount transferred from the General Revenue Fund to the Local Government Distributive Fund shall be: (i) 8.5% of the net revenue realized from the tax imposed on individuals, trusts, and estates, and (ii) 9.355% of the net revenue realized from the tax imposed on corporations. Provides that, from February 1, 2017 through January 31, 2018, the amount transferred from the General Revenue Fund to the Local Government Distributive Fund shall be: (i) 9% of the net revenue realized from the tax imposed on individuals, trusts, and estates, and (ii) 9.57% of the net revenue realized from the tax imposed on corporations. Provides that, from February 1, 2018 through January 31, 2019, the amount transferred from the General Revenue Fund to the Local Government Distributive Fund shall be: (i) 9.5% of the net revenue realized from the tax imposed on individuals, trusts, and estates, and (ii) 9.785% of the net revenue realized from the tax imposed on corporations. Provides that, beginning on February 1, 2019, the Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 10% of the net revenue realized from the tax imposed on individuals, trusts, estates, and corporations during the preceding month. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>1/28/2015</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Anthony DeLuca</action>
<statusdate>1/28/2015</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>1/28/2015</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/6/2015</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Robert W. Pritchard</action>
<statusdate>2/13/2015</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>2/20/2015</statusdate><chamber>House</chamber><action>To Income Tax Subcommittee</action>
<statusdate>2/25/2015</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Carol Sente</action>
<statusdate>2/25/2015</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Mike Fortner</action>
<statusdate>3/11/2015</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Anna Moeller</action>
<statusdate>3/27/2015</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>4/13/2015</statusdate><chamber>House</chamber><action>Committee Deadline Extended-Rule 9(b) April 30, 2015</action>
<statusdate>4/13/2015</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>4/14/2015</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Al Riley</action>
<statusdate>4/30/2015</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>3/23/2016</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>3/23/2016</statusdate><chamber>House</chamber><action>To Income Tax Subcommittee</action>
<statusdate>4/8/2016</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/10/2017</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

