IDOR-FINANCIAL INSTITUTIONS Senate SponsorsSen. Toi W. Hutchinson 1/10/2017SenateSession Sine Die 20 ILCS 2505/2505-760 newAmends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that a person or entity in possession of property or rights to property upon which a levy has been made, or any person who is obligated with respect to that property, who surrenders that property, those rights, or those obligations upon demand of the Director of Revenue is discharged from any obligation or liability to the delinquent taxpayer and any other person with respect to that property. Provides that the Department of Revenue may indemnify any financial institution that returns fraudulent funds to the Department based on the bona fide belief that the funds held by the financial institution were deposited as a result of fraud committed against a taxpayer, the Department, or another agency of the State. Effective immediately.Senate Committee Amendment No. 1 Adds reference to:35 ILCS 5/704AAdds provisions to the introduced bill amending the Illinois Income Tax Act. In a Section concerning withholding taxes, provides that the Department may require any withholding tax return and any W-2 Form that is required to be submitted to the Department to be submitted on magnetic media or electronically (currently, the Department may require the form to be submitted on magnetic media or electronically if the form is required to be submitted to the Internal Revenue Service on magnetic media or electronically). Provides that the due date for submitting W-2 Forms shall be as prescribed by the Department by rule. 2/19/2016SenateFiled with Secretary by Sen. Toi W. Hutchinson 2/19/2016SenateFirst Reading 2/19/2016SenateReferred to Assignments 3/8/2016SenateAssigned to Revenue 3/9/2016SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Toi W. Hutchinson 3/9/2016SenateSenate Committee Amendment No. 1 Referred to Assignments 3/16/2016SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue 3/16/2016SenateSenate Committee Amendment No. 1 Adopted 3/16/2016SenateDo Pass as Amended Revenue; 010-000-000 3/16/2016SenatePlaced on Calendar Order of 2nd Reading March 17, 2016 4/22/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 13, 2016 5/13/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 27, 2016 5/27/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2016 7/31/2016SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments 1/10/2017SenateSession Sine Die