INC TAX & PROP TAX-EDUCATION
Summary
Amends the State Finance Act, the Illinois Income Tax Act, and the Property Tax Code. Beginning on July 1, 2004, increases income taxes and provides that two-thirds of the increased revenue shall be deposited into the School District Property Tax Relief Fund to fund property tax abatements and that one-third of the increased revenue shall be deposited into the Common School Fund. Provides a mechanism for property tax abatements. Effective July 1, 2004.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2004
Committee Review
Floor Vote
Governor
Introduced Feb 9, 2004
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
1
Jan 11, 2005
House · Failed
Session Sine Die
Feb 9, 2004
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
George Scully, Jr.
DDemocratic
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