INC TX-CHECKOFFS

Amends the Illinois Income Tax Act. In a Section concerning tax checkoff explanations, increases the amount of the minimum contribution amount from $100,000 to $125,000. Provides that: (i) if the contributions to all of the funds meet the minimum contribution amount, then the minimum contribution amount for the subsequent taxable years is increased by $25,000; and (ii) if the contributions to all of the funds fail to meet the minimum contribution amount, then the minimum contribution amount for the subsequent taxable years is decreased by $25,000. Provides that, in any year, the individual income tax return forms may not contain explanations and spaces for more than 18 funds. Requires the Department of Revenue to maintain a reserve list of all income tax checkoffs in excess of the 18 that are placed on income tax return forms. Effective immediately.