INC TAX-INCREASE RATE
Summary
Amends the State Finance Act. Creates the State Capital Projects Fund. Provides that the sum of $146,000,000 shall be transferred from the State Capital Projects Fund to the General Revenue Fund in January and July of each year. Provides that the balance remaining in the Fund must be used for capital projects and the payment of debt service on bonds issued for capital projects. Provides that moneys in the Road Fund may be appropriated to and expended by the Illinois Department of Transportation only. Amends the Illinois Income Tax Act. Increases the tax rate to 3.375% for individuals, trusts, and estates, and 5.4% for corporations. Provides that the additional proceeds attributable to the increase must be deposited into the State Capital Projects Fund. Amends the Illinois Vehicle Code to increase various weight limits. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2009
Committee Review
Floor Vote
Governor
Introduced Feb 20, 2009
Last action Jan 12, 2011
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
9
Key actions
0
Committee
5
Jan 12, 2011
Senate · Failed
Session Sine Die
Apr 3, 2009
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Mar 13, 2009
Senate · Reported by committee
Rule 2-10 Committee Deadline Established As April 3, 2009
Mar 12, 2009
Senate · Reported by committee
To Executive Subcommittee on State And Local Government
Mar 4, 2009
Senate · Referred to committee
Assigned to Executive
Feb 20, 2009
Senate · Referred to committee
Referred to Assignments
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
John M. Sullivan
DDemocratic
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