INC TX-REFUNDS IN FUTURE YEARS

Amends the Illinois Income Tax Act. Provides that, if the taxpayer requests and is owed a refund as a result of an overpayment of any tax due under this Act, and if the refund is not paid within 180 days after the return is filed, then the taxpayer may request that the amount of the unpaid refund be applied to the taxpayer's liability in any future tax year. The taxpayer shall not be required to pay penalties or interest on the portion of the future tax liability paid with the refunded amounts. Effective immediately.