<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 4062         </title>
<shortdesc>INC TX-LGDF</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Ryan Spain-Tony M. McCombie-Brad Stephens-Anthony DeLuca-John Egofske and Jennifer Sanalitro</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>30 ILCS 115/2</reference><aliasreference>from Ch. 85, par. 612</aliasreference><reference>35 ILCS 5/901</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Provides that the following amounts shall be deposited into the Local Government Distributive Fund as the revenue is realized from the specified taxes: (i) 10% of the net revenue realized from the tax imposed under the Act upon individuals, trusts, and estates; (ii) 10% of the net revenue realized from the tax imposed by the Act upon electing pass-through entities; and (iii) 10% of the net revenue realized from the tax imposed by the Act upon corporations. Amends the State Revenue Sharing Act to provide that amounts paid into the Local Government Distributive Fund are appropriated on a continuing basis. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>5/2/2023</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Ryan Spain</action>
<statusdate>5/2/2023</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Tony M. McCombie</action>
<statusdate>5/2/2023</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Brad Stephens</action>
<statusdate>5/2/2023</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Anthony DeLuca</action>
<statusdate>5/2/2023</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. John Egofske</action>
<statusdate>5/2/2023</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>5/2/2023</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>5/10/2023</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Jennifer Sanalitro</action>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

