INC TX-LGDF IF RATE REDUCED House SponsorsRep. John M. Cabello-Robert W. Pritchard 12/3/2014HouseSession Sine Die 35 ILCS 5/901from Ch. 120, par. 9-901 Amends the Illinois Income Tax Act. Provides that, if the rate of tax is reduced because the State has exceeded the State spending limit, then, beginning with the first distribution to occur after the effective date of the reduction, the State Comptroller shall order transferred and the State Treasurer shall transfer each month from the General Revenue Fund to the Local Government Distributive Fund an amount equal to 1/10 of the net revenue realized under Act during the preceding month. Effective immediately. 1/29/2014HouseFiled with the Clerk by Rep. John M. Cabello 2/3/2014HouseFirst Reading 2/3/2014HouseReferred to Rules Committee 2/5/2014HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard 12/3/2014HouseSession Sine Die