92nd General Assembly
Status of SB0196
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 Full Text  Bill Summary

   35 ILCS 5/208.2 new                                                         
   35 ILCS 5/901             from Ch. 120, par. 9-901                          

        Amends the Illinois Income Tax Act.  Provides that an  individual      
   taxpayer  who  paid  residential  real  property  taxes in 1999 on the      
   taxpayer's principal residence is entitled to a restructured rebate in      
   an amount equal to 5% of those taxes  originally due and paid in  1999      
   or $300, whichever is less, minus the amount of any rebate paid to the      
   taxpayer  as  part  of  the  original  homeowner's  tax relief rebate.      
   Requires the Department of Revenue to provide  application  forms  and      
   make  all  rebate  payments  by May 1, 2002 out of the Homeowners' Tax      
   Relief Fund.  Provides  for  the  transfer  of  $24,000,000  from  the      
   Tobacco Settlement Recovery Fund to the Homeowners' Tax Relief Fund to      
   pay for the rebates.  Effective immediately.                                
   FEB-20-2001  S  FIRST READING                                                  
   FEB-20-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-21-2001  S       ASSIGNED TO COMMITTEE               REVENUE               
   MAR-22-2001  S       TO SUBCOMMITTEE                                           
   MAR-22-2001  S                   COMMITTEE               REVENUE               
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary