Illinois HB2463 amends the Illinois Income Tax Act to adjust the distribution of tax revenues among various state funds.
HB2463 modifies the allocation of tax revenues collected under the Illinois Income Tax Act. It specifies the percentages of tax revenue to be deposited into the Income Tax Refund Fund, the Commitment to Human Services Fund, the Fund for the Advancement of Education, and the Tax Compliance and Administration Fund. The bill also details the transfers from the General Revenue Fund to the Local Government Distributive Fund and the Tobacco Settlement Recovery Fund to the Income Tax Refund Fund.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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