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IL HB3169

INC TX-REBATES


summary

Introduced
02/16/2023
In Committee
02/17/2023
Crossed Over
Passed
Dead
01/08/2025

Introduced Session

103rd General Assembly

Bill Summary

Amends the Illinois Income Tax Act. Provides that the Department of Revenue shall pay an annual rebate to each individual taxpayer who files an Illinois income tax return with the Department on or before the second Friday in October of the calendar year for which the rebate is made. Provides that surplus moneys in the Income Tax Refund Fund shall be transferred to the Illinois Individual Income Tax Rebate Fund (currently, the General Revenue Fund). Creates the Illinois Individual Income Tax Rebate Fund. Provides that moneys in the Fund shall be used for the purpose of paying rebates. Effective immediately.

AI Summary

This bill amends the Illinois Income Tax Act to create the Illinois Individual Income Tax Rebate Fund and provide annual rebates to individual taxpayers who file their Illinois income tax returns by the second Friday in October. The bill transfers any surplus funds from the Income Tax Refund Fund to the new Rebate Fund, to be used for these rebate payments. The bill also allows the Department of Revenue to adopt emergency rules to expedite the implementation of the new rebate program, and takes effect immediately.

Sponsors (34)

Last Action

Session Sine Die (on 01/07/2025)

bill text


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