Proposed Illinois Firearm Legislation HB0321
Legislation Overview
Title: REPEAL/RESTORE VARIOUS-SB9
Description: Repeals the State Tax Lien Registration Act and the Revised Uniform Unclaimed Property Act. Reenacts the Uniform Disposition of Unclaimed Property Act. Changes various Acts by restoring language deleted by Public Act 100-22 and deleting language added by Public Act 100-22, including, but not limited to, the following changes: (1) amends the Illinois Income Tax Act to provide that: (A) for taxable years beginning on or after January 1, 2019 and beginning prior to January 1, 2025, the income tax rates shall be (i) 3.75% for individuals, trusts, and estates and (ii) 5.25% for corporations; (B) for taxable years beginning on or after January 1, 2025, the income tax rates shall be (i) 3.25% for individuals, trusts, and estates and (ii) 4.8% for corporations; (C) the research and development credit does not apply for taxable years beginning on or after January 1, 2019 (currently, January 1, 2022); (D) provides that the maximum amount of the education expense credit is reduced from $750 to $500 per year; (E) repeals an addition modification for amounts deducted under the Internal Revenue Code for domestic manufacturing and other activities; and (F) repeals provisions disallowing certain exemptions for taxpayers with an income above a certain limit; (2) repeals the State Tax Lien Database; (3) amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act to provide that: (A) the graphic arts machinery exemption sunsets on July 1, 2019 and (B) the manufacturing and assembling machinery and equipment exemption is no longer permanent. Effective immediately.
Session: 101st General Assembly
Last Action: Rule 19(a) / Re-referred to Rules Committee
Last Action Date: March 29, 2019
Sponsors
Note: the first sponsor listed is normally the primary sponsor. If a sponsor's name is a hyperlink you can click on it to 'follow the money'.
1 sponsors: David McSweeney (R);
Percentage of House Of Representatives sponsoring bill: 1% (1 of 118)
History
| Chamber | Date | Action |
| House | Mar 29, 2019 | Rule 19(a) / Re-referred to Rules Committee |
| House | Feb 14, 2019 | To Income Tax Subcommittee |
| House | Feb 5, 2019 | Assigned to Revenue & Finance Committee |
| House | Jan 10, 2019 | Filed with the Clerk by Rep. David McSweeney |
| House | Jan 10, 2019 | First Reading |
| House | Jan 10, 2019 | Referred to Rules Committee |
Texts
| Type | Date | State Link | Text |
| Introduced | Jan 10, 2019 | state link | bill text |
Amendments
| Title | Description | Date | State Link | Text | Adopted |
| There are no amendments to this bill at this time | |||||
Votes - Click on description to view vote roll call
There have not been any votes on this bill
Link: link to state bill page
