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Bill Status of
SB2288 95th
General Assembly
Full
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Short Description: EDUCATION
FUNDING-TAX SWAP
Senate Sponsors
Sen.
James T. Meeks -
John J. Cullerton -
Emil Jones Jr. -
Kimberly A. Lightford -
Jacqueline Y. Collins,
M. Maggie Crotty,
James F. Clayborne Jr.,
Rickey R. Hendon,
Mattie Hunter,
Michael W. Frerichs,
Iris Y. Martinez,
William Delgado,
Louis S. Viverito,
Michael Noland,
Heather Steans,
Deanna Demuzio,
Donne E. Trotter,
David Koehler,
Kwame Raoul and
Martin A. Sandoval
Last Action
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Date |
Chamber |
Action |
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2/28/2008 |
Senate |
Placed on Calendar Order of 2nd Reading March 5, 2008 |
Statutes Amended In Order of
Appearance
Synopsis As Introduced
Amends the State Finance Act, the Illinois Income Tax
Act, and the Property Tax Code. Increases the income tax rates for
individuals, trusts, and estates from 3% to 5% of the taxpayer's net income
and increases the rate of income tax for corporations from 4.8% to 8% of the
taxpayer's net income. Creates an income tax credit for families with
incomes below certain levels. Creates the School District Property Tax
Relief Fund, and requires the General Assembly appropriate certain amounts
into the Fund. Provides that grants must be made from the Fund to school
districts. Requires that property taxes be abated in school districts by the
amount of the grants from the Fund. Creates the Higher Education Operating
Assistance Fund, and requires the General Assembly to appropriate certain
amounts into the Fund. Requires certain distributions from that Fund.
Creates the Invest in Illinois Fund for the purpose of funding the cost of
issuance, interest, fees, principal payments, and other debt service on
Invest in Illinois Bonds and requires appropriations into the Fund. Creates
the Capital Strategy Board to make recommendations concerning the issuance
of bonds. Contains several continuing appropriation requirements. Amends the
School Code. Creates the Early Childhood Fund to support the Illinois Early
Learning Standards and their use in early childhood programs and other
programs. Makes changes concerning special education reimbursement for
personnel. With respect to the State aid formula, makes changes concerning
the foundation level of support, creation of the School Improvement
Partnership Pool Fund, and supplemental general State aid. Provides that the
General Assembly shall appropriate from the General Revenue Fund to the
Common School Fund an Education Appropriation Minimum. Effective
immediately.
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Bill
Status of SB1252 95th
General Assembly
Full
Text Votes View
All Actions Printer-Friendly
Version
Short Description: PROP
TX-PTELL-PENSION
LEVIES
Senate Sponsors
Sen.
James F. Clayborne
Jr.
and
Martin A. Sandoval
Last Action
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Date |
Chamber |
Action |
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12/3/2007 |
Senate |
Pursuant to Senate Rule 3-9(b) / Referred to
Rules |
Statutes Amended In
Order of Appearance
Synopsis As Introduced
Amends the Property Tax Extension Limitation
Law in the Property Tax Code. Exempts, from the definition of
"aggregate extension", all contributions to a pension fund created
under Article 3, Article 4, or Article 7 of the Illinois Pension
Code. Effective immediately.
Actions
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Date |
Chamber |
Action |
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2/9/2007 |
Senate |
Filed with Secretary by
Sen. James F. Clayborne, Jr. |
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2/9/2007 |
Senate |
First Reading |
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2/9/2007 |
Senate |
Referred to
Rules |
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2/21/2007 |
Senate |
Assigned to
Revenue |
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3/2/2007 |
Senate |
Postponed -
Revenue |
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3/15/2007 |
Senate |
Do Pass
Revenue; 006-004-000 |
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3/15/2007 |
Senate |
Placed on Calendar Order of 2nd Reading March
20, 2007 |
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3/22/2007 |
Senate |
Second Reading |
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3/22/2007 |
Senate |
Placed on Calendar Order of 3rd Reading March
27, 2007 |
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3/30/2007 |
Senate |
Third Reading - Consideration Postponed |
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3/30/2007 |
Senate |
Placed on Calendar - Consideration Postponed
April 18, 2007 |
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4/25/2007 |
Senate |
Added as Co-Sponsor
Sen. Martin A. Sandoval |
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5/31/2007 |
Senate |
Rule 2-10 Third Reading Deadline Extended to
December 31, 2007 |
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12/3/2007 |
Senate |
Pursuant to Senate Rule 3-9(b) / Referred to
Rules |
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