Sunday, Nov. 22, 2009

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Bill Information Bill Number: HB0174 Title: Income Tax Increases and School Funding Sponsor: Burke (D) Location: SENATE Summary: Amends the State Budget Law. Transfers funds from the General Revenue Fund to the Common School Fund. Amends the Income Tax Act. Increases the income tax rate for corporations, individuals, trusts, and estates, the residential real property tax credit, the education expense credit, and the earned income tax credit. Concerns the Local Government Distributive Fund. Adds certain taxable services to the Retailers Occupation Tax Act. Amends the School Code. Relates to funding for various programs. Category: Financial Aid Last Updated: 2009-07-28 More Information: http://www.ilga.gov/legislation/billstatus.asp?DocNum=0174&GAID=10&GA=96&DocTypeID=HB&LegID=40191&SessionID=76

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