IL HB2483This bill amends the Illinois Income Tax Act to clarify what is considered 'surplus' funds in the Income Tax Refund Fund. Specifically, it defines 'surplus' as the cash left in the fund at the end of the fiscal year after accounting for certain specified transfers. The bill aims to ensure a clear understanding of surplus funds for better financial management.
IL HB2483 is a house bill in the Illinois 104th General Assembly, sponsored by Amy Briel (D), currently “Introduced” since February 3, 2025.
We track 10,921 Illinois bills this session, 34 of them sponsored by Amy Briel.
Supporters of this bill argue that it brings clarity and transparency to the handling of surplus funds in the Income Tax Refund Fund. By defining 'surplus' more precisely, it helps ensure that funds are managed responsibly and can be allocated effectively for public services.
Critics may argue that this bill could limit the availability of funds for tax refunds by redefining what constitutes a surplus. They may express concerns that the changes could result in less money being returned to taxpayers, impacting those who rely on these refunds.
About This Analysis
This summary was generated using AI from the bill's official text and metadata. Data sourced from LegiScan and the Illinois General Assembly. Conflict-of-interest analysis for this bill is coming soon.
What does IL HB2483 do?
This bill amends the Illinois Income Tax Act to clarify what is considered 'surplus' funds in the Income Tax Refund Fund. Specifically, it defines 'surplus' as the cash left in the fund at the end of the fiscal year after accounting for certain specified transfers. The bill aims to ensure a clear understanding of surplus funds for better financial management.
What is the status of IL HB2483?
IL HB2483 is currently “Introduced” in the Illinois legislature.
Who sponsored IL HB2483?
Amy Briel (D) sponsored IL HB2483.
