The implications of HB5662 on state laws are limited due to its nature as a technical amendment rather than a substantive change. This bill does not introduce new tax rates or alter existing tax obligations for residents or businesses within Illinois. Its primary purpose revolves around ensuring consistency and clarity in the legal text of the Illinois Income Tax Act. As such, the anticipated impact on state revenue or taxpayer behavior is negligible.
Summary
House Bill 5662, introduced by Representative Kelly M. Burke, aims to amend the Illinois Income Tax Act. The primary focus of the bill is to make a technical change related to the short title of the Act. This amendment is seen as a straightforward legislative update with no extensive implications for tax policy or structure. As a technical correction, it seeks to clarify the language of the existing statute, ensuring that the text is accurate and up-to-date.
Contention
As a technical change bill, HB5662 is unlikely to generate significant contention among legislators or stakeholders. However, any amendment to tax law can occasionally spark discussions regarding the transparency and efficiency of legislative processes. Given that this bill does not propose any contentious changes to taxation policy, opposition or debate is expected to be minimal, focusing mainly on procedural aspects rather than the content of the amendment.