R-808 - 05/14/2002 - TAX - ResolutionsRESOLUTION 2002 -TX- INCM -R- 808
A RESOLUTION OF THE VILLAGE OF OAK BROOK,
DU PAGE AND COOK COUNTIES, IL
CONCERNING STATE INCOME TAX AND PHOTOPROCESSING
TAX SHARED WITH MUNICIPALITIES
WHEREAS, the Local Share of the Illinois Income Tax is one -tenth or 0.3% of the 3% individual
income tax and 0.48% of the 4.8% regular corporate income tax; and
i
WHEREAS, a change to one - eleventh will reduce each and every Illinois municipality's revenue
by approximately $6.75 per person, per year; and
WHEREAS, the $84 million per year received by the State of Illinois from the local share,of state
income tIax will not significantly solve or ameliorate a state budgetary crisis; and
WHEREAS, municipalities, since the adoption of sales tax reform in 1986, have received money
from the state sales tax raised from photoprocessing; and
WHEREAS, that photoprocessing revenue is distributed to municipalities at the rate of
approximately $2.10 per person, per year or about $26 million per year; and
WHEREAS, municipalities have suffered just as severe a loss of income tax revenue from the
faltering economy and the recently enacted Federal Economic Stimulus Package; and
WHEREAS, municipalities have already been required to make budgetary cuts to accommodate
lowered revenues from income tax, sales tax, motor fuel tax and utility tax; and
WHEREAS, proposals before the Illinois General Assembly have suggested that the local one -
tenth share of the state income tax be reduced to a one - eleventh share and that the photoprocessing tax
sharing with municipalities be abolished; and
WHEREAS, those changes would reduce local revenues by a total of $8.85 per person, per year
for a total loss of $110 million per year statewide or approximately $77,000 to the Village of Oak Brook;
and
WHEREAS, Illinois municipal officials feel the General Assembly, by taking this action, would be
reneging, on a longstanding, mutually beneficial partnership with Illinois municipalities.
NOW, THEREFORE, BE IT RESOLVED THAT THE PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS assembled at its
regular meeting of May 14, 2002, urges the Illinois General Assembly and Governor George Ryan to
oppose efforts to reduce the local government share of the Illinois Income Tax to less than the current
one -tenth of net receipts and to abolish the sharing of State Photoprocessing Tax with municipalities.
v
of the
Resolution 2002 -TX- INCM -R- 808
State Income Tax and; Photo -
processing Tax Shared with
Municipalities, Page 21
ASSED AND APPROVED this 14th day of May, 2002 by the President and Board of Trustees
Ilage of Oak Brook, DuPage and Cook Counties, Illinois, according to a roll call vote as follows: