IL HB0654 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that each employer that enters into a profit-sharing agreement with its employees is entitled to a credit in an amount equal to 25% of the distributions made to the employee during the taxable year under the terms of the agreement. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provision.
Title
INC TX-PROFIT SHARING
Sponsors
History
Date | Chamber | Action |
---|---|---|
2019-01-08 | House | Session Sine Die |
2017-03-31 | House | Rule 19(a) / Re-referred to Rules Committee |
2017-02-24 | House | To Income Tax Subcommittee |
2017-02-08 | House | Assigned to Revenue & Finance Committee |
2017-01-25 | House | Referred to Rules Committee |
2017-01-25 | House | First Reading |
2017-01-25 | House | Filed with the Clerk by Rep. John Cavaletto |
Code Citations
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=654&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/HB/10000HB0654.htm |