IL HB3124 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 16 2023 - 25% progression
Action: 2023-02-17 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 16 2023 - 25% progression
Action: 2023-02-17 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that, when calculating the taxpayer's base income, the taxpayer's federal adjusted gross income shall be modified to exclude (i) the portion of the income or loss received from a trade or business conducted within and without Illinois and that is not derived from or connected with Illinois sources and (ii) the portion of the income or loss received from a pass-through entity conducting business within and without Illinois that is not derived from or connected with Illinois sources. Effective immediately.
Title
INC TX-ILLINOIS SOURCES
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-02-17 | House | Referred to Rules Committee |
| 2023-02-17 | House | First Reading |
| 2023-02-16 | House | Filed with the Clerk by Rep. Anthony DeLuca |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 203 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3124&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB3124.htm |
