IL SB1719 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 9 2017 - 25% progression
Action: 2017-04-07 - Rule 2-10 Committee Deadline Established As May 5, 2017
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax. Imposes a privilege tax at a rate of 20% on partnerships and S corporations engaged in the business of conducting investment management services, until such time as a federal law with an identical effect has been enacted. Provides for the determination of the tax due, defines "investment management services". Effective immediately, but this Act does not take effect at all unless the states of Connecticut, New Jersey, and New York enact laws having an effect identical to this Act.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

INC TAX-INVESTMENT MANAGEMENT

Sponsors


History

DateChamberAction
2017-04-07SenateRule 2-10 Committee Deadline Established As May 5, 2017
2017-04-06SenatePostponed - Revenue
2017-03-17SenateRule 2-10 Committee Deadline Established As April 7, 2017
2017-03-16SenateAdded as Chief Co-Sponsor Sen. Ira I. Silverstein
2017-03-16SenatePostponed - Revenue
2017-03-09SenatePostponed - Revenue
2017-02-28SenateAssigned to Revenue
2017-02-09SenateReferred to Assignments
2017-02-09SenateFirst Reading
2017-02-09SenateFiled with Secretary by Sen. Daniel Biss

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355205Amended CodeCitation Text

Illinois State Sources


Bill Comments

feedback