IL SB1719 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 10-0)
Status: Engrossed on May 23 2017 - 50% progression
Action: 2017-06-22 - Added Alternate Chief Co-Sponsor Rep. Mary E. Flowers
Text: Latest bill text (Engrossed) [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

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Title

INC TAX-INVESTMENT MANAGEMENT

Sponsors


Roll Calls

2017-05-23 - Senate - Third Reading in Senate (Y: 32 N: 24 NV: 3 Abs: 0) [PASS]

History

DateChamberAction
2017-06-22HouseAdded Alternate Chief Co-Sponsor Rep. Mary E. Flowers
2017-06-21HouseHeld on Calendar Order of Second Reading - Short Debate
2017-06-21HouseSecond Reading - Short Debate
2017-05-31HouseFinal Action Deadline Extended-9(b) June 30, 2017
2017-05-31HouseFiscal Note Filed
2017-05-31HousePlaced on Calendar 2nd Reading - Short Debate
2017-05-31HouseDo Pass / Short Debate Revenue & Finance Committee; 007-004-000
2017-05-30HouseHome Rule Note Filed
2017-05-30HouseState Mandates Fiscal Note Filed
2017-05-26HouseFinal Action Deadline Extended-9(b) May 31, 2017
2017-05-25HouseAssigned to Revenue & Finance Committee
2017-05-25HouseJudicial Note Filed
2017-05-24HouseReferred to Rules Committee
2017-05-24HouseFirst Reading
2017-05-24HouseHousing Affordability Impact Note Filed
2017-05-24HouseState Debt Impact Note Filed
2017-05-24HousePension Note Filed
2017-05-24HouseBalanced Budget Note Filed
2017-05-24HouseState Debt Impact Note Requested by Rep. David McSweeney
2017-05-24HousePension Note Requested by Rep. David McSweeney
2017-05-24HouseJudicial Note Requested by Rep. David McSweeney
2017-05-24HouseHousing Affordability Impact Note Requested by Rep. David McSweeney
2017-05-24HouseHome Rule Note Requested by Rep. David McSweeney
2017-05-24HouseBalanced Budget Note Requested by Rep. David McSweeney
2017-05-24HouseState Mandates Fiscal Note Requested by Rep. David McSweeney
2017-05-24HouseFiscal Note Requested by Rep. David McSweeney
2017-05-24HouseChief House Sponsor Rep. Emanuel Chris Welch
2017-05-24HouseArrived in House
2017-05-23SenateThird Reading - Passed; 032-024-001
2017-05-23SenatePlaced on Calendar Order of 3rd Reading
2017-05-23SenateSenate Floor Amendment No. 2 Adopted; Biss
2017-05-23SenateRecalled to Second Reading
2017-05-23SenateSenate Floor Amendment No. 2 Be Approved for Consideration Assignments
2017-05-23SenateSenate Floor Amendment No. 2 Referred to Assignments
2017-05-23SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Daniel Biss
2017-05-23SenateAdded as Co-Sponsor Sen. Mattie Hunter
2017-05-22SenateAdded as Co-Sponsor Sen. Cristina Castro
2017-05-18SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
2017-05-11SenateAdded as Co-Sponsor Sen. Omar Aquino
2017-05-04SenatePlaced on Calendar Order of 3rd Reading May 5, 2017
2017-05-04SenateSecond Reading
2017-05-04SenateRule 2-10 Third Reading Deadline Established As May 31, 2017
2017-05-04SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
2017-05-04SenatePlaced on Calendar Order of 2nd Reading May 5, 2017
2017-05-04SenateDo Pass as Amended Revenue; 005-004-000
2017-05-03SenateSenate Committee Amendment No. 1 Adopted
2017-05-03SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
2017-05-03SenateSenate Committee Amendment No. 1 Referred to Assignments
2017-05-03SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Daniel Biss
2017-05-02SenateAdded as Co-Sponsor Sen. Emil Jones, III
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

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