IL SB1906 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 9 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 9 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments 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 income or loss that is 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 income or loss that is received from a pass-through entity conducting business within and without Illinois and that is not derived from or connected with Illinois sources. Effective immediately.
Title
INC TX-ILLINOIS SOURCES
Sponsors
| Sen. Chapin Rose [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2023-03-10 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2023-02-21 | Senate | Assigned to Revenue |
| 2023-02-09 | Senate | Referred to Assignments |
| 2023-02-09 | Senate | First Reading |
| 2023-02-09 | Senate | Filed with Secretary by Sen. Chapin Rose |
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=1906&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB1906.htm |
