Illinois Senate Bill 2126 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on February 26 2021 - 25% progression, died in committee
Action: 2021-05-19 - Added as Co-Sponsor Sen. Robert F. Martwick
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that all the corporations, wherever incorporated or domiciled, that are members of a unitary business shall file a combined return as a combined group. Makes changes to the definition of "unitary business". Contains provisions concerning a water's edge election. Provides that, with respect to unitary business groups, "United States" means the 50 states of the United States, the District of Columbia, and United States' territories and possessions.

INC TX-COMBINED REPORTING

Sen. Robert Peters [D]	Sen. Mike Simmons [D]	Sen. Ram Villivalam [D]	Sen. Omar Aquino [D]
Sen. Robert Martwick [D]

Date	Chamber	Action
2021-05-19	Senate	Added as Co-Sponsor Sen. Robert F. Martwick
2021-05-17	Senate	Added as Co-Sponsor Sen. Omar Aquino
2021-05-07	Senate	Added as Co-Sponsor Sen. Ram Villivalam
2021-04-21	Senate	Added as Co-Sponsor Sen. Mike Simmons
2021-02-26	Senate	Referred to Assignments
2021-02-26	Senate	First Reading
2021-02-26	Senate	Filed with Secretary by Sen. Robert Peters

Chapter	Article	Section	Citation Type	Statute Text
35	5	1501	Amended Code	Citation Text
35	5	304	Amended Code	Citation Text
35	5	304.1	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2126&GAID=16&DocTypeID=SB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/SB/10200SB2126.htm