Bill Title: Amends the Illinois Income Tax Act. Provides that in addition to any tax that may be imposed under Section 201, income from passive investments is subject to an annual surcharge of 0.5%, where the total dollar value of passive investments producing the income equals $2,000,000 or more. Provides that all revenue realized from these provisions shall be deposited into the Common School Fund. Defines "passive activity income".

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB2566 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2019-02-13	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB2566

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB2566 currently on file.