Bill Title: Amends the Illinois Income Tax Act. Creates an addition modification in an amount equal to the deduction for qualified domestic production activities allowed under Section 199 of the Internal Revenue Code for the taxable year. Makes changes concerning the definition of "unitary business group". Provides that moneys attributable to those changes shall be deposited into the Bill Payment Trust Fund. Amends the State Finance Act to create the Bill Payment Trust Fund. Provides that moneys in the Bill Payment Trust Fund shall be used to make payments to certain bona fide creditors of the State. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2015-01-13 - Session Sine Die [SB3401 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Toi Hutchinson [D]	Primary	Sponsored Bills	SD-040	FollowTheMoney	Ballotpedia	VoteSmart

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