Illinois Code | Chapter 35

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ILHB1459Intro
25%
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Cod...
[Detail][Text][Discuss]
2024-03-18
To House Sales, Amusement & Other Taxes Committee
ILHB1576Intro
25%
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Increases the exclusion amount to $8,000,000 for persons dying on or after January 1, 2024 (currently, $4,000,000). Effective immediately.
[Detail][Text][Discuss]
2024-03-18
To House Sales, Amusement & Other Taxes Committee
ILHB1582Intro
25%
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that no tax shall be imposed under the Act for persons dying on or after the effective date of the amendatory Act or for transfers made on or after the effective date of th...
[Detail][Text][Discuss]
2024-03-18
To House Rules Committee
ILHB2993Intro
25%
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Increases the exclusion amount from $4,000,000 to $12,060,000 for persons dying on or after January 1, 2024. Effective immediately.
[Detail][Text][Discuss]
2024-03-18
To House Rules Committee
ILHB3661Intro
25%
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that a decedent dying on or after January 1, 2024 may, in a written revocable testamentary document, allocate all or a portion of the decedent's unused exclusion amount, in...
[Detail][Text][Discuss]
2024-03-18
To House Rules Committee
ILHB4430Intro
25%
Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500...
[Detail][Text][Discuss]
2024-03-18
To House Revenue: Income Tax Committee
ILHB4519Intro
25%
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024 and prior to January 1, 2026, the exclusion amount shall be the applicable exclusion amount calculated under the Interna...
[Detail][Text][Discuss]
2024-03-18
To House Rules Committee
ILSB2832Intro
25%
Amends the Property Tax Code. Provides that no interest or penalties shall be imposed with respect to property that is included in a decedent's probate estate at the time of a delinquency if the representative of the decedent's estate applies with th...
[Detail][Text][Discuss]
2024-03-18
Added as Co-Sponsor Sen. Craig Wilcox
ILSB3573Intro
25%
Amends the Property Tax Code. Provides that, for taxable year 2024, the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption is $75,000. Provides that, for taxable year 2025 and subsequent taxable years, ...
[Detail][Text][Discuss]
2024-03-18
To Senate Revenue Committee
ILSB0280Intro
25%
Creates the Department of Lottery and Gaming Act. Creates the Department of Lottery and Gaming to consolidate the functions of the Department of the Lottery, the Illinois Racing Board, and the Illinois Gaming Board. Creates the Lottery and Gaming Boa...
[Detail][Text][Discuss]
2024-03-15
To Senate Gaming, Wagering, and Racing Committee
ILSB0172Intro
25%
Creates the Endow Illinois Tax Credit Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who provide an endowment gift to a permanent endowment fund during the taxable year and receive a certificate of receipt fo...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB0163Intro
25%
Amends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB0238Intro
25%
Amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Modifies the provisions of the Act to apply to veterans and veteran-owned businesses. Modifies a Section concerning the short title. Changes the title of the Act...
[Detail][Text][Discuss]
2024-03-15
To Senate Procurement Committee
ILSB0210Intro
25%
Amends the Illinois Income Tax Act. Provides that a taxpayer who may claim a qualifying student as a dependent is allowed a credit of up to $2,000 for qualified tuition and fee expenses paid by the taxpayer. Provides that the term qualifying student ...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB0316Intro
25%
Amends the Property Tax Code. Provides that railroad property shall be assessed based on the location of the property (rather than as a unit).
[Detail][Text][Discuss]
2024-03-15
Rule 2-10 Committee Deadline Established As April 5, 2024
ILSB0318Intro
25%
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for the purpose of purchasing materials, labor, and professional services to soundproof a residential home ...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1284Intro
25%
Amends the Property Tax Code. Provides that the county board may designate a geographic area within the county as a flood zone. Provides that homestead property that is located within a flood zone is entitled to a reduction of $5,000 from the propert...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1313Intro
25%
Amends the Illinois Income Tax Act. Creates an income tax deduction for any amounts paid by the taxpayer's employer on behalf of the taxpayer as part of an educational assistance program. Creates an income tax deduction for any amounts paid by the ta...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1444Intro
25%
Amends the Illinois Income Tax Act. Creates an income tax credit for dependents of the taxpayer. Provides that the maximum amount of the credit is $700 per qualified dependent of the taxpayer. Provides that the maximum amount shall be reduced by $24 ...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1583Intro
25%
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to 10% of the stipend or salary paid by the taxpayer to up to (i) 5 qualified college interns or (ii) 5 qualified high school interns during the taxable year. Provides that no ta...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1532Intro
25%
Amends the Illinois Income Tax Act. Creates an income tax credit for Illinois licensed wine manufacturers and craft brewers in an amount equal to 50% of the qualified costs incurred by a qualified taxpayer during the taxable year. Prohibits a taxpaye...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1530Intro
25%
Amends the Property Tax Code. Creates a homestead exemption in the amount of a reduction of $5,000 from the equalized assessed value of property of the surviving spouse of a police officer or firefighter who is killed in the line of duty. Effective i...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1744Intro
25%
Amends the Gas Use Tax Law. Exempts certain business enterprises from taxation under the Act. Amends the Gas Revenue Tax Act. Provides that the definition of "gross receipts" does not include consideration received from certain business enterprises. ...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB1810Intro
25%
Amends the Illinois Income Tax Act. Makes changes concerning the federal depreciation deduction and net operating losses to restore provisions that were in effect prior to Public Act 102-16. Amends the Business Corporation Act of 1983. Provides that ...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2030Intro
25%
Amends the Property Tax Code. Provides that, for taxable year 2023, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption is (i) $75,000 for qualified property in a county with 3,000,000 or more inhabi...
[Detail][Text][Discuss]
2024-03-15
Rule 2-10 Committee Deadline Established As April 5, 2024
ILSB1819Intro
25%
Amends the Property Tax Code. Provides that the assessor shall publish the assessed value of all property that qualifies for a hospital exemption under the Code in the taxable year as well as the estimated property tax liability for that property. Am...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2075Intro
25%
Amends Illinois Income Tax Act. Creates a legacy tax credit for businesses that are headquartered in the State. Creates an employee tax credit and a collective bargaining employee tax credit. Effective immediately.
[Detail][Text][Discuss]
2024-03-15
Rule 2-10 Committee Deadline Established As April 5, 2024
ILSB2084Intro
25%
Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obta...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2108Intro
25%
Amends the Property Tax Code. Provides that, for taxable years 2024 and thereafter, in the case of a veteran with any service connected disability, the property is exempt from taxation under this Code. Removes a requirement that taxpayers receiving t...
[Detail][Text][Discuss]
2024-03-15
Rule 2-10 Committee Deadline Established As April 5, 2024
ILSB2317Intro
25%
Amends the Property Tax Code. Provides that property that has been granted the homestead exemption for veterans with disabilities is 100% exempt from taxation under the Code if the veteran has a service connected disability of 60% or more (currently,...
[Detail][Text][Discuss]
2024-03-15
Rule 2-10 Committee Deadline Established As April 5, 2024
ILSB2201Intro
25%
Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that the taxes also apply to leases of tangible personal property, other than computer software, property that is subject to the Rental Purchase Agreement Occupation and Use Tax A...
[Detail][Text][Discuss]
2024-03-15
Rule 2-10 Committee Deadline Established As April 5, 2024
ILSB2207Intro
25%
Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, for aircraft purchased on or after January 1, 2024, "use as rolling stock moving in interstate commerce" occurs whe...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2360Intro
25%
Creates the Judicial Campaign Reform Act and amends the Election Code, the State Finance Act, the Illinois Income Tax Act, and the Clerks of Courts Act. Creates a voluntary program of public financing of election campaigns for the offices of judges o...
[Detail][Text][Discuss]
2024-03-15
To Senate Elections Committee
ILSB2204Intro
25%
Amends the Illinois Income Tax Act. Provides that the maximum withholding tax credit for full-time equivalent employees is determined by the metropolitan and nonmetropolitan area of the State that is the base of operations of the employee, as those a...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2265Intro
25%
Amends the School Code. Provides that the State Board of Education shall establish a teacher recruitment and retention program, which shall encourage both new and experienced teachers to seek employment with qualifying public schools by providing for...
[Detail][Text][Discuss]
2024-03-15
Rule 2-10 Committee Deadline Established As April 5, 2024
ILHB2529Intro
25%
Amends the Property Tax Code. Increases the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption from $65,000 to $75,000.
[Detail][Text][Discuss]
2024-03-15
To House Property Tax Committee
ILHB3511Intro
25%
Amends the Property Tax Code. Provides that, if property qualifies for the senior citizens homestead exemption, but the property owner fails to apply for the exemption during the application period, then the property owner may apply to any or all of ...
[Detail][Text][Discuss]
2024-03-15
To House Property Tax Committee
ILSB2553Intro
25%
Amends the Hotel Operators' Occupation Tax Act. Creates an exemption for gross rental receipts received by a hotel operator when renting, leasing, or letting rooms to an entity that (i) is organized and operated exclusively for charitable, religious,...
[Detail][Text][Discuss]
2024-03-15
To Senate Revenue Committee
ILSB2564Intro
25%
Creates the Short-Term Rental Occupation Tax Act. Imposes taxes upon short-term rental transactions facilitated by a hosting platform. Provides that one tax is imposed at the rate of 5% of 94% of the gross rental receipts from the transaction. Provid...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2574Intro
25%
Amends the State Finance Act to create the Working Families Fund. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act and various other tax Acts. Provides that the vendor discount is ...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2594Intro
25%
Amends the Illinois Income Tax Act. Removes a provision providing that the aggregate amount of credits awarded under a provision granting a credit to volunteer emergency workers may not exceed $5,000,000 in any calendar year. Effective immediately.
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2624Intro
25%
Amends the Illinois Income Tax Act. Creates an income tax credit for certain qualified individual taxpayers who rent a dwelling in Illinois for use as their principal place of residence. Provides that the credit shall be equal to 5% of the documented...
[Detail][Text][Discuss]
2024-03-15
To Senate Revenue Committee
ILSB2708Intro
25%
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2024, the additional standard exemption for taxpayers who have attained the age of 65 before the end of the taxable year and their spouses is $2,000...
[Detail][Text][Discuss]
2024-03-15
To Senate Revenue Committee
ILSB2700Intro
25%
Amends the Property Tax Code. In provisions concerning the homestead exemption for veterans with disabilities, provides that the exemption applies to all real property that is the primary residence of a veteran with a disability (currently, property ...
[Detail][Text][Discuss]
2024-03-15
To Senate Revenue Committee
ILSB2656Intro
25%
Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2673Intro
25%
Amends the Property Tax Code. Provides that, for taxable years 2024 and thereafter, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption is $75,000 for all qualified property. Amends the Senior Citize...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2707Intro
25%
Amends the Illinois Income Tax Act. Creates an income tax credit for an individual taxpayer who is a medical professional in a community-based practice who serves without compensation as a preceptor for at least one student from a qualifying institut...
[Detail][Text][Discuss]
2024-03-15
To Senate Assignments Committee
ILSB2717Intro
25%
Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are the custodians of one or more children who attend an eligible preschool program in the State during the taxable year. Provides that the amount of the credit shall ...
[Detail][Text][Discuss]
2024-03-15
To Senate Revenue Committee
ILSB2709Intro
25%
Amends the Property Tax Code. Provides that property that has been granted the homestead exemption for veterans with disabilities is 100% exempt from taxation under the Code if the veteran has a service connected disability of 60% or more (currently,...
[Detail][Text][Discuss]
2024-03-15
To Senate Revenue Committee
ILSB2710Intro
25%
Amends the Property Tax Code. Provides that, beginning in taxable year 2024, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption shall be increased each year by the percentage increase, if any, in th...
[Detail][Text][Discuss]
2024-03-15
To Senate Revenue Committee
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