IL HB3419 | 2017-2018 | 100th General Assembly
Discussing IL HB3419 | 2017-2018 | 100th General Assembly
Bill Title: Amends the Illinois Procurement Code. Provides that an expatriate corporation shall be considered a non-resident bidder for purposes of the Code. Provides that no business or member of a unitary business group shall submit a bid for or enter into a contract with a State agency under the Code if the business is an expatriate corporation. Defines "expatriate corporation". Amends the Illinois Income Tax Act. Provides that notwithstanding provisions of the Act, any person formed or incorporated in a foreign tax haven may be a member of a unitary business group without regard to where its business activities are conducted. Defines "foreign tax haven". Amends the General Provisions Article of the Illinois Pension Code. Requires the Illinois Investment Policy Board to make its best efforts to identify all expatriate companies and include those companies in the list of restricted companies distributed to each retirement system and the Illinois State Board of Investment.
Spectrum: Partisan Bill (Democrat 41-1)
Status: (Passed) 2017-11-09 - Public Act . . . . . . . . . 100-0551 [HB3419 Detail]
Text: Latest bill text (Chaptered) [HTML]
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Amends the Illinois Procurement Code. An expatriate corporation shall be considered a non-resident bidder for purposes of the Code. Provides that no business or member of a unitary business group shall submit a bid for or enter into a contract with a State agency under the Code if the business is an expatriate corporation. Amends the Illinois Income Tax Act. Any person formed or incorporated in a foreign tax haven may be a member of a unitary business group without regard to where its business activities are conducted.