REVENUE-VARIOUS
Summary
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 no franchise tax shall be imposed on foreign or domestic corporations on or after January 1, 2024, and repeals those provisions on January 1, 2025. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Floor Vote
Governor
Introduced Feb 9, 2023
Last action Mar 15, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
14
Key actions
0
Committee
5
Mar 15, 2024
Committee
Rule 3-9(a) / Re-referred to Assignments
lower
Jan 10, 2024
Committee
Re-assigned to Revenue
lower
Mar 10, 2023
Committee
Rule 3-9(a) / Re-referred to Assignments
lower
Feb 21, 2023
Committee
Assigned to Revenue
lower
Feb 9, 2023
Committee
Referred to Assignments
lower
1 primary · 7 co-sponsors
Sponsors
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