INC TX-BASIS ADJUSTMENT
Summary
Amends the Illinois Income Tax Act. Creates a deduction for any amount included in gross income as a result of a basis adjustment to investment credit property under the Internal Revenue Code. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 5, 2025
Last action Feb 5, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Feb 5, 2025
Committee
Referred to Assignments
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Mike Hastings
DDemocratic
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