AN ACT DISALLOWING CERTAIN CORPORATE DEDUCTIONS FROM GROSS INCOME.

SB 1201 prevents corporations from claiming tax deductions related to commercial real property that has remained vacant for over three years when calculating operating losses. This directly affects businesses owning commercial buildings (like offices or retail spaces) that have been unoccupied for more than three years. The bill amends tax code to disallow these specific deductions from gross income calculations under section 12-217. It does not apply to residential properties or properties vacant for less than three years.