HB 3476 Illinois House · 102nd Regular Session

INC TX-CAPITAL GAINS SURCHARGE

Summary

Amends the Illinois Income Tax Code. Provides, for tax years ending on or after December 31, 2021, a surcharge is imposed on an Illinois resident's low-taxed investment income. Defines "low-taxed investment income". Provides how the surcharge is calculated. Exempts from the surcharge: (i) resident married individuals filing joint returns, if Illinois taxable income is not more than $250,000; (ii) a resident head of household, if Illinois taxable income is not more than $200,000; and (iii) resident unmarried individuals, resident married individuals filing separate returns, and resident estates and trusts, if Illinois taxable income is not more than $150,000. Effective immediately.

Bill status failed 1 of 4 stages cleared

Introduction

Feb 2021

Committee Review

Floor Vote

Governor

Introduced Feb 19, 2021 Last action Jan 10, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 18, 2022

Committee

Rule 19(a) / Re-referred to Rules Committee

lower

Feb 15, 2022

Lower · Passed

To Income Tax Subcommittee

lower

Feb 9, 2022

Committee

Assigned to Revenue & Finance Committee

lower

Mar 27, 2021

Committee

Rule 19(a) / Re-referred to Rules Committee

lower

Mar 16, 2021

Committee

Assigned to Revenue & Finance Committee

lower

Feb 22, 2021

Committee

Referred to Rules Committee

lower

1 primary · 3 co-sponsors