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 16, 2023
Last action Nov 21, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
0
Committee
1
Feb 17, 2023
Committee
Referred to Rules Committee
lower
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Tony McCombie
RRepublican
Co
Jeff Keicher
RRepublican
Co
Tom Weber
RRepublican
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