INC TX-RE INVESTMENT TRUSTS
Summary
Amends the Illinois Income Tax Act. Provides that, for any financial organization and its subsidiaries and affiliates that directly or indirectly own more than 50% of a captive real estate investment trust in a manner that is substantially similar to the ownership structure described in a certain ruling by the Department of Revenue, the income taxation of that organization is on the same basis with respect to the captive real estate investment trust as described in that ruling. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2008
Committee Review
Floor Vote
Governor
Introduced Jan 30, 2008
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
1
Jan 13, 2009
House · Failed
Session Sine Die
Feb 1, 2008
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Mark H. Beaubien, Jr.
RRepublican
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