INC TX-NET LOSS-TRUSTS-ESTATES
Summary
Amends the Illinois Income Tax Act. Provides that each beneficiary, other than an individual, of a trust or estate shall be allowed a deduction in the taxable year in which the final taxable year of the trust or estate ends. Provides that the deduction shall be treated as a carryover deduction. Contains provisions concerning the number of years in which the beneficiary may carry forward the deduction.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2014
Committee Review
Floor Vote
Governor
Introduced Feb 13, 2014
Last action Dec 3, 2014
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
1
Committee
4
Mar 28, 2014
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 11, 2014
Lower · Passed
To Income Tax Subcommittee
lower
Mar 3, 2014
Committee
Assigned to Revenue & Finance Committee
lower
Feb 13, 2014
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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