INC TX-BILL PAYMENT
Summary
Amends the Illinois Income Tax Act. Creates an addition modification in an amount equal to the deduction for qualified domestic production activities allowed under Section 199 of the Internal Revenue Code for the taxable year. Makes changes concerning the definition of "unitary business group". Provides that moneys attributable to those changes shall be deposited into the Bill Payment Trust Fund. Provides that moneys in the Fund shall be used to make payments to certain bona fide creditors of the State. Amends the State Finance Act to create the Fund. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2015
Committee Review
Floor Vote
Governor
Introduced Jan 26, 2015
Last action Jan 10, 2017
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
1
Committee
4
Mar 27, 2015
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 20, 2015
Lower · Passed
To Income Tax Subcommittee
lower
Feb 13, 2015
Committee
Assigned to Revenue & Finance Committee
lower
Jan 27, 2015
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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