IL HB3278 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on February 17 2023 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the capital gains realized by the taxpayer from the taking of property by eminent domain to the extent that those gains are included in the taxpayer's federal taxable income. Effective immediately.

Tracking Information

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Title

INC TX-EMINENT DOMAIN

Sponsors


History

DateChamberAction
2024-04-05HouseRule 19(a) / Re-referred to Rules Committee
2024-03-08HouseTo Revenue-Income Tax Subcommittee
2024-03-01HouseAdded Co-Sponsor Rep. David Friess
2024-02-28HouseAssigned to Revenue & Finance Committee
2023-03-16HouseAdded Co-Sponsor Rep. Chris Miller
2023-03-15HouseAdded Co-Sponsor Rep. Joe C. Sosnowski
2023-03-10HouseRule 19(a) / Re-referred to Rules Committee
2023-03-09HouseTo Revenue-Income Tax Subcommittee
2023-03-01HouseAdded Chief Co-Sponsor Rep. Martin McLaughlin
2023-02-28HouseAssigned to Revenue & Finance Committee
2023-02-17HouseReferred to Rules Committee
2023-02-17HouseFirst Reading
2023-02-17HouseFiled with the Clerk by Rep. Blaine Wilhour

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355203Amended CodeCitation Text

Illinois State Sources


Bill Comments

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