IL SB1115 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 16-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 16-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides for a water's edge apportionment election for certain members of a unitary business group. Provides that, with respect to foreign corporations that make a water's edge election, the deduction for dividends is limited to 75%.
Title
INC TX-WATER'S EDGE
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-01-13 | Senate | Session Sine Die |
| 2019-05-30 | Senate | Added as Co-Sponsor Sen. Patricia Van Pelt |
| 2019-05-29 | Senate | Added as Co-Sponsor Sen. Christopher Belt |
| 2019-04-24 | Senate | Added as Co-Sponsor Sen. Laura Fine |
| 2019-04-09 | Senate | Added as Co-Sponsor Sen. Cristina Castro |
| 2019-03-27 | Senate | Added as Co-Sponsor Sen. Jacqueline Y. Collins |
| 2019-03-26 | Senate | Added as Co-Sponsor Sen. Elgie R. Sims, Jr. |
| 2019-03-26 | Senate | Added as Chief Co-Sponsor Sen. Melinda Bush |
| 2019-03-22 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2019-03-22 | Senate | Added as Co-Sponsor Sen. John J. Cullerton |
| 2019-03-21 | Senate | Added as Co-Sponsor Sen. Don Harmon |
| 2019-03-20 | Senate | Postponed - Revenue |
| 2019-03-20 | Senate | Added as Co-Sponsor Sen. Emil Jones, III |
| 2019-03-13 | Senate | Added as Co-Sponsor Sen. David Koehler |
| 2019-02-19 | Senate | Added as Chief Co-Sponsor Sen. Ram Villivalam |
| 2019-02-13 | Senate | Added as Chief Co-Sponsor Sen. Robert Peters |
| 2019-02-07 | Senate | Added as Chief Co-Sponsor Sen. Toi W. Hutchinson |
| 2019-02-06 | Senate | Added as Co-Sponsor Sen. Mattie Hunter |
| 2019-02-06 | Senate | Assigned to Revenue |
| 2019-02-05 | Senate | Referred to Assignments |
| 2019-02-05 | Senate | First Reading |
| 2019-02-05 | Senate | Filed with Secretary by Sen. Heather A. Steans |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 1501 | Amended Code | Citation Text |
| 35 | 5 | 203 | Amended Code | Citation Text |
| 35 | 5 | 304 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1115&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/SB/10100SB1115.htm |
