IL SB3456 | 2021-2022 | 102nd General Assembly
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 18 2022 - 25% progression, died in committee
Action: 2022-02-16 - Added as Co-Sponsor Sen. Chapin Rose
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 18 2022 - 25% progression, died in committee
Action: 2022-02-16 - Added as Co-Sponsor Sen. Chapin Rose
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Removes a provision for taxable years ending on or after December 31, 2021 and prior to December 31, 2024 limiting the net loss carryover deduction to $100,000. Effective immediately.
Title
INC TX-NET OPERATING LOSS
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2022-02-16 | Senate | Added as Co-Sponsor Sen. Chapin Rose |
| 2022-01-18 | Senate | Referred to Assignments |
| 2022-01-18 | Senate | First Reading |
| 2022-01-18 | Senate | Filed with Secretary by Sen. Brian W. Stewart |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 207 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3456&GAID=16&DocTypeID=SB&SessionID=110&GA=102 |
| Text | https://www.ilga.gov/legislation/102/SB/10200SB3456.htm |
