Bill Title: 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.

Spectrum: Partisan Bill (Republican 5-0)

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB3278 Detail]

Text: Latest bill text (Introduced) [HTML]

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