Date	Chamber	Action
1/10/2023	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/203

from Ch. 120, par. 2-203

35 ILCS 5/1501

from Ch. 120, par. 15-1501

Synopsis As Introduced
Amends the Illinois Income Tax Act. Contains provisions concerning a deduction for income included in the taxpayer's federal adjusted gross income and deemed received under Section 951A (GILTI) or Section 952 (Subpart F) of the Internal Revenue Code.

Fiscal Note (Dept. of Revenue)

The bill refers to a corporate taxpayer's calculation of federal adjusted gross income. However, corporate taxpayers do not have a federal adjusted gross income. They have federal taxable income. Additionally, the bill proposes to disallow a subtraction at the State level that would have been made in tax years 2018 and 2019 for amounts included federally pursuant to Section 965 of the Internal Revenue Code. This is likely to raise issues as to the constitutionality of the proposal. For these reasons, an estimate cannot be determined.

Actions 

Date	Chamber	Action
2/19/2021	House	Filed with the Clerk by Rep. Delia C. Ramirez
2/22/2021	House	First Reading
2/22/2021	House	Referred to Rules Committee
3/16/2021	House	Assigned to Revenue & Finance Committee
3/22/2021	House	Fiscal Note Filed
3/25/2021	House	Added Co-Sponsor Rep. Kelly M. Cassidy
3/27/2021	House	Rule 19(a) / Re-referred to Rules Committee
5/7/2021	House	Added Co-Sponsor Rep. Will Guzzardi
5/14/2021	House	Added Co-Sponsor Rep. Anna Moeller
2/9/2022	House	Assigned to Revenue & Finance Committee
2/15/2022	House	To Income Tax Subcommittee
2/18/2022	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2023	House	Session Sine Die

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