Bill Status of SB 1582   102nd General Assembly

Short Description:  INC TAX-VARIOUS

Senate Sponsors
Sen. Laura M. Murphy

House Sponsors
(Rep. William Davis)


Last Action  View All Actions

DateChamber Action
  1/10/2023SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/211
35 ILCS 5/303from Ch. 120, par. 3-303
35 ILCS 5/304from Ch. 120, par. 3-304
35 ILCS 5/710from Ch. 120, par. 7-710
35 ILCS 5/902from Ch. 120, par. 9-902

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, when a taxpayer sells or transfers the major part of (i) the stock of goods which he is engaged in the business of selling, (ii) furniture or fixtures, (iii) machinery and equipment, or (iv) real property, then the taxpayer shall notify the Department of Revenue (currently, the Chicago office of the Department of Revenue) no more than 10 business days before (currently, after) the sale or transfer. Provides that payments of winnings from sports wagering conducted in accordance with the Sports Wagering Act are allocable to this State. In provisions concerning the Economic Development for a Growing Economy (EDGE) Tax Credit, provides that, if, during any taxable year, a taxpayer ceases operations at a project location that is the subject of an EDGE agreement with the intent to terminate operations in the State, then the taxpayer's State income tax liability shall be increased by the amount of any credit allowed prior to the date the taxpayer ceases operations.

Senate Floor Amendment No. 1
In provisions concerning recapture of Economic Development for a Growing Economy Tax Credits, provides that the taxpayer's income tax liability shall be increased by the amount of any credit allowed under the Agreement for that project location prior to the date the taxpayer ceases operations (in the introduced bill, the amount of any credit allowed prior to the date the taxpayer ceases operations).

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Robert F. Martwick
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/9/2021SenateAssigned to Revenue
  3/19/2021SenateDo Pass Revenue; 009-000-000
  3/19/2021SenatePlaced on Calendar Order of 2nd Reading March 23, 2021
  4/5/2021SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
  4/5/2021SenateSenate Floor Amendment No. 1 Referred to Assignments
  4/13/2021SenateSenate Floor Amendment No. 1 Assignments Refers to Revenue
  4/21/2021SenateSecond Reading
  4/21/2021SenatePlaced on Calendar Order of 3rd Reading April 22, 2021
  4/21/2021SenateSenate Floor Amendment No. 1 Recommend Do Adopt Revenue; 010-000-000
  4/22/2021SenateRecalled to Second Reading
  4/22/2021SenateSenate Floor Amendment No. 1 Adopted; Martwick
  4/22/2021SenateThird Reading - Passed; 059-000-000
  4/23/2021HouseArrived in House
  4/23/2021HouseChief House Sponsor Rep. William Davis
  4/23/2021HouseFirst Reading
  4/23/2021HouseReferred to Rules Committee
  5/4/2021HouseAssigned to Revenue & Finance Committee
  5/15/2021HouseRule 19(a) / Re-referred to Rules Committee
  10/19/2021SenateChief Sponsor Changed to Sen. Laura M. Murphy
  4/5/2022HouseFinal Action Deadline Extended-9(b) April 8, 2022
  4/5/2022HouseAssigned to Executive Committee
  4/5/2022HouseMoved to Suspend Rule 21 Rep. Jay Hoffman
  4/5/2022HouseSuspend Rule 21 - Prevailed
  4/6/2022HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Greg Harris
  4/6/2022HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  4/6/2022HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
  4/6/2022HouseDo Pass / Short Debate Executive Committee; 009-006-000
  4/6/2022HousePlaced on Calendar 2nd Reading - Short Debate
  4/6/2022HouseSecond Reading - Short Debate
  4/6/2022HouseHeld on Calendar Order of Second Reading - Short Debate
  4/11/2022HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2023SenateSession Sine Die

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