Bill Status of HB 4454   95th General Assembly

Short Description:  INC TX-ACCOUNTING

House Sponsors
Rep. Mark H. Beaubien, Jr.-Barbara Flynn Currie-Thomas Holbrook-Gary Hannig

Senate Sponsors
(Sen. Terry Link-Don Harmon and Martin A. Sandoval)


Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/404from Ch. 120, par. 4-404

Synopsis As Introduced
Amends the Illinois Income Tax Act. In a Section authorizing the Director of Revenue to make certain adjustments to base income if it appears to the Director that any agreement, understanding, or arrangement exists between any persons that causes any person's base income allocable to this State to be improperly or inaccurately reflected, limits the provision to non-business income and provides that the Director may not make these adjustment before the Department of Revenue adopts rules concerning the adjustments. Provides that, unless the principal purpose of the agreement, understanding, or arrangement is for the avoidance of federal or Illinois income tax, any adjustment made by the Director and the rules required to be adopted must be in accordance with certain provisions of the Internal Revenue Code. Effective immediately.

House Amendment No. 1
Deletes everything after the enacting clause. Amends the Illinois Income Tax Act concerning the Director of Revenue's authority to make certain adjustments to base income. Limits this adjustment authority to non-business income. Requires that the adjustments must be in accordance with certain provisions of the Internal Revenue Code. Provides that, in making an adjustment, the Director must apply the provisions of the Illinois Income Tax Act in the manner in which they were in effect during that taxable year, unless otherwise specifically authorized by statute. Provides that there is no rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion. Effective immediately.

House Amendment No. 2
Deletes everything after the enacting clause. Amends the Illinois Income Tax Act concerning the Director of Revenue's authority to make adjustments to base income in the case of an agreement, understanding, or arrangement between persons. Requires that those adjustments must be in accordance with certain provisions of the Internal Revenue Code, unless the principal purpose of the agreement, understanding, or arrangement is for the avoidance of income taxes. Provides that an agreement, understanding, or arrangement for the principal purpose of avoidance of an income tax is presumed to exist between certain members of a unitary business group. Provides that there is no rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion. Effective immediately.

Actions 
DateChamber Action
  1/17/2008HouseFiled with the Clerk by Rep. Mark H. Beaubien, Jr.
  1/17/2008HouseChief Co-Sponsor Rep. Barbara Flynn Currie
  1/18/2008HouseFirst Reading
  1/18/2008HouseReferred to Rules Committee
  2/6/2008HouseAssigned to Revenue Committee
  2/22/2008HouseRecommends Do Pass Subcommittee/ Revenue Committee; 003-000-000
  2/22/2008HouseHouse Amendment No. 1 Filed with Clerk by Revenue Committee
  2/22/2008HouseHouse Amendment No. 1 Adopted in Revenue Committee; by Voice Vote
  2/22/2008HouseDo Pass as Amended / Short Debate Revenue Committee; 011-000-000
  2/22/2008HousePlaced on Calendar 2nd Reading - Short Debate
  2/22/2008HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook
  2/22/2008HouseAdded Chief Co-Sponsor Rep. Gary Hannig
  2/28/2008HouseSecond Reading - Short Debate
  2/28/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/1/2008HouseRecalled to Second Reading - Short Debate
  4/1/2008HouseHeld on Calendar Order of Second Reading - Short Debate
  4/3/2008HouseHouse Amendment No. 2 Filed with Clerk by Rep. Mark H. Beaubien, Jr.
  4/3/2008HouseHouse Amendment No. 2 Referred to Rules Committee
  4/7/2008HouseHouse Amendment No. 2 Rules Refers to Revenue Committee
  4/8/2008HouseHouse Amendment No. 2 Recommends Be Adopted Revenue Committee; 009-000-000
  4/9/2008HouseHouse Amendment No. 2 Adopted by Voice Vote
  4/9/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/15/2008HouseThird Reading - Short Debate - Passed 109-000-000
  4/16/2008SenateArrive in Senate
  4/16/2008SenatePlaced on Calendar Order of First Reading
  4/16/2008SenateChief Senate Sponsor Sen. Terry Link
  4/16/2008SenateAdded as Alternate Chief Co-Sponsor Sen. Don Harmon
  4/16/2008SenateFirst Reading
  4/16/2008SenateReferred to Rules
  4/23/2008SenateAdded as Alternate Co-Sponsor Sen. Martin A. Sandoval
  5/15/2008SenateRule 2-10 Committee Deadline Established As May 22, 2008; Substantive House Bills Out of Committee
  1/13/2009HouseSession Sine Die

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