Bill Status of HB 4718   95th General Assembly


Short Description:  INC TX-RE INVESTMENT TRUSTS

House Sponsors
Rep. Mark H. Beaubien, Jr.

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/1501from Ch. 120, par. 15-1501

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for any financial organization and its subsidiaries and affiliates that directly or indirectly own more than 50% of a captive real estate investment trust in a manner that is substantially similar to the ownership structure described in a certain ruling by the Department of Revenue, the income taxation of that organization is on the same basis with respect to the captive real estate investment trust as described in that ruling. Effective immediately.

Actions 
DateChamber Action
  1/30/2008HouseFiled with the Clerk by Rep. Mark H. Beaubien, Jr.
  2/1/2008HouseFirst Reading
  2/1/2008HouseReferred to Rules Committee
  1/13/2009HouseSession Sine Die

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