Illinois General Assembly - Bill Status for HB0295

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an addition modification in an amount equal to the deduction for qualified domestic production activities allowed under Section 199 of the Internal Revenue Code for the taxable year. Makes changes concerning the definition of "unitary business group". Provides that moneys attributable to those changes shall be deposited into the Bill Payment Trust Fund. Provides that moneys in the Fund shall be used to make payments to certain bona fide creditors of the State. Amends the State Finance Act to create the Fund. Effective immediately.

Actions

Date	Chamber	Action
1/26/2015	House	Filed with the Clerk by Rep. William Davis
1/27/2015	House	First Reading
1/27/2015	House	Referred to Rules Committee
2/13/2015	House	Assigned to Revenue & Finance Committee
2/20/2015	House	To Income Tax Subcommittee
3/27/2015	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2017	House	Session Sine Die

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