Illinois General Assembly - Bill Status for SB2124
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 Bill Status of SB2124  102nd General Assembly


Senate Sponsors
Sen. Robert Peters - Mike Simmons, Ram Villivalam and Omar Aquino

Last Action
DateChamber Action
  2/26/2021SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/201

Synopsis As Introduced
Amends the Illinois Income Tax Code. Provides, for tax years ending on or after December 31, 2021, a surcharge is imposed on an Illinois resident's low-taxed investment income. Defines "low-taxed investment income". Provides how the surcharge is calculated. Exempts from the surcharge: (i) resident married individuals filing joint returns, if Illinois taxable income is not more than $250,000; (ii) a resident head of household, if Illinois taxable income is not more than $200,000; and (iii) resident unmarried individuals, resident married individuals filing separate returns, and resident estates and trusts, if Illinois taxable income is not more than $150,000. Effective immediately.

DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Robert Peters
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  4/21/2021SenateAdded as Chief Co-Sponsor Sen. Mike Simmons
  5/7/2021SenateAdded as Co-Sponsor Sen. Ram Villivalam
  5/17/2021SenateAdded as Co-Sponsor Sen. Omar Aquino

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