Bill Status of SB1715  104th General Assembly

Short Description:  INC TX-BASIS ADJUSTMENT

Senate Sponsors
Sen. Michael E. Hastings

Last Action
DateChamber Action
  2/5/2025SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/203from Ch. 120, par. 2-203


Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a deduction for any amount included in gross income as a result of a basis adjustment to investment credit property under the Internal Revenue Code. Effective immediately.

Actions 
DateChamber Action
  2/5/2025SenateFiled with Secretary by Sen. Michael E. Hastings
  2/5/2025SenateFirst Reading
  2/5/2025SenateReferred to Assignments