Bill Status of HB3278 103rd General Assembly
Short Description: INC TX-EMINENT DOMAIN
Rep. Blaine Wilhour - Martin McLaughlin, Joe C. Sosnowski and Chris Miller
| 3/10/2023||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the capital gains realized by the taxpayer from the taking of property by eminent domain to the extent that those gains are included in the taxpayer's federal taxable income. Effective immediately.