LAUZEN. 35 ILCS 5/203 from Ch. 120, par. 2-203 Amends the Illinois Income Tax Act. Allows individuals, corporations, and trusts and estates a deduction on the income tax equal to the amount of interest expense paid by the taxpayer (i) that is related to an investment in a business doing business in Illinois and (ii) that is not allowable as an interest deduction on the taxpayer's federal income tax return. Effective immediately. 97-02-07 S FIRST READING 97-02-07 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE REVENUE 97-03-06 S POSTPONED 97-03-06 S COMMITTEE REVENUE 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary