IL HB0267 | 2015-2016 | 99th General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 23 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 23 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that each beneficiary, other than an individual, of a trust or estate shall be allowed a deduction in the taxable year in which the final taxable year of the trust or estate ends. Provides that the deduction shall be treated as a carryover deduction. Contains provisions concerning the number of years in which the beneficiary may carry forward the deduction.
Title
INC TX-NET LOSS-TRUSTS-ESTATES
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2015-03-27 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2015-02-20 | House | To Income Tax Subcommittee |
| 2015-02-03 | House | Assigned to Revenue & Finance Committee |
| 2015-01-23 | House | Referred to Rules Committee |
| 2015-01-23 | House | First Reading |
| 2015-01-23 | House | Filed with the Clerk by Rep. Natalie A. Manley |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 405 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=267&GAID=13&DocTypeID=HB&SessionID=88&GA=99 |
| Text | https://www.ilga.gov/legislation/99/HB/09900HB0267.htm |
