IL HB4798 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that a Personal Property Tax Replacement Income Tax in an additional amount equal to 7.5% of its net income shall be imposed on limited liability companies. Deletes language that exempts investment partnerships from a Personal Property Tax Replacement Income Tax.
Title
INCOME TAX-LLC
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-08 | House | Session Sine Die |
| 2018-04-25 | House | Added Co-Sponsor Rep. Will Guzzardi |
| 2018-02-14 | House | Referred to Rules Committee |
| 2018-02-14 | House | First Reading |
| 2018-02-13 | House | Filed with the Clerk by Rep. Emanuel Chris Welch |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 201 | Amended Code | Citation Text |
| 35 | 5 | 205 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4798&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
| Text | https://www.ilga.gov/legislation/100/HB/10000HB4798.htm |
