Illinois Senate Bill 2047

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on July 28 2023 - 100% progression
Action: 2023-07-28 - Public Act . . . . . . . . . 103-0396
Text: Latest bill text (Chaptered) [HTML]

Amends the Illinois Income Tax Act. Provides that, if the taxpayer is a partnership or Subchapter S corporation, the credit is allowed to pass through to the partners and shareholders in accordance with the determination of income and distributive share of income under Sections 702 and 704 and Subchapter S of the Internal Revenue Code, or as otherwise agreed by the partners or shareholders, provided that such agreement shall be executed in writing prior to the due date of the return for the taxable year and meet such other requirements as the Department of Revenue may establish by rule.

INC TX-PASS THROUGH

Sen. Win Stoller [R]

Rep. Steven Reick [R]

2023-05-11 - House - Third Reading in House (Y: 110 N: 0 NV: 2 Abs: 0) [PASS]
2023-03-29 - Senate - Motion in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]

Date	Chamber	Action
2023-07-28	Senate	Public Act . . . . . . . . . 103-0396
2023-07-28	Senate	Effective Date January 1, 2024
2023-07-28	Senate	Governor Approved
2023-06-09	Senate	Sent to the Governor
2023-05-11	Senate	Passed Both Houses
2023-05-11	House	Third Reading - Short Debate - Passed 110-000-000
2023-05-02	House	Placed on Calendar Order of 3rd Reading - Short Debate
2023-05-02	House	Second Reading - Short Debate
2023-04-26	House	Placed on Calendar 2nd Reading - Short Debate
2023-04-26	House	Do Pass / Short Debate Revenue & Finance Committee; 019-000-000
2023-04-18	House	Assigned to Revenue & Finance Committee
2023-03-30	House	Referred to Rules Committee
2023-03-30	House	First Reading
2023-03-30	House	Chief House Sponsor Rep. Steven Reick
2023-03-30	House	Arrived in House
2023-03-29	Senate	Third Reading - Passed; 057-000-000
2023-03-23	Senate	Placed on Calendar Order of 3rd Reading ** March 24, 2023
2023-03-21	Senate	Placed on Calendar Order of 3rd Reading March 22, 2023
2023-03-21	Senate	Second Reading
2023-03-09	Senate	Placed on Calendar Order of 2nd Reading March 10, 2023
2023-03-09	Senate	Do Pass Revenue; 009-000-000
2023-02-21	Senate	Assigned to Revenue
2023-02-09	Senate	Referred to Assignments
2023-02-09	Senate	First Reading
2023-02-09	Senate	Filed with Secretary by Sen. Win Stoller

Chapter	Article	Section	Citation Type	Statute Text
35	5	201	Amended Code	Citation Text
35	5	214	Amended Code	Citation Text
35	5	216	Amended Code	Citation Text
35	5	218	Amended Code	Citation Text
35	5	222	Amended Code	Citation Text
35	5	224	Amended Code	Citation Text
35	5	228	Amended Code	Citation Text
35	5	229	Amended Code	Citation Text
35	5	231	Amended Code	Citation Text
35	5	237	Amended Code	Citation Text
35	5	251	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2047&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2047.htm
Text	https://www.ilga.gov/legislation/103/SB/10300SB2047eng.htm
Text	https://www.ilga.gov/legislation/103/SB/10300SB2047enr.htm
Text	https://www.ilga.gov/legislation/publicacts/103/103-0396.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/103/senate/10300SB2047_03292023_035039.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/103/house/10300SB2047_05112023_026000T.pdf