Bill Title: Amends the Illinois Income Tax Act. Provides that, in the case of an entity that elects entity-level tax treatment under the Act, the term "net income" does not include certain distributions to retired partners or shareholders under a retirement or disability plan, to the extent that those distributions are exempt from tax under specified provisions of the Act. Effective immediately.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Engrossed) 2023-04-28 - Rule 19(a) / Re-referred to Rules Committee [SB1147 Detail]

Text: Latest bill text (Engrossed) [HTML]

---

PolitiCorps Conversations

Start PolitiCorps Debate

Title	PolitiCorps	Access	Comments	Views	Last Post
There are no visible public or private PolitiCorps discussions concerning the 2023 Illinois SB1147 at this time.

Social Comments on IL SB1147