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]

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Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
Senate	Third Reading in Senate	2023-03-30	57	0	2	0	59	Passed	Link	View

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