Illinois · House Bill 2237 · 103rd General Assembly

INC TAX-INVESTMENT PARTNERSHIP

HB 2237 Sponsored by Kelly M. Burke Died in committee

  1. Introduced Feb 8, 2023
  2. In committee Feb 8, 2023
  3. Died  
  4. Passed the Senate  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Illinois Income Tax Act. Makes changes to the definition of "investment partnership" to provide that a dealer in qualifying investment securities may be considered an investment partnership. Allows a partnership interest to be considered a qualified security if the interest qualifies as a security within the meaning of the federal Securities Act of 1933. In provisions requiring that no less than 90% of…

Read the full title (117 words)

Amends the Illinois Income Tax Act. Makes changes to the definition of "investment partnership" to provide that a dealer in qualifying investment securities may be considered an investment partnership. Allows a partnership interest to be considered a qualified security if the interest qualifies as a security within the meaning of the federal Securities Act of 1933. In provisions requiring that no less than 90% of the investment partnership's gross income shall consist of interest, dividends, and gains from the sale or exchange of qualifying investment securities, provides that that includes the distributive share of partnership income from lower-tier partnership interests and does not include income from partnerships that are operating at a federal taxable loss. Effective immediately.

Every action

14 steps, oldest first, as the legislature records them.

Show the 6 earlier steps
  1. HouseFiled with the Clerk by Rep. Kelly M. Burke
  2. HouseFirst Reading
  3. CommitteeReferred to Rules Committee · House Rules
  4. HouseAdded Co-Sponsor Rep. Daniel Didech
  5. CommitteeAssigned to Revenue & Finance Committee · House Revenue & Finance
  6. HouseAdded Co-Sponsor Rep. Margaret Croke
  1. HouseAdded Co-Sponsor Rep. Curtis J. Tarver, II
  2. HouseAdded Co-Sponsor Rep. Joe C. Sosnowski
  3. CommitteeTo Revenue - Property Tax Subcommittee · House Property Tax Subcommittee
  4. HouseAdded Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
  5. CommitteeTo Revenue-Income Tax Subcommittee · House Income Tax Subcommittee
  6. HouseAdded Co-Sponsor Rep. Steven Reick
  7. CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules
  8. HouseSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 6 cosponsors: 4 Democrats, 2 Republicans.

All 6 cosponsors

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.