INC TX-PASS THROUGH

What it does

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

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.

Every action

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

1. May 2, 2023HouseSecond Reading - Short Debate
2. May 2, 2023HousePlaced on Calendar Order of 3rd Reading - Short Debate
3. May 11, 2023HouseThird Reading - Short Debate - Passed 110-000-000
4. May 11, 2023SenatePassed Both Houses
5. Jun 9, 2023SenateSent to the Governor
6. Jul 28, 2023SenateGovernor Approved
7. Jul 28, 2023SenateEffective Date January 1, 2024
8. Jul 28, 2023SenatePublic Act . . . . . . . . . 103-0396

Roll calls

4 recorded votes: 2 on the floor, 2 in committee. Each shows how every member voted.

Committee and other votes

Sponsors

The member who introduced it.

• Win StollerR Primary sponsor · District 37
• Steven ReickR Floor sponsor · District 63