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SB 1715

Illinois Senate bill in Session 104.

Status: in_committee. Latest action: February 5, 2025.

INC TX-BASIS ADJUSTMENT.

Bill ID IL-104-SB-1715
Session 104
Status in_committee
Committee Assignments
Senate in_committee 2025-02-05
Tax / Budget / Appropriations
Summary

Amends the Illinois Income Tax Act. Creates a deduction for any amount included in gross income as a result of a basis adjustment to investment credit property under the Internal Revenue Code. Effective immediately.

Sponsor
Michael E. Hastings
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-02-05 Introduced Bill introduced
2025-02-05 Status in_committee
2025-02-05 Latest Action 2/05/2025 - Senate:
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