Illinois · Senate Bill 1956 · 104th General Assembly

INC TX-INTEREST MODIFICATION

SB 1956 Sponsored by Elgie R. Sims, Jr. In committee

  1. Introduced Feb 6, 2025
  2. In committee Feb 6, 2025
  3. Passed the Senate Next
  4. Passed the House  
  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 in provisions concerning (i) an addition modification for interest paid, accrued, or incurred to a person who would be a member of the taxpayer's unitary business group but for the fact that the person is ordinarily required to apportion business income under different provisions of the Act and (ii) an addition modification for intangible expenses and costs otherwise…

Read the full title (118 words)

Amends the Illinois Income Tax Act. Makes changes in provisions concerning (i) an addition modification for interest paid, accrued, or incurred to a person who would be a member of the taxpayer's unitary business group but for the fact that the person is ordinarily required to apportion business income under different provisions of the Act and (ii) an addition modification for intangible expenses and costs otherwise allowed as a deduction in computing the taxpayer's base income that were paid, accrued, or incurred to a person who would be a member of the taxpayer's unitary business group but for the fact that the person is ordinarily required to apportion business income under different provisions of the Act. Effective immediately.

Every action

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

  1. SenateFiled with Secretary by Sen. Elgie R. Sims, Jr.
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Revenue · Senate Revenue
  5. SenateRule 2-10 Committee Deadline Established As April 11, 2025
  6. SenateRule 2-10 Committee Deadline Established As May 9, 2025
  7. SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
  8. SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
  9. CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

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.