90th General Assembly Summary of HB1455    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
MOORE,EUGENE-MOORE,ANDREA-BLACK-MURPHY-HOWARD.

Short description: 
INC TX-BASE INC-ADJUSTMENT                                                 

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that, for  purposes      
   of  determining  the  base  income  of  a corporation, the amount of a      
   taxpayer's adjustment under Section 832(b)(5)(B)(i)  of  the  Internal      
   Revenue  Code  shall  not be treated as an amount of interest excluded      
   from gross income in the computation of taxable income.   Exempt  from      
   the sunset provisions of Section 250.  Effective January 1, 1998.           
          STATE MANDATES FISCAL NOTE                                           
          In the opinion of DCCA, HB1455 fails to create a State mandate       
          under the State Mandates Act.                                        
          FISCAL NOTE (Dept. of Revenue)                                       
          The Dept. of Revenue cannot estimate the fiscal impact.              
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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