House Sponsors: CURRIE. Short description: INC TAX-CORP-DEDUCT RPLCMNT TX Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. For taxable years 1997 and thereafter, adds a deduction from corporate income taxes for an amount equal to all amounts of income distributable to an entity subject to the Personal Property Tax Replacement Income Tax including amounts distributable to organizations exempt from federal income tax under certain provisions of the Internal Revenue Code. Provides that a corporation which would have been eligible for a deduction from base income under these provisions for taxable years 1997, 1998, or 1999 may file a claim for a refund for those taxable years. Exempts the deduction from the sunset provisions. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status