House Sponsors: DANIELS. Senate Sponsors: PETERSON Short description: INCOME TAXES-TECH Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning income allocation. SENATE AMENDMENT NO. 1. Adds reference to: 35 ILCS 5/405 Amends the Illinois Income Tax Act. Provides that if, on the termination of an estate or trust, the estate or trust has a net loss carryforward, that carryforward shall be allowed to the beneficiaries succeeding to the property of the estate or trust in the same manner as allowed for federal income tax purposes. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status