<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for SB 2358         </title>
<shortdesc>INCOME TAX-PASS THROUGH</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. Don Harmon</sponsors>
</sponsor>
<lastaction>
<statusdate>1/10/2023</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/203</reference><aliasreference>from Ch. 120, par. 2-203</aliasreference><reference>35 ILCS 5/601</reference><aliasreference>from Ch. 120, par. 6-601</aliasreference><SynopsisText>Amends the Illinois Income Tax Act. Provides that, when calculating the taxpayer's base income, the taxpayer's federal adjusted gross income shall be modified to exclude the portion of the income or loss received from a trade or business conducted within and without Illinois or from a pass-through entity conducting business within and without Illinois that is not derived from or connected with Illinois sources. Repeals provisions concerning a credit for foreign taxes. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/26/2021</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. John Connor</action>
<statusdate>2/26/2021</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>2/26/2021</statusdate><chamber>Senate</chamber><action>Referred to Assignments</action>
<statusdate>3/23/2021</statusdate><chamber>Senate</chamber><action>Assigned to Revenue</action>
<statusdate>3/23/2021</statusdate><chamber>Senate</chamber><action>Senate Committee Amendment No. 1 Filed with Secretary by Sen. John Connor</action>
<statusdate>3/23/2021</statusdate><chamber>Senate</chamber><action>Senate Committee Amendment No. 1 Referred to Assignments</action>
<statusdate>3/25/2021</statusdate><chamber>Senate</chamber><action>Senate Committee Amendment No. 1 Assignments Refers to Revenue</action>
<statusdate>4/16/2021</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>4/16/2021</statusdate><chamber>Senate</chamber><action>Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>4/30/2022</statusdate><chamber>Senate</chamber><action>Chief Sponsor Changed to Sen. Don Harmon</action>
<statusdate>1/10/2023</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

