INC TAX-CANNABIS House SponsorsRep. La Shawn K. Ford 1/7/2025HouseSession Sine Die 35 ILCS 5/203from Ch. 120, par. 2-203 Amends the Illinois Income Tax Act. Creates an income tax deduction in an amount equal to any federal deduction disallowed pursuant to Section 280E of the Internal Revenue Code related to the production and distribution of adult-use cannabis products by an entity licensed under the Cannabis Regulation and Tax Act, if those amounts are not used as the basis for any other tax deduction, exemption, or credit and not otherwise required to be added back when computing the taxpayer's base income. Effective immediately. 12/16/2022HousePrefiled with Clerk by Rep. La Shawn K. Ford 1/12/2023HouseFirst Reading 1/12/2023HouseReferred to Rules Committee 2/28/2023HouseAssigned to Revenue & Finance Committee 3/9/2023HouseTo Revenue-Income Tax Subcommittee 3/10/2023HouseRule 19(a) / Re-referred to Rules Committee 1/7/2025HouseSession Sine Die