Bill Status of SB1719 100th General Assembly
Short Description: INC TAX-INVESTMENT MANAGEMENT
Sen. Daniel Biss - Ira I. Silverstein
| 4/6/2017||Senate||Postponed - Revenue|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax. Imposes a privilege tax at a rate of 20% on partnerships and S corporations engaged in the business of conducting investment management services, until such time as a federal law with an identical effect has been enacted. Provides for the determination of the tax due, defines "investment management services". Effective immediately, but this Act does not take effect at all unless the states of Connecticut, New Jersey, and New York enact laws having an effect identical to this Act.
|Date||Chamber|| Action|| 2/9/2017||Senate||Filed with Secretary by Sen. Daniel Biss|| 2/9/2017||Senate||First Reading|| 2/9/2017||Senate||Referred to Assignments|| 2/28/2017||Senate||Assigned to Revenue|| 3/9/2017||Senate||Postponed - Revenue|| 3/16/2017||Senate||Postponed - Revenue|| 3/16/2017||Senate||Added as Chief Co-Sponsor Sen. Ira I. Silverstein|| 3/17/2017||Senate||Rule 2-10 Committee Deadline Established As April 7, 2017|| 4/6/2017||Senate||Postponed - Revenue|| 4/7/2017||Senate||Rule 2-10 Committee Deadline Established As May 5, 2017|