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 Bill Status of SB1719  100th General Assembly


Short Description:  INC TAX-INVESTMENT MANAGEMENT

Senate Sponsors
Sen. Daniel Biss - Ira I. Silverstein

Last Action
DateChamber Action
  4/6/2017SenatePostponed - Revenue

Statutes Amended In Order of Appearance
35 ILCS 5/205from Ch. 120, par. 2-205


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.

Actions 
DateChamber Action
  2/9/2017SenateFiled with Secretary by Sen. Daniel Biss
  2/9/2017SenateFirst Reading
  2/9/2017SenateReferred to Assignments
  2/28/2017SenateAssigned to Revenue
  3/9/2017SenatePostponed - Revenue
  3/16/2017SenatePostponed - Revenue
  3/16/2017SenateAdded as Chief Co-Sponsor Sen. Ira I. Silverstein
  3/17/2017SenateRule 2-10 Committee Deadline Established As April 7, 2017
  4/6/2017SenatePostponed - Revenue
  4/7/2017SenateRule 2-10 Committee Deadline Established As May 5, 2017

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