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 Bill Status of SB1798  100th General Assembly


Short Description:  EXPATRIATE CORP/FOREIGN HAVEN

Senate Sponsors
Sen. Michael E. Hastings and Mattie Hunter

Last Action
DateChamber Action
  3/16/2017SenatePlaced on Calendar Order of 2nd Reading March 28, 2017

Statutes Amended In Order of Appearance
30 ILCS 500/1-15.120 new
30 ILCS 500/45-10
30 ILCS 500/50-17 new
35 ILCS 5/1501from Ch. 120, par. 15-1501
40 ILCS 5/1-110.16


Synopsis As Introduced
Amends the Illinois Procurement Code. Provides that an expatriate corporation shall be considered a non-resident bidder for purposes of the Code. Provides that no business or member of a unitary business group shall submit a bid for or enter into a contract with a State agency under the Code if the business is an expatriate corporation. Defines "expatriate corporation". Amends the Illinois Income Tax Act. Provides that notwithstanding provisions of the Act, any person formed or incorporated in a foreign tax haven may be a member of a unitary business group without regard to where its business activities are conducted. Defines "foreign tax haven". Amends the General Provisions Article of the Illinois Pension Code. Requires the Illinois Investment Policy Board to make its best efforts to identify all expatriate companies and include those companies in the list of restricted companies distributed to each retirement system and the Illinois State Board of Investment.

Actions 
DateChamber Action
  2/9/2017SenateFiled with Secretary by Sen. Michael E. Hastings
  2/9/2017SenateFirst Reading
  2/9/2017SenateReferred to Assignments
  2/28/2017SenateAssigned to Executive
  3/14/2017SenateAdded as Co-Sponsor Sen. Mattie Hunter
  3/16/2017SenateDo Pass Executive; 011-004-000
  3/16/2017SenatePlaced on Calendar Order of 2nd Reading March 28, 2017

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