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 Bill Status of HB3419  100th General Assembly


Short Description:  EXPATRIATE CORP/FOREIGN HAVEN

House Sponsors
Rep. Jaime M. Andrade, Jr. - Martin J. Moylan - Christian L. Mitchell, Katie Stuart and Silvana Tabares

Last Action
DateChamber Action
  3/23/2017HousePlaced on Calendar Order of 3rd Reading - Short Debate

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.

 Fiscal Note (Dept. of Revenue)
 This bill would have no impact on State income tax revenue. Since the Illinois Income Tax Act is already a territorial based taxing system, a corporate inversion transaction is not a State Income tax avoidance scheme. Under current law, the Illinois Income Tax Act taxes U.S. companies only on their domestic income derived from Illinois business activities but does not tax foreign income. As a result, the bill does not provide a remedy to any State income tax planning.

Actions 
DateChamber Action
  2/9/2017HouseFiled with the Clerk by Rep. Jaime M. Andrade, Jr.
  2/10/2017HouseFirst Reading
  2/10/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to State Government Administration Committee
  3/8/2017HouseAdded Chief Co-Sponsor Rep. Christian L. Mitchell
  3/8/2017HouseDo Pass / Short Debate State Government Administration Committee; 005-002-000
  3/9/2017HousePlaced on Calendar 2nd Reading - Short Debate
  3/9/2017HouseFiscal Note Requested by Rep. Tom Demmer
  3/15/2017HouseSecond Reading - Short Debate
  3/15/2017HouseHeld on Calendar Order of Second Reading - Short Debate
  3/17/2017HouseFiscal Note Filed
  3/21/2017HouseAdded Co-Sponsor Rep. Katie Stuart
  3/23/2017HouseSecond Reading - Short Debate
  3/23/2017HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/23/2017HouseAdded Co-Sponsor Rep. Silvana Tabares
  3/23/2017HouseAdded Chief Co-Sponsor Rep. Martin J. Moylan

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