Senate Sponsors: PETERSON. House Sponsors: MAUTINO Short description: INC TX-ATTORNEY-IN-FACT-INSURE Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that an attorney-in-fact for a reciprocal insurer or interinsurance exchange that has made an election under Internal Revenue Code Section 835 shall be deemed not to be doing business in the State with respect to activities as an attorney-in-fact. Provides that any income earned by the attorney-in-fact on non-attorney-in-fact business that would otherwise be subject to taxation in the State shall be included in the income of the reciprocal insurer or interinsurance exchange. Provides that an attorney-in-fact for a reciprocal insurance exchange is included in the unitary business group that includes the exchange. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 5/201 35 ILCS 5/1501 Adds reference to: 35 ILCS 5/203 from Ch. 120, par. 2-203 Deletes everything. Amends the Illinois Income Tax Act. Grants a deduction in the amount equal to the excess, if any, of the amounts paid or incurred by an interinsurer or reciprocal insurer to an attorney-in-fact over the deduction allowed under Section 835(b) of the federal Internal Revenue Code. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 91-0205 Last action date: 99-07-20 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status