INC TAX-BASE INCOME-TECH Senate SponsorsSen. Antonio Munoz-Chris Lauzen House Sponsors(Rep. Marlow H. Colvin) 1/11/2005SenateSession Sine Die 35 ILCS 5/203from Ch. 120, par. 2-203Amends the Illinois Income Tax Act. Makes a technical change in provisions concerning the legislative intent behind the definition of base income.Senate Floor Amendment No. 2 Amends the Illinois Income Tax Act. In the case of a holder of a residual interest in a real estate mortgage conduit with excess inclusion pursuant to certain provisions of the Internal Revenue Code, that also has a net operating loss pursuant to certain provisions of the Internal Revenue Code, includes in taxable income properly reportable for federal income tax purposes the amount computed under certain provisions of the Internal Revenue Code as federal taxable income or loss without regard to the excess inclusion. Provides that the excess inclusion shall, in all events, be subject to tax. Provides that the amendatory provisions of the bill shall be construed as declaratory of existing law and not as a new enactment. Effective immediately. 2/6/2004SenateFiled with Secretary by Sen. Antonio Munoz 2/6/2004SenateFirst Reading 2/6/2004SenateReferred to Rules 2/18/2004SenateAssigned to Revenue 2/24/2004SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Antonio Munoz 2/24/2004SenateSenate Committee Amendment No. 1 Referred to Rules 2/26/2004SenateDo Pass Revenue; 006-003-000 2/26/2004SenatePlaced on Calendar Order of 2nd Reading March 2, 2004 3/22/2004SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Antonio Munoz 3/22/2004SenateSenate Floor Amendment No. 2 Referred to Rules 3/23/2004SenateSenate Floor Amendment No. 2 Rules Refers to Revenue 3/24/2004SenateSenate Floor Amendment No. 2 Be Adopted Revenue; 010-000-000 3/24/2004SenateSecond Reading 3/24/2004SenateSenate Floor Amendment No. 2 Adopted; Munoz 3/24/2004SenatePlaced on Calendar Order of 3rd Reading March 25, 2004 3/25/2004SenateAdded as Chief Co-Sponsor Sen. Chris Lauzen 3/25/2004SenateThird Reading - Passed; 052-003-001 3/25/2004SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a) 3/26/2004HouseArrived in House 3/26/2004HousePlaced on Calendar Order of First Reading 3/26/2004HouseChief House Sponsor Rep. Marlow H. Colvin 3/26/2004HouseFirst Reading 3/26/2004HouseReferred to Rules Committee 1/11/2005SenateSession Sine Die