INC TX-DEFINITIONS Senate SponsorsSen. Don Harmon House Sponsors(Rep. John E. Bradley) 1/13/2009SenateSession Sine Die 35 ILCS 5/1501from Ch. 120, par. 15-1501Amends the Illinois Income Tax Act concerning the definition of "captive real estate investment trusts". Provides that, to be a captive real estate investment trust, at least 50% of the voting power must be controlled by a single association that is taxable as a corporation (now, controlled by a single person). Exempts from the definition certain real estate investment trusts that are owned and controlled by certain entities that are organized outside of the laws of the United States. Effective immediately.Senate Floor Amendment No. 1 Provides that, to be a captive real estate investment trust, at least 50% of the voting power must be controlled by a single corporation (instead of "an entity that is treated as an association that is taxable as a corporation under the Internal Revenue Code").House Amendment No. 1 Provides that there is no rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion. 2/15/2008SenateFiled with Secretary by Sen. Don Harmon 2/15/2008SenateFirst Reading 2/15/2008SenateReferred to Rules 2/28/2008SenateAssigned to Revenue 3/6/2008SenateDo Pass Revenue; 007-000-000 3/6/2008SenatePlaced on Calendar Order of 2nd Reading March 11, 2008 3/13/2008SenateSecond Reading 3/13/2008SenatePlaced on Calendar Order of 3rd Reading April 1, 2008 4/9/2008SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon 4/9/2008SenateSenate Floor Amendment No. 1 Referred to Rules 4/15/2008SenateSenate Floor Amendment No. 1 Rules Refers to Revenue 4/16/2008SenateSenate Floor Amendment No. 1 Recommend Do Adopt Revenue; 006-000-000 4/16/2008SenateRecalled to Second Reading 4/16/2008SenateSenate Floor Amendment No. 1 Adopted; Harmon 4/16/2008SenatePlaced on Calendar Order of 3rd Reading 4/16/2008SenateThird Reading - Passed; 056-000-000 4/17/2008HouseArrived in House 4/17/2008HousePlaced on Calendar Order of First Reading 4/17/2008HouseChief House Sponsor Rep. John E. Bradley 4/24/2008HouseFirst Reading 4/24/2008HouseReferred to Rules Committee 5/1/2008HouseAssigned to Revenue Committee 5/9/2008HouseCommittee Deadline Extended-Rule 9(b) May 23, 2008 5/15/2008HouseHouse Amendment No. 1 Filed with Clerk by Revenue Committee 5/15/2008HouseHouse Amendment No. 1 Adopted in Revenue Committee; by Voice Vote 5/15/2008HouseDo Pass as Amended / Short Debate Revenue Committee; 007-000-000 5/15/2008HousePlaced on Calendar 2nd Reading - Short Debate 5/19/2008HouseSecond Reading - Short Debate 5/19/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/22/2008HouseThird Reading - Short Debate - Passed 107-000-001 5/23/2008SenateSecretary's Desk - Concurrence House Amendment(s) 01 5/23/2008SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01-May 27, 2008 5/27/2008SenateHouse Amendment No. 1 Motion to Non-Concur Filed with Secretary Sen. Don Harmon 5/28/2008SenateSenate Non-Concurs 01 5/29/2008HousePlaced on Calendar Order of Non-Concurrence House Amendment(s) 1 7/1/2008HouseRule 19(b) / Re-referred to Rules Committee 1/13/2009SenateSession Sine Die