Illinois General Assembly - Bill Status for SB2126
Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

 Bill Status of SB2126  102nd General Assembly


Short Description:  INC TX-COMBINED REPORTING

Senate Sponsors
Sen. Robert Peters, Mike Simmons, Ram Villivalam, Omar Aquino and Robert F. Martwick

Last Action
DateChamber Action
  2/26/2021SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/304from Ch. 120, par. 3-304
35 ILCS 5/304.1 new
35 ILCS 5/1501from Ch. 120, par. 15-1501


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that all the corporations, wherever incorporated or domiciled, that are members of a unitary business shall file a combined return as a combined group. Makes changes to the definition of "unitary business". Contains provisions concerning a water's edge election. Provides that, with respect to unitary business groups, "United States" means the 50 states of the United States, the District of Columbia, and United States' territories and possessions.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Robert Peters
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  4/21/2021SenateAdded as Co-Sponsor Sen. Mike Simmons
  5/7/2021SenateAdded as Co-Sponsor Sen. Ram Villivalam
  5/17/2021SenateAdded as Co-Sponsor Sen. Omar Aquino
  5/19/2021SenateAdded as Co-Sponsor Sen. Robert F. Martwick

Back To Top