Synopsis As Introduced Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning the short title.
Fiscal Note, House Floor Amendment No. 1 (Dept. of Revenue)
HB 390 (H-AM 1) will have a positive fiscal impact on State revenues of $445 million. The $445 million positive impact results from the following: (1) $320 million generated by taxing dividends: (2) $100 million generated by decoupling from the federal Domestic Activities Production deduction; (3) $25 million generated by repealing the non-combination rule.