Illinois General Assembly - Bill Status for SB1115
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 Bill Status of SB1115  101st General Assembly

Short Description:  INC TX-WATER'S EDGE

Senate Sponsors
Sen. Heather A. Steans - Toi W. Hutchinson - Robert Peters - Ram Villivalam - Melinda Bush, Mattie Hunter, David Koehler, Emil Jones, III, Don Harmon, John J. Cullerton, Elgie R. Sims, Jr., Jacqueline Y. Collins, Cristina Castro, Laura Fine, Christopher Belt and Patricia Van Pelt

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/203from Ch. 120, par. 2-203
35 ILCS 5/304from Ch. 120, par. 3-304
35 ILCS 5/1501from Ch. 120, par. 15-1501

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides for a water's edge apportionment election for certain members of a unitary business group. Provides that, with respect to foreign corporations that make a water's edge election, the deduction for dividends is limited to 75%.

DateChamber Action
  2/5/2019SenateFiled with Secretary by Sen. Heather A. Steans
  2/5/2019SenateFirst Reading
  2/5/2019SenateReferred to Assignments
  2/6/2019SenateAssigned to Revenue
  2/6/2019SenateAdded as Co-Sponsor Sen. Mattie Hunter
  2/7/2019SenateAdded as Chief Co-Sponsor Sen. Toi W. Hutchinson
  2/13/2019SenateAdded as Chief Co-Sponsor Sen. Robert Peters
  2/19/2019SenateAdded as Chief Co-Sponsor Sen. Ram Villivalam
  3/13/2019SenateAdded as Co-Sponsor Sen. David Koehler
  3/20/2019SenateAdded as Co-Sponsor Sen. Emil Jones, III
  3/20/2019SenatePostponed - Revenue
  3/21/2019SenateAdded as Co-Sponsor Sen. Don Harmon
  3/22/2019SenateAdded as Co-Sponsor Sen. John J. Cullerton
  3/22/2019SenateRule 3-9(a) / Re-referred to Assignments
  3/26/2019SenateAdded as Chief Co-Sponsor Sen. Melinda Bush
  3/26/2019SenateAdded as Co-Sponsor Sen. Elgie R. Sims, Jr.
  3/27/2019SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins
  4/9/2019SenateAdded as Co-Sponsor Sen. Cristina Castro
  4/24/2019SenateAdded as Co-Sponsor Sen. Laura Fine
  5/29/2019SenateAdded as Co-Sponsor Sen. Christopher Belt
  5/30/2019SenateAdded as Co-Sponsor Sen. Patricia Van Pelt
  1/13/2021SenateSession Sine Die

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