Bill Status of HB3478  102nd General Assembly


Short Description:  INC TX-GILTI APPORTIONMENT

House Sponsors
Rep. Delia C. Ramirez, Kelly M. Cassidy, Will Guzzardi and Anna Moeller

Last Action
DateChamber Action
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

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


Synopsis As Introduced
Amends the Illinois Income Tax Act. Contains provisions concerning a deduction for income included in the taxpayer's federal adjusted gross income and deemed received under Section 951A (GILTI) or Section 952 (Subpart F) of the Internal Revenue Code.

 Fiscal Note (Dept. of Revenue)
 The bill refers to a corporate taxpayer's calculation of federal adjusted gross income. However, corporate taxpayers do not have a federal adjusted gross income. They have federal taxable income. Additionally, the bill proposes to disallow a subtraction at the State level that would have been made in tax years 2018 and 2019 for amounts included federally pursuant to Section 965 of the Internal Revenue Code. This is likely to raise issues as to the constitutionality of the proposal. For these reasons, an estimate cannot be determined.

Actions 
DateChamber Action
  2/19/2021HouseFiled with the Clerk by Rep. Delia C. Ramirez
  2/22/2021HouseFirst Reading
  2/22/2021HouseReferred to Rules Committee
  3/16/2021HouseAssigned to Revenue & Finance Committee
  3/22/2021HouseFiscal Note Filed
  3/25/2021HouseAdded Co-Sponsor Rep. Kelly M. Cassidy
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  5/7/2021HouseAdded Co-Sponsor Rep. Will Guzzardi
  5/14/2021HouseAdded Co-Sponsor Rep. Anna Moeller