WATSON-DEMUZIO. (STEPHENS) 35 ILCS 5/308 from Ch. 120, par. 3-308 Amends the Illinois Income Tax Act concerning Subchapter S corporations. Makes a technical change. HOUSE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 5/308 Adds reference to: 35 ILCS 615/2a.1 from Ch. 120, par. 467.17a.1 Deletes everything. Amends the Gas Revenue Tax Act. Makes a technical change. HOUSE AMENDMENT NO. 2. Deletes everything. Amends the Gas Revenue Tax Act. Provides that for taxable periods beginning on or after January 1, 1998, the invested capital tax shall be the lesser of (i) the current tax calculation or (ii) an amount to equal to 0.8% times a certain calculation concerning the person's gross gas plant in service for the taxable period ending December 31, 1996 as modified by an adjustment factor. Defines "adjustment factor". 99-02-25 S FIRST READING 99-02-25 S REFERRED TO SENATE RULES COMMITTEE RULES 99-03-03 S ASSIGNED TO COMMITTEE REVENUE 99-03-18 S DO PASS 010-000-000 SREV 99-03-18 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-19 99-03-22 S SECOND READING 99-03-22 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-23 99-03-23 S ADDED AS A CHIEF CO-SPONSOR DEMUZIO 99-03-23 S THIRD READING - PASSED 059-000-000 99-03-23 H ARRIVE IN HOUSE 99-03-23 H PLACED CALENDAR ORDER OF FIRST READING 99-03-24 H HOUSE SPONSOR STEPHENS 99-03-24 H FIRST READING 99-03-24 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-03-26 H ASSIGNED TO COMMITTEE EXECUTIVE 99-04-28 H AMENDMENT NO. 01-EXECUTIVE H 99-04-28 H ADOPTED 99-04-28 H DO PASS AMENDED/SHORT DEBATE 014-000-000 HEXC 99-04-28 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-05-04 H AMENDMENT NO. 02-STEPHENS 99-05-04 H AMENDMENT REFERRED TO HRUL 99-05-04 H CALENDAR ORDER 2ND READING-SHORT DEBATE 99-05-07 H AMENDMENT NO. 02-STEPHENS 99-05-07 H RULES REFERS TO HEUD 99-05-07 H CALENDAR ORDER 2ND READING-SHORT DEBATE 99-05-11 H AMENDMENT NO. 02-STEPHENS 99-05-11 H RECOMMENDS BE ADOPTED HEUD/008-000-000 99-05-11 H CALENDAR ORDER 2ND READING-SHORT DEBATE 99-05-12 H SECOND READING-SHORT DEBATE 99-05-12 H AMENDMENT NO. 02-STEPHENS 99-05-12 H ADOPTED 99-05-12 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-13 H THIRD READING/SHORT DEBATE/PASSED 113-001-000 99-05-13 S SECRETARYS DESK - CONCURRENCE 01,02 99-05-17 S FILED WITH SECRETARY 99-05-17 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/WATSON 99-05-17 S MOTION REFERRED TO SRUL 99-05-18 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/WATSON 99-05-18 S RULES REFERS TO SREV 99-05-19 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/WATSON 99-05-19 S BE APPROVED FOR CONSIDERATION SREV/006-000-000 99-05-19 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/WATSON 99-05-19 S SEN CONCURS IN HSE AMENDMENTS (NO.) 01,02/058-000-000 99-05-19 S PASSED BOTH HOUSES 99-06-17 S SENT TO THE GOVERNOR 99-08-14 S GOVERNOR APPROVED 99-08-14 S EFFECTIVE DATE 00-01-01 99-08-14 S PUBLIC ACT.............................. 91-0596 END OF INQUIRY Full Text Bill Summary