92nd General Assembly
Status of HB4908
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 Full Text  Bill Summary

   35 ILCS 5/207             from Ch. 120, par. 2-207                          

        Amends the Illinois Income Tax Act. Provides  that,  for  taxable      
   years  ending  on or after December 31, 2003 and on or before December      
   30, 2008, net losses shall not be allowed as a carryback and shall  be      
   a net operating carryover to each of the 5 taxable years following the      
   taxable year of such loss (now, and beginning again at the end of this      
   period,  may  carry net losses back for 2 years and carry them forward      
   for 20 years). Effective immediately.                                       
   FEB-05-2002  H  FILED WITH CLERK                                               
   FEB-05-2002  H  FIRST READING                                                  
   FEB-05-2002  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-06-2002  H       ASSIGNED TO COMMITTEE               REVENUE               
   FEB-22-2002  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary