Bill Status of SB3486

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SB3486 - 104th General Assembly

INC TAX-COMBINED REPORTING
Last Action
2/05/2026 - Senate: Referred to Assignments
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 5/1009 new
35 ILCS 5/1501from Ch. 120, par. 15-1501
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that provisions of the Act that provide that a taxpayer's unitary business group does not include members whose business activity outside the United States is 80% or more of the member's total business activity apply only for taxable years ending before January 1, 2026. Makes corresponding changes to deductions and addition modifications concerning those members of the unitary business group. Provides that, with respect to the term "foreign person", "United States" means the 50 states of the United States, the District of Columbia, the territories and possessions of the United States, and any area over which the United States has asserted jurisdiction or claimed exclusive rights with respect to the exploration for or exploitation of natural resources. Adds provisions concerning joint and several liability of members of a combined reporting group. Effective immediately.
Actions
Date Chamber Action
2/05/2026 Senate Filed with Secretary by Sen. Robert F. Martwick
2/05/2026 Senate First Reading
2/05/2026 Senate Referred to Assignments
2/09/2026 Senate Added as Co-Sponsor Sen. Rachel Ventura
2/25/2026 Senate Added as Co-Sponsor Sen. Karina Villa
2/26/2026 Senate Added as Co-Sponsor Sen. Adriane Johnson
2/27/2026 Senate Added as Co-Sponsor Sen. Mark L. Walker
2/27/2026 Senate Added as Co-Sponsor Sen. Graciela Guzmán
2/27/2026 Senate Sponsor Removed Sen. Graciela Guzmán
2/27/2026 Senate Added as Chief Co-Sponsor Sen. Graciela Guzmán
3/04/2026 Senate Added as Co-Sponsor Sen. Javier L. Cervantes
3/10/2026 Senate Added as Co-Sponsor Sen. Mattie Hunter
3/11/2026 Senate Added as Co-Sponsor Sen. Lakesia Collins