INC TX-PASS THROUGH ENTITIES Senate SponsorsSen. Robert F. Martwick 6/2/2025SenateRule 3-9(a) / Re-referred to Assignments 35 ILCS 5/303from Ch. 120, par. 3-30335 ILCS 5/304from Ch. 120, par. 3-304Amends the Illinois Income Tax Act. Provides that, for the purpose of allocating gains and losses from sales or exchanges of shares in a Subchapter S corporation or from interests in certain partnerships, those gains and losses shall be allocated in proportion to the average of the pass-through entity's Illinois apportionment factor in the year of the sale or exchange and the 2 tax years immediately preceding the year of the sale or exchange. Provides that, if the pass-through entity was not in existence during both of the preceding 2 years, then only the years in which the pass-through entity was in existence shall be considered when computing the average. 2/5/2025SenateFiled with Secretary by Sen. Robert F. Martwick 2/5/2025SenateFirst Reading 2/5/2025SenateReferred to Assignments 2/18/2025SenateAssigned to Revenue 3/21/2025SenateRule 2-10 Committee Deadline Established As April 11, 2025 4/11/2025SenateRule 2-10 Committee Deadline Established As May 9, 2025 5/9/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 5/23/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 6/2/2025SenateRule 3-9(a) / Re-referred to Assignments