Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/203

from Ch. 120, par. 2-203

Synopsis As Introduced
Amends the Illinois Income Tax Act. Makes a technical change in provisions concerning the legislative intent behind the definition of base income.

Senate Floor Amendment No. 2
Amends the Illinois Income Tax Act. In the case of a holder of a residual interest in a real estate mortgage conduit with excess inclusion pursuant to certain provisions of the Internal Revenue Code, that also has a net operating loss pursuant to certain provisions of the Internal Revenue Code, includes in taxable income properly reportable for federal income tax purposes the amount computed under certain provisions of the Internal Revenue Code as federal taxable income or loss without regard to the excess inclusion. Provides that the excess inclusion shall, in all events, be subject to tax. Provides that the amendatory provisions of the bill shall be construed as declaratory of existing law and not as a new enactment. Effective immediately.

Actions 

Date	Chamber	Action
2/6/2004	Senate	Filed with Secretary by Sen. Antonio Munoz
2/6/2004	Senate	First Reading
2/6/2004	Senate	Referred to Rules
2/18/2004	Senate	Assigned to Revenue
2/24/2004	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Antonio Munoz
2/24/2004	Senate	Senate Committee Amendment No. 1 Referred to Rules
2/26/2004	Senate	Do Pass Revenue; 006-003-000
2/26/2004	Senate	Placed on Calendar Order of 2nd Reading March 2, 2004
3/22/2004	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Antonio Munoz
3/22/2004	Senate	Senate Floor Amendment No. 2 Referred to Rules
3/23/2004	Senate	Senate Floor Amendment No. 2 Rules Refers to Revenue
3/24/2004	Senate	Senate Floor Amendment No. 2 Be Adopted Revenue; 010-000-000
3/24/2004	Senate	Second Reading
3/24/2004	Senate	Senate Floor Amendment No. 2 Adopted; Munoz
3/24/2004	Senate	Placed on Calendar Order of 3rd Reading March 25, 2004
3/25/2004	Senate	Added as Chief Co-Sponsor Sen. Chris Lauzen
3/25/2004	Senate	Third Reading - Passed; 052-003-001
3/25/2004	Senate	Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
3/26/2004	House	Arrived in House
3/26/2004	House	Placed on Calendar Order of First Reading
3/26/2004	House	Chief House Sponsor Rep. Marlow H. Colvin
3/26/2004	House	First Reading
3/26/2004	House	Referred to Rules Committee
1/11/2005	Senate	Session Sine Die

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