Illinois General Assembly - Bill Status for HB4718

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Bill Status of HB4718 95th General Assembly

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Short Description: INC TX-RE INVESTMENT TRUSTS

House Sponsors
Rep. Mark H. Beaubien, Jr.

Last Action

Date	Chamber	Action
1/13/2009	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/1501

from Ch. 120, par. 15-1501

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for any financial organization and its subsidiaries and affiliates that directly or indirectly own more than 50% of a captive real estate investment trust in a manner that is substantially similar to the ownership structure described in a certain ruling by the Department of Revenue, the income taxation of that organization is on the same basis with respect to the captive real estate investment trust as described in that ruling. Effective immediately.

Actions

Date	Chamber	Action
1/30/2008	House	Filed with the Clerk by Rep. Mark H. Beaubien, Jr.
2/1/2008	House	First Reading
2/1/2008	House	Referred to Rules Committee
1/13/2009	House	Session Sine Die

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