Bill Status of HB3776

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HB3776 - 104th General Assembly

INC TX-NOL LIMITATION
Last Action
2/18/2025 - House: Referred to Rules Committee
House Sponsors
Rep. Travis Weaver
Statutes Amended In Order of Appearance
35 ILCS 5/207from Ch. 120, par. 2-207
Synopsis As Introduced
Amends the Illinois Income Tax Act. Removes a provision providing that no carryover deduction shall exceed $500,000 for any taxable year ending on or after December 31, 2024 and prior to December 31, 2027. Provides that the limitation is inapplicable for all tax years ending on or after December 31, 2024. Effective immediately.
Actions
Date Chamber Action
2/07/2025 House Filed with the Clerk by Rep. Travis Weaver
2/18/2025 House First Reading
2/18/2025 House Referred to Rules Committee