Illinois General Assembly - Bill Status for SB2531
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 Bill Status of SB2531  102nd General Assembly

Short Description:  INC TX-APPORTIONMENT

Senate Sponsors
Sen. Win Stoller - John Connor - Robert F. Martwick, Donald P. DeWitte, Jil Tracy, John F. Curran, David Koehler, Sally J. Turner, Dale Fowler, Dave Syverson, Sue Rezin, Darren Bailey, Neil Anderson, Terri Bryant, Jason A. Barickman, Mike Simmons, Karina Villa, Rachelle Crowe, Steve McClure and Laura M. Murphy

House Sponsors
(Rep. Anthony DeLuca - Mike Murphy - Margaret Croke - Jonathan Carroll, Amy Elik, Dave Vella, Carol Ammons, Terra Costa Howard, Ann M. Williams, Amy Grant and Chris Bos)

Last Action
DateChamber Action
  8/27/2021SenatePublic Act . . . . . . . . . 102-0658

Statutes Amended In Order of Appearance
35 ILCS 5/201
35 ILCS 5/203from Ch. 120, par. 2-203
35 ILCS 5/601from Ch. 120, par. 6-601
35 ILCS 5/709.5
35 ILCS 5/1501from Ch. 120, par. 15-1501


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a partnership or Subchapter S corporation may elect to pay a tax computed by multiplying the share of business income apportionable to Illinois and nonbusiness income allocated to Illinois that is distributable to each partner or shareholder and multiplied by the applicable rates of tax for that partner or shareholder. Creates a deduction in an amount equal to those amounts. Effective immediately.

Senate Committee Amendment No. 1
Adds reference to:
35 ILCS 5/502from Ch. 120, par. 5-502

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Provides that the tax imposed under the introduced bill applies for taxable years beginning on or after January 1, 2021. Provides that certain nonresident individuals with no Illinois income tax liability after taking into account the deductions in the amendatory Act are not required to file returns. Makes various technical corrections concerning pass-through entities. Effective immediately.

Senate Floor Amendment No. 2
Deletes reference to:
35 ILCS 5/203from Ch. 120, par. 2-203
35 ILCS 5/502from Ch. 120, par. 5-502
35 ILCS 5/601from Ch. 120, par. 6-601
35 ILCS 5/709.5
35 ILCS 5/1501from Ch. 120, par. 15-1501

Replaces everything after the enacting clause. Reinserts provisions of the introduced bill creating an entity-level tax, but makes certain formatting changes. Provides that the entity-level tax applies for taxable years ending on or after December 31, 2021 and beginning prior to January 1, 2026. Provides that the entity-level tax shall be in an amount equal to 4.95% of the taxpayer's net income for the taxable year. Defines "net income". Provides that a partnership or Subchapter S corporation that elects to pay tax at the entity level is required to pay estimated tax if the amount payable as estimated tax can reasonably be expected to exceed $500. Effective immediately.

House Committee Amendment No. 1
Adds reference to:
35 ILCS 5/203from Ch. 120, par. 2-203
35 ILCS 5/901

Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with changes. Provides that provisions concerning pass-through entities apply only with respect to taxable years for which a specified limitation on individual deductions applies under the Internal Revenue Code. Adds a corresponding addition modification. Makes a conforming change with respect to the Local Government Distributive Fund. Effective immediately.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Win Stoller
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/16/2021SenateAdded as Chief Co-Sponsor Sen. John Connor
  3/17/2021SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
  3/23/2021SenateAdded as Chief Co-Sponsor Sen. Robert F. Martwick
  3/23/2021SenateAssigned to Revenue
  3/23/2021SenateAdded as Co-Sponsor Sen. Jil Tracy
  3/24/2021SenateAdded as Co-Sponsor Sen. John F. Curran
  3/26/2021SenateAdded as Co-Sponsor Sen. David Koehler
  4/5/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Win Stoller
  4/5/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/7/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
  4/14/2021SenateSenate Committee Amendment No. 1 Adopted
  4/15/2021SenateDo Pass Revenue; 009-000-000
  4/15/2021SenatePlaced on Calendar Order of 2nd Reading April 20, 2021
  4/15/2021SenateAdded as Co-Sponsor Sen. Sally J. Turner
  4/16/2021SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Win Stoller
  4/16/2021SenateSenate Floor Amendment No. 2 Referred to Assignments
  4/19/2021SenateAdded as Co-Sponsor Sen. Dale Fowler
  4/20/2021SenateSenate Floor Amendment No. 2 Assignments Refers to Revenue
  4/20/2021SenateAdded as Co-Sponsor Sen. Dave Syverson
  4/20/2021SenateAdded as Co-Sponsor Sen. Sue Rezin
  4/20/2021SenateAdded as Co-Sponsor Sen. Darren Bailey
  4/20/2021SenateAdded as Co-Sponsor Sen. Neil Anderson
  4/20/2021SenateAdded as Co-Sponsor Sen. Terri Bryant
  4/20/2021SenateAdded as Co-Sponsor Sen. Jason A. Barickman
  4/20/2021SenateSecond Reading
  4/20/2021SenatePlaced on Calendar Order of 3rd Reading April 21, 2021
  4/21/2021SenateAdded as Co-Sponsor Sen. Mike Simmons
  4/21/2021SenateSenate Floor Amendment No. 2 Recommend Do Adopt Revenue; 010-000-000
  4/21/2021SenateAdded as Co-Sponsor Sen. Karina Villa
  4/21/2021SenateRecalled to Second Reading
  4/21/2021SenateSenate Floor Amendment No. 2 Adopted; Stoller
  4/21/2021SenateThird Reading - Passed; 056-000-000
  4/26/2021SenateAdded as Co-Sponsor Sen. Rachelle Crowe
  4/28/2021HouseArrived in House
  4/28/2021HouseChief House Sponsor Rep. Anthony DeLuca
  4/28/2021HouseFirst Reading
  4/28/2021HouseReferred to Rules Committee
  4/28/2021HouseAssigned to Revenue & Finance Committee
  5/4/2021HouseAdded Alternate Chief Co-Sponsor Rep. Mike Murphy
  5/5/2021HouseAdded Alternate Co-Sponsor Rep. Amy Elik
  5/5/2021HouseAdded Alternate Chief Co-Sponsor Rep. Margaret Croke
  5/5/2021HouseAdded Alternate Chief Co-Sponsor Rep. Jonathan Carroll
  5/6/2021HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Anthony DeLuca
  5/6/2021HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  5/11/2021HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  5/13/2021HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
  5/13/2021HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 015-001-000
  5/13/2021HousePlaced on Calendar 2nd Reading - Short Debate
  5/19/2021HouseSecond Reading - Short Debate
  5/19/2021HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/20/2021HouseThird Reading - Short Debate - Passed 116-000-000
  5/20/2021HouseAdded Alternate Co-Sponsor Rep. Dave Vella
  5/20/2021HouseAdded Alternate Co-Sponsor Rep. Carol Ammons
  5/20/2021HouseAdded Alternate Co-Sponsor Rep. Terra Costa Howard
  5/20/2021HouseAdded Alternate Co-Sponsor Rep. Ann M. Williams
  5/20/2021HouseAdded Alternate Co-Sponsor Rep. Amy Grant
  5/20/2021HouseAdded Alternate Co-Sponsor Rep. Chris Bos
  5/21/2021SenateSecretary's Desk - Concurrence House Amendment(s) 1
  5/21/2021SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 24, 2021
  5/21/2021SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Win Stoller
  5/21/2021SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  5/25/2021SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Revenue
  5/27/2021SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Revenue; 010-000-000
  5/30/2021SenateAdded as Co-Sponsor Sen. Steve McClure
  5/30/2021SenateHouse Committee Amendment No. 1 Senate Concurs 059-000-000
  5/30/2021SenateSenate Concurs
  5/30/2021SenatePassed Both Houses
  5/30/2021SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  6/28/2021SenateSent to the Governor
  8/27/2021SenateGovernor Approved
  8/27/2021SenateEffective Date August 27, 2021
  8/27/2021SenatePublic Act . . . . . . . . . 102-0658

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