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92_SB1883 LRB9214771SMdv 1 AN ACT in relation to taxes. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Income Tax Act is amended by 5 changing Section 404 as follows: 6 (35 ILCS 5/404) (from Ch. 120, par. 4-404) 7 Sec. 404. Reallocation of items. If it appears to the 8 Director that any agreement, understanding or arrangement 9 exists between any persons thatwhichcauses any person's 10 base income allocable to this State to be improperly or 11 inaccurately reflected, the Director may adjust such items of 12 income and deduction, and any factor taken into account in 13 allocating income to this State, to such extent as may 14 reasonably be required to determine the base income of such 15 person properly allocable to this State. 16 (Source: P.A. 76-261.)