MCKEON. 35 ILCS 5/207 from Ch. 120, par. 2-207 Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2003 and on or before December 30, 2008, net losses shall not be allowed as a carryback and shall be a net operating carryover to each of the 5 taxable years following the taxable year of such loss (now, and beginning again at the end of this period, may carry net losses back for 2 years and carry them forward for 20 years). Effective immediately. FEB-05-2002 H FILED WITH CLERK FEB-05-2002 H FIRST READING FEB-05-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-06-2002 H ASSIGNED TO COMMITTEE REVENUE FEB-22-2002 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary