92nd General Assembly
Summary of HB1268
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House Sponsors:

Senate Sponsors:

Short description: 
INCOME TAXES-TECH                                                          

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Makes a technical change  in      
   a Section concerning income allocation.                                     
        SENATE AMENDMENT NO. 1.                                                
          Adds reference to:                                                   
          35 ILCS 5/405                                                        
        Amends the Illinois Income Tax Act.  Provides  that  if,  on  the      
   termination  of an estate or trust, the estate or trust has a net loss      
   carryforward, that carryforward shall be allowed to the  beneficiaries      
   succeeding  to  the property of the estate or trust in the same manner      
   as allowed for federal income tax purposes. Effective immediately.          
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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