Illinois 93rd Regular Session Status: Passed Senate

SB 79 — INCOME TAX-NET LOSSES

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 93rd Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

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.

Bill Text

Action History

  1. Session Sine Die

  2. Pursuant to Senate Rule 3-9(b) / Referred to Rules

  3. Third Reading Deadline Extended - Rule 2-10(e) to December 31, 2003.

  4. Third Reading Deadline Extended - Rule 2-10(e) to April 9, 2003.

  5. Added as Chief Co-Sponsor Sen. Carol Ronen

  6. Placed on Calendar Order of 2nd Reading April 4, 2003

  7. Approved for Consideration Rules

  8. Re-referred to Rules

  9. Assigned to Executive

  10. Referred to Rules

  11. First Reading

  12. Filed with Secretary by Sen. Patrick Welch

Sponsors

  • Patrick Welch · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Patrick Welch

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 79 do?
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.
Who sponsors SB 79?
SB 79 is sponsored by Patrick Welch.
What is the current status of SB 79?
This bill died with 93rd Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 79?
Track SB 79 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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