HB3776Introduced in the House
INC TX-NOL LIMITATION
Introduced by Travis Weaver, District 93
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Amends the Illinois Income Tax Act. Removes a provision providing that no carryover deduction shall exceed $500,000 for any taxable year ending on or after December 31, 2024 and prior to December 31, 2027. Provides that the limitation is inapplicable for all tax years ending on or after December 31, 2024. Effective immediately.
Where it stands
Referred to Rules Committee
February 18, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed with the Clerk by Rep. Travis Weaver
First Reading
Referred to Rules Committee
Verify the information
Our commitment to neutrality
We provide factual information only. We never tell you which politicians or bills to support, and we do not rank, score, or endorse anyone.