SB1739Introduced in the Senate
INC TX-PASS THROUGH ENTITIES
Introduced by Robert Martwick, District 10
What does this bill do?
Plain-English breakdown
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Official description
Amends the Illinois Income Tax Act. Provides that, for the purpose of allocating gains and losses from sales or exchanges of shares in a Subchapter S corporation or from interests in certain partnerships, those gains and losses shall be allocated in proportion to the average of the pass-through entity's Illinois apportionment factor in the year of the sale or exchange and the 2 tax years immediately preceding the year of the sale or exchange. Provides that, if the pass-through entity was not in existence during both of the preceding 2 years, then only the years in which the pass-through entity was in existence shall be considered when computing the average.
Where it stands
Rule 3-9(a) / Re-referred to Assignments
June 2, 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 Secretary by Sen. Robert F. Martwick
First Reading
Referred to Assignments
Assigned to Revenue
Rule 2-10 Committee Deadline Established As April 11, 2025
Rule 2-10 Committee Deadline Established As May 9, 2025
Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
Rule 3-9(a) / Re-referred to Assignments
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