92nd General Assembly
Status of SB1536
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   35 ILCS 5/201             from Ch. 120, par. 2-201                          
   35 ILCS 5/202             from Ch. 120, par. 2-202                          
   35 ILCS 5/203             from Ch. 120, par. 2-203                          
   35 ILCS 5/205             from Ch. 120, par. 2-205                          
   35 ILCS 5/211                                                               
   35 ILCS 5/304             from Ch. 120, par. 3-304                          
   35 ILCS 5/305             from Ch. 120, par. 3-305                          
   35 ILCS 5/308             from Ch. 120, par. 3-308                          
   35 ILCS 5/502             from Ch. 120, par. 5-502                          
   35 ILCS 5/803             from Ch. 120, par. 8-803                          
   35 ILCS 5/1501            from Ch. 120, par. 15-1501                        

        Amends the Illinois Income Tax Act.  Provides  that  partnerships      
   or Subchapter S corporations may elect to pay the tax on behalf of the      
   partners  or shareholders and that the amount of that tax shall be the      
   average tax rate applicable to the partners  or  shareholders  of  the      
   taxpayer.   Provides  that  the  average  rate  shall  be  computed by      
   weighting  the rate applicable to each such partner or shareholder  by      
   a  fraction equal to that partner's or shareholder's share of the base      
   income of the taxpayer, divided by the sum of the shares of income  of      
   all  such  partners  or  shareholders.   Makes changes with respect to      
   additions to and subtractions from federal adjusted gross  income  and      
   allocation of income to accommodate this change.                            
   NOV-27-2001  S  FIRST READING                                                  
   NOV-27-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-20-2002  S       ASSIGNED TO COMMITTEE               REVENUE               
   FEB-28-2002  S                                 POSTPONED                       
   MAR-07-2002  S                                 POSTPONED                       
   MAR-07-2002  S                   COMMITTEE               REVENUE               
   MAR-08-2002  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary