summary
Introduced
01/28/2026
01/28/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Repeals provisions concerning the enhanced bonus depreciation deduction. Effective immediately.
AI Summary
This bill amends the Illinois Income Tax Act to repeal provisions related to enhanced bonus depreciation deductions, which are tax deductions that allow businesses to deduct a larger portion of the cost of certain assets in the year they are placed in service. By removing these provisions, the bill aims to align Illinois tax law with federal law regarding bonus depreciation, which has undergone changes.
Sponsors (2)
Last Action
Added Chief Co-Sponsor Rep. Jeff Keicher (on 02/06/2026)
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