Illinois House Bill 3117: INC TX-EMINENT DOMAIN

Illinois · 104th session

What it does

Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the capital gains realized by the taxpayer from the taking of property by eminent domain to the extent that those gains are included in the taxpayer's federal taxable income. Effective immediately.

Latest action

Rule 19(a) / Re-referred to Rules Committee (2025-03-21)

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