INC TAX-INVESTMENT PARTNERSHIP House SponsorsRep. Kelly M. Burke, Daniel Didech, Margaret Croke, Curtis J. Tarver, II, Joe C. Sosnowski, Elizabeth "Lisa" Hernandez and Steven Reick 1/7/2025HouseSession Sine Die 35 ILCS 5/1501from Ch. 120, par. 15-1501 Amends the Illinois Income Tax Act. Makes changes to the definition of "investment partnership" to provide that a dealer in qualifying investment securities may be considered an investment partnership. Allows a partnership interest to be considered a qualified security if the interest qualifies as a security within the meaning of the federal Securities Act of 1933. In provisions requiring that no less than 90% of the investment partnership's gross income shall consist of interest, dividends, and gains from the sale or exchange of qualifying investment securities, provides that that includes the distributive share of partnership income from lower-tier partnership interests and does not include income from partnerships that are operating at a federal taxable loss. Effective immediately. 2/8/2023HouseFiled with the Clerk by Rep. Kelly M. Burke 2/8/2023HouseFirst Reading 2/8/2023HouseReferred to Rules Committee 2/21/2023HouseAdded Co-Sponsor Rep. Daniel Didech 2/21/2023HouseAssigned to Revenue & Finance Committee 2/21/2023HouseAdded Co-Sponsor Rep. Margaret Croke 2/21/2023HouseAdded Co-Sponsor Rep. Curtis J. Tarver, II 2/22/2023HouseAdded Co-Sponsor Rep. Joe C. Sosnowski 2/23/2023HouseTo Revenue - Property Tax Subcommittee 2/24/2023HouseAdded Co-Sponsor Rep. Elizabeth "Lisa" Hernandez 3/2/2023HouseTo Revenue-Income Tax Subcommittee 3/6/2023HouseAdded Co-Sponsor Rep. Steven Reick 3/10/2023HouseRule 19(a) / Re-referred to Rules Committee 1/7/2025HouseSession Sine Die