INC TX-NOL LIMITATION House SponsorsRep. Travis Weaver 2/18/2025HouseReferred to Rules Committee 35 ILCS 5/207from Ch. 120, par. 2-207 Amends the Illinois Income Tax Act. Removes a provision providing that no carryover deduction shall exceed $500,000 for any taxable year ending on or after December 31, 2024 and prior to December 31, 2027. Provides that the limitation is inapplicable for all tax years ending on or after December 31, 2024. Effective immediately. 2/7/2025HouseFiled with the Clerk by Rep. Travis Weaver 2/18/2025HouseFirst Reading 2/18/2025HouseReferred to Rules Committee