INC TX-COOPERATIVE-OFFSET LOSS Senate SponsorsSen. John M. Sullivan, Dale A. Righter and Martin A. Sandoval House Sponsors(Rep. Frank J. Mautino-Roger L. Eddy-Dan Brady, Chapin Rose, William B. Black and Donald L. Moffitt) 6/21/2010SenatePublic Act . . . . . . . . . 96-0932 35 ILCS 200/14-30Amends the Property Tax Code. Provides that the chief county assessment officer may charge not more than $0.20 per parcel for copies of records furnished in electronic format. Effective immediately.Senate Committee Amendment No. 1 Deletes reference to:35 ILCS 200/14-30Adds reference to:35 ILCS 5/203from Ch. 120, par. 2-203Replaces everything after the enacting clause. Amends the Illinois Income Tax Act. Provides that taxable income for cooperatives shall be computed without regard to the prohibition in the Internal Revenue Code against offsetting losses from patronage activities against income from nonpatronage activities. Provides that a cooperative may make an irrevocable election not to offset losses from patronage activities against income from nonpatronage activities or not to offset losses from nonpatronage activities against income from patronage activities. Provides that, if such election is made, those patronage or nonpatronage losses shall be carried over.House Committee Amendment No. 1 Provides that a cooperative may elect to follow its federal income tax treatment of patronage losses and nonpatronage losses (in the introduced bill, the cooperative may make an election not to offset losses from patronage activities against income from nonpatronage activities or not to offset losses from nonpatronage activities against income from patronage activities). Provides that the election shall be effective for all taxable years with original returns due on or after the date of the election. Provides that the cooperative may file an amended return to give effect to the election in prior taxable years. Provides that the Department's rules must include the standards to be used by the Director in evaluating requests to revoke elections.House Floor Amendment No. 2 Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with changes. Provides that a cooperative may elect to follow its federal income tax treatment of patronage losses and nonpatronage losses (in the engrossed bill, the cooperative may make an election not to offset losses from patronage activities against income from nonpatronage activities or not to offset losses from nonpatronage activities against income from patronage activities). Provides that the election shall be effective for all taxable years with original returns due on or after the date of the election. Provides that the cooperative may file an amended return to give effect to the election in prior taxable years. Provides that the Department's rules must include the standards to be used by the Director in evaluating requests to revoke elections. 2/20/2009SenateFiled with Secretary by Sen. John M. Sullivan 2/20/2009SenateFirst Reading 2/20/2009SenateReferred to Assignments 3/4/2009SenateAssigned to Revenue 3/12/2009SenatePostponed - Revenue 3/13/2009SenateRule 2-10 Committee Deadline Established As April 3, 2009 3/25/2009SenatePostponed - Revenue 4/3/2009SenateRule 3-9(a) / Re-referred to Assignments 2/24/2010SenateRe-assigned to Revenue 2/24/2010SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. John M. Sullivan 2/24/2010SenateSenate Committee Amendment No. 1 Referred to Assignments 3/2/2010SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue 3/4/2010SenateSenate Committee Amendment No. 1 Adopted 3/8/2010SenateDo Pass as Amended Revenue; 008-000-000 3/8/2010SenatePlaced on Calendar Order of 2nd Reading March 9, 2010 3/11/2010SenateSecond Reading 3/11/2010SenatePlaced on Calendar Order of 3rd Reading March 12, 2010 3/12/2010SenateAdded as Co-Sponsor Sen. Dale A. Righter 3/12/2010SenateAdded as Co-Sponsor Sen. Martin A. Sandoval 3/12/2010SenateThird Reading - Passed; 050-000-000 3/12/2010HouseArrived in House 3/17/2010HouseChief House Sponsor Rep. Frank J. Mautino 3/17/2010HousePlaced on Calendar Order of First Reading 3/17/2010HouseFirst Reading 3/17/2010HouseReferred to Rules Committee 3/22/2010HouseAssigned to Revenue & Finance Committee 3/22/2010HouseAdded Alternate Chief Co-Sponsor Rep. Roger L. Eddy 3/25/2010HouseAdded Alternate Chief Co-Sponsor Rep. Dan Brady 4/13/2010HouseAdded Alternate Co-Sponsor Rep. Chapin Rose 4/15/2010HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-000-000 4/15/2010HouseRemains in Revenue & Finance Committee 4/20/2010HouseAdded Alternate Co-Sponsor Rep. William B. Black 4/22/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee 4/22/2010HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote 4/22/2010HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 009-000-000 4/22/2010HousePlaced on Calendar 2nd Reading - Short Debate 4/23/2010HouseSecond Reading - Short Debate 4/23/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/23/2010HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Frank J. Mautino 4/23/2010HouseHouse Floor Amendment No. 2 Referred to Rules Committee 4/26/2010HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 003-000-000 4/28/2010HouseRecalled to Second Reading - Short Debate 4/28/2010HouseHouse Floor Amendment No. 2 Adopted by Voice Vote 4/28/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/29/2010HouseThird Reading - Short Debate - Passed 116-000-000 4/29/2010HouseAdded Alternate Co-Sponsor Rep. Donald L. Moffitt 4/30/2010SenateSecretary's Desk - Concurrence House Amendment(s) 1, 2 4/30/2010SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 3, 2010 4/30/2010SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. John M. Sullivan 4/30/2010SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments 4/30/2010SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. John M. Sullivan 4/30/2010SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments 5/3/2010SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Revenue 5/3/2010SenateHouse Floor Amendment No. 2 Motion to Concur Assignments Referred to Revenue 5/3/2010SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Revenue; 007-000-000 5/3/2010SenateHouse Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Revenue; 007-000-000 5/3/2010SenateHouse Committee Amendment No. 1 Senate Concurs 047-000-000 5/3/2010SenateHouse Floor Amendment No. 2 Senate Concurs 047-000-000 5/3/2010SenatePassed Both Houses 6/1/2010SenateSent to the Governor 6/21/2010SenateGovernor Approved 6/21/2010SenateEffective Date January 1, 2011 6/21/2010SenatePublic Act . . . . . . . . . 96-0932