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HB 5318

Illinois House•Introduced

Summary

HB 5318, “INC TAX-COMBINED REPORTING”, was introduced in the House on Feb 5, 2026 by Rep. Maurice West (D) with 6 co-sponsors. It was referred to Rules, and last saw action on May 25, 2026: Added Co-Sponsor Rep. La Shawn K. Ford.

Record

Text

HB 5318 has 6 co-sponsors.

hb5318/introduced.txt
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Full Text of HB5318
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					HB5318 - 104th General Assembly
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Amends the Illinois Income Tax Act. Provides that provisions of the Act that provide that a taxpayer's unitary business group does not include members whose business activity outside the United States is 80% or more of the member's total business activity apply only for taxable years ending before January 1, 2027. Makes corresponding changes to deductions and addition modifications concerning those members of the unitary business group. Provides that, with respect to the term "foreign person", "United States" means the 50 states of the United States, the District of Columbia, the territories and possessions of the United States, and any area over which the United States has asserted jurisdiction or claimed exclusive rights with respect to the exploration for or exploitation of natural resources. Adds provisions concerning joint and several liability of members of a combined reporting group. Effective immediately.

Sponsors

Rep. Maurice West (D) sponsors HB 5318, and 6 members have co-sponsored it.

Committees

HB 5318 went before 2 committees: Rules and Revenue & Finance.

Rules
Rules
Referred to · Feb 10, 2026 · 5,290 Bills
Revenue & Finance
Revenue & Finance
Referred to · Mar 4, 2026

History

HB 5318 has taken 11 actions since Feb 5, 2026, the latest on May 25, 2026.

ChamberAction
May 25, 2026
House
Added Co-Sponsor Rep. La Shawn K. Ford
May 13, 2026
House
Added Co-Sponsor Rep. Rita Mayfield
Apr 15, 2026
House
Added Co-Sponsor Rep. Lisa Davis
Apr 10, 2026
House
Added Co-Sponsor Rep. Dagmara Avelar
Apr 1, 2026
House
Added Co-Sponsor Rep. Ann M. Williams

Votes

HB 5318 has not gone to a roll call.

Source: ilga.gov · legiscan.com