# Illinois SB1956: INC TX-INTEREST MODIFICATION

Illinois SB1956, INC TX-INTEREST MODIFICATION, is a 104th General Assembly (2025–2026) Senate bill sponsored by Elgie R. Sims, Jr. (Democratic); status in committee, last action 2025-06-02 (Rule 3-9(a) / Re-referred to Assignments) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB1956-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB1956
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: INC TX-INTEREST MODIFICATION
- Status: in committee
- Chamber: Senate
- Introduced: 2025-02-06
- Last action: 2025-06-02, Rule 3-9(a) / Re-referred to Assignments
- Sponsor: Elgie R. Sims, Jr. (Democratic)
- Cosponsors: 0
- Subjects: assignments, revenue
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Amends the Illinois Income Tax Act. Makes changes in provisions concerning (i) an addition modification for interest paid, accrued, or incurred to a person who would be a member of the taxpayer's unitary business group but for the fact that the person is ordinarily required to apportion business income under different provisions of the Act and (ii) an addition modification for intangible expenses and costs otherwise allowed as a deduction in computing the taxpayer's base income that were paid, accrued, or incurred to a person who would be a member of the taxpayer's unitary business group but for the fact that the person is ordinarily required to apportion business income under different provisions of the Act. Effective immediately.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Elgie R. Sims, Jr. (Democratic), Senate

## Actions (9)

- 2025-06-02: Rule 3-9(a) / Re-referred to Assignments (Senate)
- 2025-05-23: Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 (Senate)
- 2025-05-09: Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 (Senate)
- 2025-04-11: Rule 2-10 Committee Deadline Established As May 9, 2025 (Senate)
- 2025-03-21: Rule 2-10 Committee Deadline Established As April 11, 2025 (Senate)
- 2025-02-25: Assigned to Revenue (Senate)
- 2025-02-06: Referred to Assignments (Senate)
- 2025-02-06: First Reading (Senate)
- 2025-02-06: Filed with Secretary by Sen. Elgie R. Sims, Jr. (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1956.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1956.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-SB1956-2025-2026 (as of 2026-11-01).