Gov. J.B. Pritzker says Illinois decoupling from portions of the federal tax code was necessary to keep tax dollars flowing to the state that the federal government was trying to give back.
Signed with slew of other measures last week, Pritzker enacted Senate Bill 1911. The governor’s office said the measure decouples from federal bonus depreciation for newly constructed non-residential real property, among other corporate tax changes.
After announcing grants to address homelessness in Springfield on Monday, Pritzker said Illinois would be hurt if that money was not in state government coffers.
Opponents said the measure makes Illinois less competitive with neighboring states that are conforming with the federal tax changes, allowing businesses like manufacturers to keep more of their money.
Story from Illinois Radio Network
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