Empower the Profession
 
The Latest Regulatory & Legislative News for Illinois CPAs
Can't see this email? View it in your browser.
 
Capitol Dispatch
 
 
Marty Green's Legislative Update
 
 
FEBRUARY RECAP: Legislation Surge Commences
 
The 101st General Assembly is off and running—and so the spring session’s legislative surge. We also have Gov. Pritzker’s proposed $39 billion FY2020 state operating budget to grasp. House and Senate committee hearings on appropriation and substantive bills will now begin to advance priority legislation of the governor and the democratic majorities in the House and Senate. With 30 percent of the General Assembly consisting of first-time legislators, there has been a substantial number of far reaching bills introduced thus far.

As always, we are monitoring and tracking legislation impacting the CPA profession. We encourage you to use the live 24/7 legislative tracking reports via the links below. Considering all the moving parts, if you are aware of legislation of concern, please reach out to us.
 
 
General Bills Tax Bills Public Acts GA Updates
 
 
 
AD
 
 
 
   TOP LEGISLATION     
 
 
 
State Minimum Wage Legislation Signed Into Law
SB 1 increases the state's minimum wage to $15 an hour by 2025 ($13 an hour for those under the age of 18). The act includes temporary offset credits for businesses that employ fewer than 50 workers. Status: PA 101-0001.
Read More +
 
Local Government Audits Bill Pending
SB 1806 amends the Municipal Audit, County Audit, and Governmental Account Audit Acts to update terminology and eliminate duplicate provisions. This is a trailer bill to SB 2638 that was passed last spring to provide a legislative remedy to governments continuing to use cash basis accounting for audit reports. ICPAS Initiative. Status: Pending, Senate.
Chicago Restrictive Scheduling Ordinance in Focus
CO 2018-5089, the "Chicago Fair Workweek Ordinance," would require employers with employees in the City of Chicago to give two weeks advance notice of scheduled shifts. The ordinance locks employees into rigid schedules and does not accommodate last-minute family obligations or illnesses or trading of shifts. ICPAS has joined the Work Your Way Coalition to educate members of the Chicago City Council, workers, and community leaders about the negative impact restrictive scheduling ordinances have on working families, small businesses, and the city's competitiveness.
Read More +
 
Corporate Loophole Legislation on the Move
HB 2085 and SB 115 amend the Illinois Income Tax Act to reinstate apportioning corporate income earned offshore. The legislation would remove Illinois from the "waters-edge combination" system followed by most states. Status: HB 2085 pending, House Revenue & Finance Committee; SB 115 pending, Senate.
Read More +
 
State Human Rights Act Expansion Pending
HB 252 expands the application of the Human Rights Act to employers, defining an employer as anyone employing one or more people within Illinois during 20 or more calendar weeks within the calendar year or preceding the alleged violation. Status: Pending, House - Second Reading.
Read More +
 
Wage History Prohibition Bills Pending
HB 834 amends the Equal Pay Act to prohibit screenings of wage or salary history and other former occupational wage requests of applicants by employers and limits affirmative defenses in civil actions. See also HB 881, which is preferred by the business community. Status: HB 834 pending, House - Second Reading; HB 881 pending, House Labor and Commerce Committee.
 
Rent Control Preemption Act Repeal With Subcommittee
HB 255 repeals the Rent Control Preemption Act. Status: Pending, House Commercial Law Subcommittee.
Read More +
 
Government Procurement Work to Be Verified?
HB 2127 and HB 1326 would require private businesses who contract with any government body to install tracking devices on every employee's computer who works on a public project to track hours billed for work under the contract for services performed on a computer. ICPAS Opposes. Status: Both bills pending in House Executive Committee.
 
Multi-State Tax Compact Coming?
SB 203 would create an inter-state coalition regarding state tax cuts. The act would prohibit any state in the coalition from granting corporation tax cuts. Status: Pending, Senate Revenue Committee.
Read More +
 
Property Tax Evaluation Amendment Proposed
SB 1160 amends the Property Tax Code to require similar properties to be evaluated when it comes to "dark store" properties. Status: Pending, Senate Revenue Committee.
Read More +
 
Uniform Penalty and Interest Act Penalty Reduction
SB 1349 amends the UPIA to reduce penalties to 15 percent from the current 20 percent for failure to pay the tax show due or required of any amount that is paid after the date that the Department of Revenue has initiated an audit or investigation of the taxpayer. Status: Pending, Senate - Second Reading.
Read More +
 
 
 
 
   NOTABLE NEWS     
 
 
 
Governor Delivers Balanced Budget Proposal
Gov. Pritzker has proposed a $39 billion spending plan for FY2020 and is eyeing a graduated income tax referendum for the Nov. 2020 General Election. Pritzker has proposed closing the $3.2 billion budget gap through a combination of new taxes and decoupling from the federal tax credit for repatriated international earnings.
Read More +
 
Governor Appoints Professional Regulation Cabinet Officials
Gov. Pritzker has appointed/reappointed cabinet and sub-cabinet officials that oversee professional and occupational licensure and regulation and oversight of state banks and financial institutions. Debbie Hagan was appointed as Secretary of the Illinois Department of Financial and Professional Regulation, the umbrella regulatory agency, and Jessica Baer has been reappointed as director of the Division of Professional Regulation that oversees professional and occupational regulation. ICPAS works closely with both positions on licensure and regulation of the CPA profession.
Read More +
 
Pritzker Transition Team Reports Released
Gov. Pritzker's transition team has released a compilation of 11 transition reports on topical areas ranging from agriculture to innovation. The reports include the recommendations of the topical transition subcommittees to the governor and his administration.
Read More +
 
 
 
AD
 
 
 
   INSIGHT MAGAZINE     
 
 
 
INSIGHT MAGAZINE
 
What's in Is Out in Illinois
 
Just how intolerable is Illinois? A look at what’s behind the Land of Lincoln’s outmigration problem.
 
Read More +
 
 
 
 
   eNEWS CENTRAL     
 
 
 
CD   CS
 
IF   PA
 
WHAT'S TRENDING
Pritzker Hits the Ground Running With Executive Orders
Upon assuming the Governor's Office, Gov. Pritzker issued a series of executive orders for state agencies under his direction. Among the four, EO 1903 orders a jobs study that will look at where Illinois should invest and which new industries hold promise for the growth of the state.
 
Read More +
 
 
 
Membership
 
About ICPAS
My Membership
Discount Program
Member Benefits
Resources
 
Being a CPA
Career Center
Connections
Education
Government Relations
Publications
 
See All
INSIGHT Mag
Capitol Dispatch
Career Space
Inside Finance
Practice Advantage
Media Kit
 
 
Facebook   Twitter   Linkedin   Youtube
 
 
 
Copyright © 2019 Illinois CPA Society | All Rights Reserved
 
Contact us:
550 W. Jackson Blvd., Suite 900
Chicago, IL 60661
312.993.0407 | www.icpas.org
 
unsubscribe