IL SB3400

Amends the Illinois Income Tax Act Section 250 regarding sunset provisions for tax exemptions, credits, and deductions.

Makes a technical correction by changing "The" to "The" in subsection (a) concerning exemptions, credits, and deductions that become law after the 1994 amendatory act.

Maintains existing sunset rules requiring new tax exemptions, credits, and deductions to include a reasonable sunset date or automatically expire 5 years after the law's effective date.

Preserves the exception for tax-exempt bond obligations, which do not expire until after the bonds are paid by the issuer.