IL SB3874

Repeals provisions in the Illinois Income Tax Act concerning the enhanced bonus depreciation deduction, making the add-back requirement permanent for tax year 2001 and thereafter

Removes the scheduled expiration date of 2025 for the bonus depreciation add-back requirement under Section 168(k) of the Internal Revenue Code

Eliminates references to Section 168(n) bonus depreciation provisions that were set to apply for taxable years 2026 and thereafter

Amends Section 203 of the Illinois Income Tax Act (35 ILCS 5/203), which defines base income for state income tax purposes

Takes effect immediately upon becoming law