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Illinois Senate approves Cullerton tax transparency
6:39AM Thursday
November 29, 2012

Illinois Senate President John Cullerton narrowly won support for a plan to require more tax disclosure from Illinois corporations. (WJBC file photo)

By The Associated Press

SPRINGFIELD - Illinois Senate President John Cullerton's plan to require corporations' income tax bills to be made public has barely won approval.

The Senate voted 30-27 yesterday to OK a proposal Cullerton says would help lawmakers plan tax policy.

The Chicago Democrat says legislators don't know whether their tax incentives and credits are working. He says two-thirds of businesses doing work in Illinois pay no corporate income tax.

Republicans criticized the measure as ``anti-business (and) anti-employment.'' Others questioned whether it would be legal to post the information. Cullerton amended the bill to prevent posting of federally prohibited tax information.

Cullerton says the legislation is ``not a `gotcha' to the business community.''

Business leaders say it unfairly targets some businesses.  

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