INC TX-RATES
Summary
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2019, the rate of tax shall be 4.8% for corporations (currently, the rate is 5.25%, but it is scheduled to be reduced to 4.8% on January 1, 2025). Makes conforming changes concerning distributions to the Local Government Distributive Fund. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2017
Committee Review
Floor Vote
Governor
Introduced Feb 10, 2017
Last action Jan 8, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
1
Committee
4
Mar 31, 2017
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 9, 2017
Lower · Passed
To Growth, Reform & Fairness Subcommittee
lower
Feb 22, 2017
Committee
Assigned to Revenue & Finance Committee
lower
Feb 10, 2017
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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