INC TX-CORPORATE INCOME TAX
Summary
Amends the Illinois Income Tax Act. Reduces the income tax rate for corporations to 2.625% for taxable years beginning on or after January 1, 2017 (currently, the rate is 5.25% for taxable years beginning prior to January 1, 2025 and 4.8% for taxable years beginning on or after January 1, 2025). Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2017
Committee Review
Floor Vote
Governor
Introduced Jan 13, 2017
Last action Jan 8, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
4
Jan 8, 2019
House · Failed
Session Sine Die
Mar 31, 2017
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Feb 24, 2017
House · Reported by committee
To Growth, Reform & Fairness Subcommittee
Feb 2, 2017
House · Referred to committee
Assigned to Revenue & Finance Committee
Jan 17, 2017
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
David McSweeney
RRepublican
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