INC TX-REDUCE INDIVIDUAL RATE
Summary
Amends the Illinois Income Tax Act. Reduces the rate of tax on individuals, trusts, estates, and certain pass-through entities from 4.95% to 3.75%. Reduces the rate of tax on corporations from 7% to 6%. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Floor Vote
Governor
Introduced Feb 15, 2023
Last action Mar 24, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
1
Feb 15, 2023
Committee
Referred to Rules Committee
lower
1 primary · 5 co-sponsors
Sponsors
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