INCOME TX RATE-INCREASES
Summary
Amends the Illinois Income Tax Act. Increases the rate of tax on individuals and on trusts and estates from 3% to 4%. Increases the amount of the standard exemption for individuals from $2,000 to $12,000. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
May 2004
Committee Review
Floor Vote
Governor
Introduced May 5, 2004
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
9
Key actions
0
Committee
1
Apr 27, 2004
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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