INC TX-RATE DECREASE
Summary
Amends the Illinois Income Tax Act. Decreases the rate of tax on individuals and on trusts and estates from 3% to 2.85% in 2008, 2.7% in 2009, and 2.5% in 2010 and thereafter. Decreases the rate of tax on corporations from 4.8% to 4.56% in 2008, 4.32% in 2009, and 4% in 2010 and thereafter. Makes corresponding changes. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2008
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2008
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
1
Jan 13, 2009
Senate · Failed
Session Sine Die
Feb 14, 2008
Senate · Referred to committee
Referred to Rules
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Matt Murphy
RRepublican
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