INCOME TAX RATES
Summary
Proposes to amend the Revenue Article of the Illinois Constitution. Authorizes a tax on or measured by income to be at a graduated rate (now, all taxes on or measured by income shall be at a non-graduated rate). Provides that, in any such tax imposed upon corporations, the rate shall not exceed the highest rate imposed on individuals by more than a ratio of 8 to 5. Deletes provisions limiting to one the number of income taxes for State purposes imposed on corporations. Effective upon being declared adopted.
Bill status
failed
1 of 4 stages cleared
Introduction
Aug 2007
Committee Review
Floor Vote
Governor
Introduced Aug 2, 2007
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
1
Jan 13, 2009
Senate · Failed
Session Sine Die
Aug 2, 2007
Senate · Referred to committee
Referred to Rules
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Michael W. Frerichs
DDemocratic
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