INC TX-RATES
Summary
Amends the Illinois Income Tax Act. Reduces the rate of tax to 3% for individuals, trusts, and estates and 4.8% for corporations. Makes corresponding changes concerning the distribution of tax proceeds. Removes a limitation providing that no net loss carryover deduction may exceed $100,000 for any taxable year ending on or after December 31, 2012 and prior to December 31, 2014. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2013
Committee Review
Floor Vote
Governor
Introduced Jan 30, 2013
Last action Dec 3, 2014
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
17
Key actions
0
Committee
4
Mar 22, 2013
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 19, 2013
Committee
Re-assigned to Executive Committee
lower
Feb 13, 2013
Committee
Assigned to Appropriations-Elementary & Secondary Education Committee
lower
Jan 30, 2013
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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