INC TX-RATES
Summary
Amends the Illinois Income Tax Act. For taxable years beginning on or after January 1, 2015, 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. Provides that, if the State exceeds certain specified spending limitations, the Auditor General shall post a copy of the supplemental spending report on his or her website. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2015
Committee Review
Floor Vote
Governor
Introduced Jan 14, 2015
Last action Jan 10, 2017
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
4
Jan 10, 2017
House · Failed
Session Sine Die
Mar 27, 2015
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Feb 20, 2015
House · Reported by committee
To Income Tax Subcommittee
Feb 3, 2015
House · Referred to committee
Assigned to Revenue & Finance Committee
Jan 14, 2015
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
David McSweeney
RRepublican
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