IL HB0460 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Reduces the income tax rate for corporations to 2.625% for taxable years beginning on or after January 1, 2017 (currently, the rate is 5.25% for taxable years beginning prior to January 1, 2025 and 4.8% for taxable years beginning on or after January 1, 2025). Effective immediately.
Title
INC TX-CORPORATE INCOME TAX
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-08 | House | Session Sine Die |
| 2017-03-31 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2017-02-24 | House | To Growth, Reform & Fairness Subcommittee |
| 2017-02-10 | House | Added Co-Sponsor Rep. Thomas Morrison |
| 2017-02-02 | House | Assigned to Revenue & Finance Committee |
| 2017-01-17 | House | Referred to Rules Committee |
| 2017-01-17 | House | First Reading |
| 2017-01-13 | House | Filed with the Clerk by Rep. David McSweeney |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 201 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=460&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
| Text | https://www.ilga.gov/legislation/100/HB/10000HB0460.htm |
