Bill Title: Amends the Illinois Income Tax Act. Provides that the personal property replacement income tax shall not be imposed for the taxable year in which the taxpayer first begins doing business in Illinois or for the 2 immediately succeeding taxable years. Provides that, for subsequent taxable years, the tax shall be increased by 0.5% per year until such time as the tax is imposed at the rates set forth in the Act. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3460 Detail]

Text: Latest bill text (Introduced) [HTML]

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