Bill Title: 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.

Spectrum: Partisan Bill (Democrat 11-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB1064 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Martin Moylan [D]	Primary	Sponsored Bills	HD-055	FollowTheMoney	Ballotpedia	VoteSmart
Representative Stephanie Kifowit [D]	Cosponsor	Sponsored Bills	HD-084	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sam Yingling [D]	Cosponsor	Sponsored Bills	HD-062	FollowTheMoney	Ballotpedia	VoteSmart
Representative Katherine Cloonen [D]	Cosponsor	Sponsored Bills	HD-079	FollowTheMoney	Ballotpedia	VoteSmart
Representative Natalie Manley [D]	Cosponsor	Sponsored Bills	HD-098	FollowTheMoney	Ballotpedia	VoteSmart
Representative Deborah Conroy [D]	Cosponsor	Sponsored Bills	HD-046	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sue Scherer [D]	Cosponsor	Sponsored Bills	HD-096	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jerry Costello [D]	Cosponsor	Sponsored Bills	HD-116	FollowTheMoney	Ballotpedia	VoteSmart
Representative Carol Sente [D]	Cosponsor	Sponsored Bills	HD-059	FollowTheMoney	Ballotpedia	VoteSmart
Representative Patrick Verschoore [D]	Cosponsor	Sponsored Bills	HD-072	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kathleen Willis [D]	Cosponsor	Sponsored Bills	HD-077	FollowTheMoney	Ballotpedia	VoteSmart

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