| IL | HB1203 | Intro
25% | Amends the Illinois Income Tax Act. Provides that the rate of tax on individuals, trusts, and estates is 4.85% (currently, 4.95%). Makes a conforming change concerning the pass-through entity tax. Effective immediately.
[Detail][Text][Discuss] | 2025-02-11
[Hearing: Feb 20 @ 8:00 am]
To House Revenue & Finance Committee |
| IL | SB2188 | Intro
25% | Amends the Illinois Income Tax Act. Creates a credit for financial institutions with less than $50,000,000,000 in assets in an amount equal to the aggregate amount of all fees, penalties, and any other income derived during the taxable year from each...
[Detail][Text][Discuss] | 2025-02-07
To Senate Assignments Committee |
| IL | SB2390 | Intro
25% | Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obta...
[Detail][Text][Discuss] | 2025-02-07
To Senate Assignments Committee |
| IL | HB3821 | Intro
25% | Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2025, the maximum amount of the education expense credit is $1,500 (currently, $750). Effective immediately.
[Detail][Text][Discuss] | 2025-02-07
Filed with the Clerk by Rep. Ryan Spain |
| IL | HB2608 | Intro
25% | Amends the Illinois Income Tax Act. Reduces the rate of tax on individuals, trusts, estates, and certain pass-through entities from 4.95% to 3.75%. Reduces the rate of tax on corporations from 7% to 6%. Effective immediately.
[Detail][Text][Discuss] | 2025-02-06
To House Rules Committee |
| IL | HB2609 | Intro
25% | Amends the Illinois Income Tax Act. Reduces the rate of tax on corporations from 7% to 5.5%. Effective immediately.
[Detail][Text][Discuss] | 2025-02-06
To House Rules Committee |
| IL | HB2702 | Intro
25% | Amends the Illinois Income Tax Act. Removes provisions providing that the pass-through entity level election applies only for tax years beginning prior to January 1, 2026. Effective immediately.
[Detail][Text][Discuss] | 2025-02-06
To House Rules Committee |
| IL | HB3025 | Intro
25% | Amends the Illinois Income Tax Act. Makes a technical change in a provision concerning the imposition of tax under the Act.
[Detail][Text][Discuss] | 2025-02-06
To House Rules Committee |
| IL | SB1813 | Intro
25% | Amends the Illinois Income Tax Act. Provides that the education expense credit shall be 50% of the qualified education expenses incurred by a custodian on behalf of a qualifying pupil. Provides that, for tax years ending on or after December 31, 2025...
[Detail][Text][Discuss] | 2025-02-06
To Senate Assignments Committee |
| IL | SB1896 | Intro
25% | Amends the Illinois Pension Code. Creates the State-Funded Retirement Systems Council to appoint and oversee the Pension Funding Trustee and to monitor and verify State funding to the State-Funded Retirement Systems. Creates the Office of Pension Tru...
[Detail][Text][Discuss] | 2025-02-06
To Senate Assignments Committee |
| IL | SB2021 | Intro
25% | Amends the Illinois Income Tax Act. Removes provisions providing that the pass-through entity level election applies only for tax years beginning prior to January 1, 2026. Effective immediately.
[Detail][Text][Discuss] | 2025-02-06
To Senate Assignments Committee |
| IL | SB0252 | Intro
25% | Amends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Effective immediately.
[Detail][Text][Discuss] | 2025-02-04
To Senate Revenue Committee |
| IL | HB1602 | Intro
25% | Amends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Effective immediately.
[Detail][Text][Discuss] | 2025-01-28
To House Rules Committee |
