IL HB2599 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on February 15 2023 - 25% progression
Action: 2023-03-24 - Added Co-Sponsor Rep. Tom Weber
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 15 2023 - 25% progression
Action: 2023-03-24 - Added Co-Sponsor Rep. Tom Weber
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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.
Title
INC TX-REDUCE INDIVIDUAL RATE
Sponsors
| Rep. Adam Niemerg [R] | Rep. Chris Miller [R] | Rep. Amy Grant [R] | Rep. Martin McLaughlin [R] |
| Rep. Jason Bunting [R] | Rep. Tom Weber [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2023-03-24 | House | Added Co-Sponsor Rep. Tom Weber |
| 2023-03-24 | House | Added Co-Sponsor Rep. Jason Bunting |
| 2023-03-24 | House | Added Co-Sponsor Rep. Martin McLaughlin |
| 2023-03-24 | House | Added Co-Sponsor Rep. Amy L. Grant |
| 2023-03-16 | House | Added Co-Sponsor Rep. Chris Miller |
| 2023-02-15 | House | Referred to Rules Committee |
| 2023-02-15 | House | First Reading |
| 2023-02-15 | House | Filed with the Clerk by Rep. Adam M. Niemerg |
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=2599&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB2599.htm |
