IL HB3468 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 10 2017 - 25% progression
Action: 2017-03-31 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2019, the rate of tax shall be 4.8% for corporations (currently, the rate is 5.25%, but it is scheduled to be reduced to 4.8% on January 1, 2025). Makes conforming changes concerning distributions to the Local Government Distributive Fund. Effective immediately.

Tracking Information

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Title

INC TX-RATES

Sponsors


History

DateChamberAction
2017-03-31HouseRule 19(a) / Re-referred to Rules Committee
2017-03-09HouseTo Growth, Reform & Fairness Subcommittee
2017-02-22HouseAssigned to Revenue & Finance Committee
2017-02-10HouseReferred to Rules Committee
2017-02-10HouseFirst Reading
2017-02-10HouseFiled with the Clerk by Rep. Thomas M. Bennett

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355201Amended CodeCitation Text
355901Amended CodeCitation Text

Illinois State Sources


Bill Comments

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