IL HB4211 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2018 and beginning prior to January 1, 2025, the rates of tax shall be (i) 3.75% for individuals, trusts, and estates and (ii) 5.25% for corporations. Provides that, for taxable years beginning on or after January 1, 2025, the rates of tax shall be (i) 3.25% for individuals, trusts, and estates and (ii) 4.8% for corporations. Effective immediately.
Title
INC TX-REDUCE RATES
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-08 | House | Session Sine Die |
| 2018-01-16 | House | Referred to Rules Committee |
| 2018-01-16 | House | First Reading |
| 2018-01-03 | House | Filed with the Clerk by Rep. Charles Meier |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 201 | Amended Code | Citation Text |
| 35 | 5 | 901 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4211&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
| Text | https://www.ilga.gov/legislation/100/HB/10000HB4211.htm |
