Illinois House Bill 5017

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Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on February 4 2026 - 25% progression, died in committee
Action: 2026-02-10 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that the rate of tax on individuals, trusts, and estates shall be (i) 4.5667% of the taxpayer's net income for taxable years beginning on or after January 1, 2026 and ending before January 1, 2027, (ii) 4.1833% of the taxpayer's net income for taxable years beginning on or after January 1, 2027 and ending before January 1, 2028, and (iii) 3.8% of the taxpayer's net income for taxable years beginning on or after January 1, 2028 (currently, 4.95%). Provides that the rate of tax for corporations is (i) 6.3% of the taxpayer's net income for taxable years beginning on or after January 1, 2026 and ending before January 1, 2027, (ii) 5.6% of the taxpayer's net income for taxable years beginning on or after January 1, 2027 and ending before January 1, 2028, and (iii) 4.9% of the taxpayer's net income for taxable years beginning on or after January 1, 2028. Effective immediately.

INC TX-RATES

Rep. Tony McCombie [R]

Date	Chamber	Action
2026-02-10	House	Referred to Rules Committee
2026-02-10	House	First Reading
2026-02-04	House	Filed with the Clerk by Rep. Tony M. McCombie

Chapter	Article	Section	Citation Type	Statute Text
35	5	201	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/Legislation/BillStatus?DocNum=5017&GAID=18&DocTypeID=HB&LegId=166442&SessionID=114
Text	https://www.ilga.gov/Legislation/BillStatus/FullText?LegDocId=207788&DocName=10400HB5017&DocNum=5017&DocTypeID=HB&LegID=166442&GAID=18&SessionID=114&SpecSess=&Session=