Bill Title: Amends the Illinois Income Tax Act. Reduces the rate of tax to (i) 3% for individuals, trusts, and estates, and (ii) 4.8% for corporations. Makes corresponding changes concerning the distribution of tax proceeds. Effective immediately.

Sponsorship: Partisan Bill (Republican 1)

Status: (Failed) 2015-01-13 - Session Sine Die [SB1677 Detail]

Text: Latest bill text (Introduced) [HTML]

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