Bill Title: Amends the Illinois Income Tax Act. Reduces the rate of tax on corporations to 1% beginning on January 1, 2016 (currently, the rate is 5.25% until January 1, 2025 and 4.8% thereafter). Makes corresponding changes in provisions concerning transfers to the Local Government Distributive Fund. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2016-02-01 - Referred to Rules Committee [HB4613 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-01-29	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4613

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4613 currently on file.