Bill Title: 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.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced) 2026-02-10 - Referred to Rules Committee [HB5017 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Introduced	2026-02-04	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5017

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5017 currently on file.