Bill Title: Amends the Illinois Income Tax Act. Reduces the income tax rate for corporations to 2.625% for taxable years beginning on or after January 1, 2017 (currently, the rate is 5.25% for taxable years beginning prior to January 1, 2025 and 4.8% for taxable years beginning on or after January 1, 2025). Effective immediately.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB0460 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative David McSweeney [R]	Primary	Sponsored Bills	HD-052	FollowTheMoney	Ballotpedia	VoteSmart
Representative Thomas Morrison [R]	Cosponsor	Sponsored Bills	HD-054	FollowTheMoney	Ballotpedia	VoteSmart

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