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 Bill Status of HB3468  100th General Assembly


Short Description:  INC TX-RATES

House Sponsors
Rep. Thomas M. Bennett

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201
35 ILCS 5/901from Ch. 120, par. 9-901


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2019, the rate of tax shall be 4.8% for corporations (currently, the rate is 5.25%, but it is scheduled to be reduced to 4.8% on January 1, 2025). Makes conforming changes concerning distributions to the Local Government Distributive Fund. Effective immediately.

Actions 
DateChamber Action
  2/10/2017HouseFiled with the Clerk by Rep. Thomas M. Bennett
  2/10/2017HouseFirst Reading
  2/10/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Revenue & Finance Committee
  3/9/2017HouseTo Growth, Reform & Fairness Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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