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 Bill Status of HB0460  100th General Assembly


Short Description:  INC TX-CORPORATE INCOME TAX

House Sponsors
Rep. David McSweeney and Thomas Morrison

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


Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/13/2017HouseFiled with the Clerk by Rep. David McSweeney
  1/17/2017HouseFirst Reading
  1/17/2017HouseReferred to Rules Committee
  2/2/2017HouseAssigned to Revenue & Finance Committee
  2/10/2017HouseAdded Co-Sponsor Rep. Thomas Morrison
  2/24/2017HouseTo Growth, Reform & Fairness Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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