INC TX-RATES House SponsorsRep. David McSweeney-Brad E. Halbrook-Jack D. Franks 12/3/2014HouseSession Sine Die 35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/201.535 ILCS 5/207from Ch. 120, par. 2-20735 ILCS 5/901from Ch. 120, par. 9-90130 ILCS 105/5.786 rep.30 ILCS 105/5.787 rep.30 ILCS 105/6z-85 rep.30 ILCS 105/6z-86 rep. Amends the Illinois Income Tax Act. Reduces the rate of tax to 3% for individuals, trusts, and estates and 4.8% for corporations. Makes corresponding changes concerning the distribution of tax proceeds. Removes a limitation providing that no net loss carryover deduction may exceed $100,000 for any taxable year ending on or after December 31, 2012 and prior to December 31, 2014. Provides that, if the State exceeds certain specified spending limitations, the Auditor General shall post a copy of the supplemental spending report on his or her website. Effective immediately. 1/9/2013HouseFiled with the Clerk by Rep. David McSweeney 1/9/2013HouseFirst Reading 1/9/2013HouseReferred to Rules Committee 1/10/2013HouseAdded Chief Co-Sponsor Rep. Brad E. Halbrook 1/30/2013HouseAssigned to Appropriations-Elementary & Secondary Education Committee 2/19/2013HouseRe-assigned to Executive Committee 3/7/2013HouseAdded Chief Co-Sponsor Rep. Jack D. Franks 3/19/2013HouseMotion Filed to Discharge Committee Executive Committee; Rep. Dennis M. Reboletti 3/20/2013HouseMotion Discharge Committee Lost 048-055-000 3/22/2013HouseRule 19(a) / Re-referred to Rules Committee 12/3/2014HouseSession Sine Die