INC TX-RATES House SponsorsRep. Martin J. Moylan-Stephanie A. Kifowit-Sam Yingling-Katherine Cloonen-Natalie A. Manley, Deborah Conroy, Sue Scherer, Jerry F. Costello, II, Carol A. Sente, Patrick J. Verschoore and Kathleen Willis 12/3/2014HouseSession Sine Die 15 ILCS 305/5from Ch. 124, par. 535 ILCS 5/201from Ch. 120, par. 2-20135 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.35 ILCS 5/201.5 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. Effective immediately. 1/30/2013HouseFiled with the Clerk by Rep. Martin J. Moylan 1/30/2013HouseFirst Reading 1/30/2013HouseReferred to Rules Committee 2/6/2013HouseAdded Chief Co-Sponsor Rep. Stephanie A. Kifowit 2/6/2013HouseAdded Chief Co-Sponsor Rep. Sam Yingling 2/6/2013HouseAdded Chief Co-Sponsor Rep. Katherine Cloonen 2/6/2013HouseAdded Chief Co-Sponsor Rep. Natalie A. Manley 2/6/2013HouseAdded Co-Sponsor Rep. Deborah Conroy 2/13/2013HouseAssigned to Appropriations-Elementary & Secondary Education Committee 2/19/2013HouseRe-assigned to Executive Committee 3/1/2013HouseAdded Co-Sponsor Rep. Sue Scherer 3/6/2013HouseAdded Co-Sponsor Rep. Jerry F. Costello, II 3/7/2013HouseAdded Co-Sponsor Rep. Carol A. Sente 3/13/2013HouseAdded Co-Sponsor Rep. Patrick J. Verschoore 3/22/2013HouseAdded Co-Sponsor Rep. Kathleen Willis 3/22/2013HouseRule 19(a) / Re-referred to Rules Committee 12/3/2014HouseSession Sine Die