Illinois General Assembly - Bill Status for HB4613
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 Bill Status of HB4613  9th General Assembly


Short Description:  INC TX-CORPORATE RATE

House Sponsors
Rep. Jack D. Franks

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

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. Reduces the rate of tax on corporations to 1% beginning on January 1, 2016 (currently, the rate is 5.25% until January 1, 2025 and 4.8% thereafter). Makes corresponding changes in provisions concerning transfers to the Local Government Distributive Fund. Effective immediately.

Actions 
DateChamber Action
  1/29/2016HouseFiled with the Clerk by Rep. Jack D. Franks
  2/1/2016HouseFirst Reading
  2/1/2016HouseReferred to Rules Committee
  1/10/2017HouseSession Sine Die

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