Bill Status of SB1677  98th General Assembly

Short Description:  INCOME TAX-REDUCE RATE

Senate Sponsors
Sen. Matt Murphy

Last Action
DateChamber Action
  1/13/2015SenateSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 305/5from Ch. 124, par. 5
35 ILCS 5/201from Ch. 120, par. 2-201
35 ILCS 5/207from Ch. 120, par. 2-207
35 ILCS 5/901from Ch. 120, par. 9-901
30 ILCS 5/3-20 rep.
30 ILCS 105/5.787 rep.
30 ILCS 105/6z-85 rep.
30 ILCS 105/6z-86 rep.
30 ILCS 105/25.2 rep.
35 ILCS 5/201.5 rep.

Synopsis As Introduced
Amends the Illinois Income Tax Act. Reduces the rate of tax to (i) 3% for individuals, trusts, and estates, and (ii) 4.8% for corporations. Makes corresponding changes concerning the distribution of tax proceeds. Effective immediately.

DateChamber Action
  2/15/2013SenateFiled with Secretary by Sen. Matt Murphy
  2/15/2013SenateFirst Reading
  2/15/2013SenateReferred to Assignments
  2/27/2013SenateAssigned to Appropriations I
  8/9/2013SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/13/2015SenateSession Sine Die