Date	Chamber	Action
1/10/2017	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/201

from Ch. 120, par. 2-201

35 ILCS 5/901

from 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 

Date	Chamber	Action
1/29/2016	House	Filed with the Clerk by Rep. Jack D. Franks
2/1/2016	House	First Reading
2/1/2016	House	Referred to Rules Committee
1/10/2017	House	Session Sine Die

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