Illinois General Assembly - Bill Status for HB1203
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 Bill Status of HB1203  104th General Assembly


Short Description:  INC TX-RATES

House Sponsors
Rep. Dave Severin

Hearings
Revenue & Finance Committee Hearing Feb 20 2025 8:00AM Capitol Building 114 and Virtual Room 1 Springfield, IL


Last Action
DateChamber Action
  2/11/2025HouseAssigned to Revenue & Finance Committee

Statutes Amended In Order of Appearance
35 ILCS 5/201


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the rate of tax on individuals, trusts, and estates is 4.85% (currently, 4.95%). Makes a conforming change concerning the pass-through entity tax. Effective immediately.

Actions 
DateChamber Action
  1/9/2025HouseFiled with the Clerk by Rep. Dave Severin
  1/9/2025HouseFirst Reading
  1/9/2025HouseReferred to Rules Committee
  2/11/2025HouseAssigned to Revenue & Finance Committee

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