Illinois General Assembly - Bill Status for HB0176
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 Bill Status of HB0176  99th General Assembly

Short Description:  INC TX-RATES

House Sponsors
Rep. David McSweeney and Natalie A. Manley

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 5/201.5
35 ILCS 5/901from Ch. 120, par. 9-901
30 ILCS 105/5.786 rep.
30 ILCS 105/5.787 rep.
30 ILCS 105/6z-85 rep.
30 ILCS 105/6z-86 rep.

Synopsis As Introduced
Amends the Illinois Income Tax Act. For taxable years beginning on or after January 1, 2015, 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. Provides that, if the State exceeds certain specified spending limitations, the Auditor General shall post a copy of the supplemental spending report on his or her website. Effective immediately.

DateChamber Action
  1/14/2015HouseFiled with the Clerk by Rep. David McSweeney
  1/14/2015HouseFirst Reading
  1/14/2015HouseReferred to Rules Committee
  2/3/2015HouseAssigned to Revenue & Finance Committee
  2/20/2015HouseTo Income Tax Subcommittee
  3/5/2015HouseAdded Co-Sponsor Rep. Natalie A. Manley
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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