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 Bill Status of HB4211  100th General Assembly


Short Description:  INC TX-REDUCE RATES

House Sponsors
Rep. Charles Meier

Last Action
DateChamber Action
  1/16/2018HouseReferred to Rules Committee

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. Provides that, for taxable years beginning on or after January 1, 2018 and beginning prior to January 1, 2025, the rates of tax shall be (i) 3.75% for individuals, trusts, and estates and (ii) 5.25% for corporations. Provides that, for taxable years beginning on or after January 1, 2025, the rates of tax shall be (i) 3.25% for individuals, trusts, and estates and (ii) 4.8% for corporations. Effective immediately.

Actions 
DateChamber Action
  1/3/2018HouseFiled with the Clerk by Rep. Charles Meier
  1/16/2018HouseFirst Reading
  1/16/2018HouseReferred to Rules Committee

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