Illinois General Assembly - Bill Status for HB1064
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 Bill Status of HB1064  98th General Assembly

Short Description:  INC TX-RATES

House Sponsors
Rep. Martin J. Moylan - Stephanie A. Kifowit - Sam Yingling - Katherine Cloonen - Natalie A. Manley, Deborah Conroy, Sue Scherer, Jerry F. Costello, II, Carol A. Sente, Patrick J. Verschoore and Kathleen Willis

Last Action
DateChamber Action
  12/3/2014HouseSession 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 5/901from 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.
35 ILCS 5/201.5 rep.


Synopsis As Introduced
Amends the Illinois Income Tax Act. 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. Removes a limitation providing that no net loss carryover deduction may exceed $100,000 for any taxable year ending on or after December 31, 2012 and prior to December 31, 2014. Effective immediately.

Actions 
DateChamber Action
  1/30/2013HouseFiled with the Clerk by Rep. Martin J. Moylan
  1/30/2013HouseFirst Reading
  1/30/2013HouseReferred to Rules Committee
  2/6/2013HouseAdded Chief Co-Sponsor Rep. Stephanie A. Kifowit
  2/6/2013HouseAdded Chief Co-Sponsor Rep. Sam Yingling
  2/6/2013HouseAdded Chief Co-Sponsor Rep. Katherine Cloonen
  2/6/2013HouseAdded Chief Co-Sponsor Rep. Natalie A. Manley
  2/6/2013HouseAdded Co-Sponsor Rep. Deborah Conroy
  2/13/2013HouseAssigned to Appropriations-Elementary & Secondary Education Committee
  2/19/2013HouseRe-assigned to Executive Committee
  3/1/2013HouseAdded Co-Sponsor Rep. Sue Scherer
  3/6/2013HouseAdded Co-Sponsor Rep. Jerry F. Costello, II
  3/7/2013HouseAdded Co-Sponsor Rep. Carol A. Sente
  3/13/2013HouseAdded Co-Sponsor Rep. Patrick J. Verschoore
  3/22/2013HouseAdded Co-Sponsor Rep. Kathleen Willis
  3/22/2013HouseRule 19(a) / Re-referred to Rules Committee
  12/3/2014HouseSession Sine Die

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