Bill Status of SJRCA0086 95th General Assembly
Short Description: INCOME TAX RATES
Sen. Michael W. Frerichs - Kwame Raoul
| 1/13/2009||Senate||Session Sine Die|
Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution. Authorizes a tax on or measured by income to be at a graduated rate (now, all taxes on or measured by income shall be at a non-graduated rate). Provides that, in any such tax imposed upon corporations, the rate shall not exceed the average rate imposed on individuals by more than a ratio of 8 to 5. Deletes provisions limiting to one the number of income taxes for State purposes imposed on corporations. Effective upon being declared adopted.
|Date||Chamber|| Action|| 3/5/2008||Senate||Filed with Secretary|| 3/5/2008||Senate||Referred to Rules|| 3/6/2008||Senate||Added as Chief Co-Sponsor Sen. Kwame Raoul|| 1/13/2009||Senate||Session Sine Die|