Illinois General Assembly - Bill Status for HB2890
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 Bill Status of HB2890  98th General Assembly

Short Description:  INC TX-CORPORATE RATE

House Sponsors
Rep. Dwight Kay - Tom Cross - Michael W. Tryon - Robert W. Pritchard - Chad Hays, Jim Sacia, Rich Brauer, Wayne Rosenthal, Adam Brown, Bill Mitchell, John D. Cavaletto, Brad E. Halbrook, C.D. Davidsmeyer, Michael Unes, Norine Hammond, Jil Tracy, John M. Cabello, Renée Kosel, David Harris, David R. Leitch, Michael P. McAuliffe, Raymond Poe, Darlene J. Senger, Keith P. Sommer, Patricia R. Bellock, Jeanne M Ives, Sandra M. Pihos, Jim Durkin, Pam Roth, David Reis, Josh Harms, Charles E. Meier, Ed Sullivan, Jr., Tom Demmer and JoAnn D. Osmond

Last Action
DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201


Synopsis As Introduced
Amends the Illinois Income Tax Act. Reduces the corporate income tax rate to (i) 6% for taxable years beginning on or after January 1, 2014 and ending prior to January 1, 2015 and (ii) 4.8% for taxable years beginning on or after January 1, 2015. Requires the Department of Revenue to monitor each month the seasonally-adjusted unemployment rate reported by the United States Department of Labor, Bureau of Labor Statistics, for the previous calendar month. Provides that, if the Department finds that (i) the average unemployment rate for the previous calendar month exceeds the average unemployment rate for any of the 3 calendar months immediately preceding the previous calendar month by more than 0.3% and (ii) the unemployment rate during the previous calendar month was 5.05% or higher, then the Department shall, by rule, decrease the rate of tax imposed on corporations by 0.25% for each 0.3% increase in the unemployment rate. Effective immediately.

Actions 
DateChamber Action
  2/25/2013HouseFiled with the Clerk by Rep. Dwight Kay
  2/25/2013HouseAdded Chief Co-Sponsor Rep. Michael W. Tryon
  2/26/2013HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard
  2/26/2013HouseAdded Chief Co-Sponsor Rep. Chad Hays
  2/26/2013HouseAdded Chief Co-Sponsor Rep. Tom Cross
  2/26/2013HouseChief Co-Sponsor Changed to Rep. Tom Cross
  2/26/2013HouseFirst Reading
  2/26/2013HouseReferred to Rules Committee
  2/27/2013HouseAdded Co-Sponsor Rep. Jim Sacia
  2/27/2013HouseAdded Co-Sponsor Rep. Rich Brauer
  2/27/2013HouseAdded Co-Sponsor Rep. Wayne Rosenthal
  2/27/2013HouseAdded Co-Sponsor Rep. Adam Brown
  2/27/2013HouseAdded Co-Sponsor Rep. Bill Mitchell
  2/27/2013HouseAdded Co-Sponsor Rep. John D. Cavaletto
  2/27/2013HouseAdded Co-Sponsor Rep. Brad E. Halbrook
  2/27/2013HouseAdded Co-Sponsor Rep. C.D. Davidsmeyer
  2/27/2013HouseAdded Co-Sponsor Rep. Michael Unes
  2/27/2013HouseAdded Co-Sponsor Rep. Norine Hammond
  2/27/2013HouseAdded Co-Sponsor Rep. Jil Tracy
  2/27/2013HouseAdded Co-Sponsor Rep. John M. Cabello
  2/27/2013HouseAdded Co-Sponsor Rep. Renée Kosel
  2/27/2013HouseAdded Co-Sponsor Rep. David Harris
  2/27/2013HouseAdded Co-Sponsor Rep. David R. Leitch
  2/27/2013HouseAdded Co-Sponsor Rep. Michael P. McAuliffe
  2/27/2013HouseAdded Co-Sponsor Rep. Raymond Poe
  2/27/2013HouseAdded Co-Sponsor Rep. Darlene J. Senger
  2/27/2013HouseAdded Co-Sponsor Rep. Keith P. Sommer
  2/27/2013HouseAdded Co-Sponsor Rep. Patricia R. Bellock
  2/27/2013HouseAdded Co-Sponsor Rep. Jeanne M Ives
  2/27/2013HouseAdded Co-Sponsor Rep. Sandra M. Pihos
  2/27/2013HouseAdded Co-Sponsor Rep. Jim Durkin
  2/27/2013HouseAdded Co-Sponsor Rep. Pam Roth
  2/27/2013HouseAdded Co-Sponsor Rep. David Reis
  3/4/2013HouseAssigned to Revenue & Finance Committee
  3/15/2013HouseAdded Co-Sponsor Rep. Josh Harms
  3/15/2013HouseAdded Co-Sponsor Rep. Charles E. Meier
  3/15/2013HouseAdded Co-Sponsor Rep. Ed Sullivan, Jr.
  3/15/2013HouseAdded Co-Sponsor Rep. Tom Demmer
  3/15/2013HouseAdded Co-Sponsor Rep. JoAnn D. Osmond
  3/22/2013HouseRule 19(a) / Re-referred to Rules Committee
  12/3/2014HouseSession Sine Die

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