Bill Status of SJRCA0017 98th General Assembly
Short Description: CONAMEND-GRADUATED INC TAX
Sen. Michael W. Frerichs and Daniel Biss
|Session Sine Die
Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution. Provides that individual income taxes may be at a graduated or a non-graduated rate. Provides that any such tax imposed on corporations shall be at a non-graduated rate, not to exceed the average of the lowest and highest individual rates by more than a ratio of 8 to 5. Effective upon being declared adopted.