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Home > Illinois > SJRCA0089
Chief Sponsor:

Michael W. Frerichs

Tagged in: Corporations, Tax

Latest Update: Monday, December, 01st 2008

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INCOME TAX RATES

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. Effective upon being declared adopted.
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Latest Actions
  • 04/08/2008 - Added as Co-Sponsor Sen. Don Harmon
  • 04/02/2008 - Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  • 04/02/2008 - Filed with Secretary
  • 04/02/2008 - Added as Chief Co-Sponsor Sen. Kwame Raoul
  • 04/02/2008 - Added as Chief Co-Sponsor Sen. David Koehler

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Bill Text
File name Last Updated
SJRCA0089 Bill Text Introduced PDF04/03/2008