Illinois 100th Regular Session Status: In Committee

HB 460 — INC TX-CORPORATE INCOME TAX

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 100th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Illinois Income Tax Act. Reduces the income tax rate for corporations to 2.625% for taxable years beginning on or after January 1, 2017 (currently, the rate is 5.25% for taxable years beginning prior to January 1, 2025 and 4.8% for taxable years beginning on or after January 1, 2025). Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 19(a) / Re-referred to Rules Committee

  3. To Growth, Reform & Fairness Subcommittee

  4. Added Co-Sponsor Rep. Thomas Morrison

  5. Assigned to Revenue & Finance Committee

  6. Referred to Rules Committee

  7. First Reading

  8. Filed with the Clerk by Rep. David McSweeney

Sponsors

  • David McSweeney · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • David McSweeney

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
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Frequently asked questions

What does HB 460 do?
Amends the Illinois Income Tax Act. Reduces the income tax rate for corporations to 2.625% for taxable years beginning on or after January 1, 2017 (currently, the rate is 5.25% for taxable years beginning prior to January 1, 2025 and 4.8% for taxable years beginning on or after January 1, 2025). Effective immediately.
Who sponsors HB 460?
HB 460 is sponsored by David McSweeney.
What is the current status of HB 460?
This bill died with 100th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 460?
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Last checked for changes 3 months ago · updated continuously

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