INC TX-RATES House SponsorsRep. David McSweeney and Natalie A. Manley 1/10/2017HouseSession Sine Die 35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/201.535 ILCS 5/901from Ch. 120, par. 9-90130 ILCS 105/5.786 rep.30 ILCS 105/5.787 rep.30 ILCS 105/6z-85 rep.30 ILCS 105/6z-86 rep. Amends the Illinois Income Tax Act. For taxable years beginning on or after January 1, 2015, reduces the rate of tax to 3% for individuals, trusts, and estates and 4.8% for corporations. Makes corresponding changes concerning the distribution of tax proceeds. Provides that, if the State exceeds certain specified spending limitations, the Auditor General shall post a copy of the supplemental spending report on his or her website. Effective immediately. 1/14/2015HouseFiled with the Clerk by Rep. David McSweeney 1/14/2015HouseFirst Reading 1/14/2015HouseReferred to Rules Committee 2/3/2015HouseAssigned to Revenue & Finance Committee 2/20/2015HouseTo Income Tax Subcommittee 3/5/2015HouseAdded Co-Sponsor Rep. Natalie A. Manley 3/27/2015HouseRule 19(a) / Re-referred to Rules Committee 1/10/2017HouseSession Sine Die