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HB 155 Illinois House · 94th Regular Session

INC TX-RATE-EXEMPTIONS

Summary
Amends the Illinois Income Tax Act. Increases the rate of tax on individuals and on trusts and estates from 3% to 4%. Increases the amount of the standard exemption for individuals from $2,000 to $12,000. Provides that for each taxable year beginning on or after January 1, 2005, the amount of the earned income tax credit is 20% (now, 5%) of the federal tax credit. Effective immediately.
Bill status failed 1 of 4 stages cleared
Introduction
Jan 2005
Committee Review
Floor Vote
Governor
Introduced Jan 24, 2005 Last action Jan 9, 2007
Floor votes

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Full legislative history

Actions timeline

Total actions
8
Key actions
0
Committee
3
Mar 10, 2005
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Jan 26, 2005
Committee
Assigned to Revenue Committee
lower
Jan 12, 2005
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

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