INC TX-RATE DECREASE Senate SponsorsSen. Matt Murphy 1/12/2011SenateSession Sine Die 35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/202.5 new35 ILCS 5/202.5a new35 ILCS 5/202.5b new35 ILCS 5/901from Ch. 120, par. 9-901Amends the Illinois Income Tax Act. Decreases the rate of tax on individuals and on trusts and estates from 3% to 2.85% in 2009, 2.7% in 2010, and 2.5% in 2011 and thereafter. Decreases the rate of tax on corporations from 4.8% to 4.56% in 2009, 4.32% in 2010, and 4% in 2011 and thereafter. Makes corresponding changes. Effective immediately. 2/19/2009SenateFiled with Secretary by Sen. Matt Murphy 2/19/2009SenateFirst Reading 2/19/2009SenateReferred to Assignments 3/4/2009SenateAssigned to Executive 3/12/2009SenatePostponed - Executive 3/13/2009SenateRule 2-10 Committee Deadline Established As April 3, 2009 4/3/2009SenateRule 3-9(a) / Re-referred to Assignments 1/12/2011SenateSession Sine Die