INC TX-CORPORATE RATE House SponsorsRep. Tom Cross-Dwight Kay-Michael Unes-Dan Brady-Roger L. Eddy, Mike Bost, Jim Durkin, Jil Tracy, Norine Hammond, Jason Barickman, Chad Hays, Kay Hatcher, Wayne Rosenthal, Raymond Poe, Rich Brauer, David Reis, Sandy Cole, Patricia R. Bellock, Bill Mitchell and Sidney H. Mathias 1/8/2013HouseSession Sine Die 35 ILCS 5/201from Ch. 120, par. 2-201 Amends the Illinois Income Tax Act. Reduces the corporate income tax rate to (i) 6% for taxable years beginning on or after January 1, 2013 and ending prior to January 1, 2014 and (ii) 4.8% for taxable years beginning on or after January 1, 2014. Requires the Department of Revenue to monitor each month the seasonally-adjusted unemployment rate reported by the United States Department of Labor, Bureau of Labor Statistics, for the previous calendar month. Provides that, if the Department finds that (i) the average unemployment rate for the previous calendar month exceeds the average unemployment rate for any of the 3 calendar months immediately preceding the previous calendar month by more than 0.3% and (ii) the unemployment rate during the previous calendar month was 5.05% or higher, then the Department shall, by rule, decrease the rate of tax imposed on corporations by 0.25% for each 0.3% increase in the unemployment rate. Effective immediately. 12/14/2011HouseFiled with the Clerk by Rep. Tom Cross 12/15/2011HouseAdded Chief Co-Sponsor Rep. Dwight Kay 12/15/2011HouseAdded Chief Co-Sponsor Rep. Michael Unes 12/15/2011HouseAdded Chief Co-Sponsor Rep. Dan Brady 12/15/2011HouseAdded Chief Co-Sponsor Rep. Mike Bost 12/15/2011HouseAdded Co-Sponsor Rep. Jim Durkin 12/15/2011HouseAdded Co-Sponsor Rep. Jil Tracy 12/15/2011HouseAdded Co-Sponsor Rep. Norine Hammond 12/15/2011HouseAdded Co-Sponsor Rep. Jason Barickman 12/15/2011HouseAdded Co-Sponsor Rep. Chad Hays 12/15/2011HouseAdded Co-Sponsor Rep. Kay Hatcher 12/15/2011HouseAdded Co-Sponsor Rep. Wayne Rosenthal 12/15/2011HouseAdded Co-Sponsor Rep. Raymond Poe 12/15/2011HouseAdded Co-Sponsor Rep. Rich Brauer 12/15/2011HouseAdded Co-Sponsor Rep. David Reis 12/15/2011HouseAdded Co-Sponsor Rep. Roger L. Eddy 12/15/2011HouseRemove Chief Co-Sponsor Rep. Mike Bost 12/15/2011HouseAdded Chief Co-Sponsor Rep. Roger L. Eddy 12/15/2011HouseRemoved Co-Sponsor Rep. Roger L. Eddy 12/15/2011HouseAdded Co-Sponsor Rep. Mike Bost 12/19/2011HouseAdded Co-Sponsor Rep. Sandy Cole 1/4/2012HouseAdded Co-Sponsor Rep. Patricia R. Bellock 1/10/2012HouseFirst Reading 1/10/2012HouseReferred to Rules Committee 2/8/2012HouseAdded Co-Sponsor Rep. Sidney H. Mathias 1/8/2013HouseSession Sine Die