INC TX-REDUCE RATES Senate SponsorsSen. Matt Murphy 1/8/2013SenateSession Sine Die 35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/804from Ch. 120, par. 8-80435 ILCS 5/901from Ch. 120, par. 9-901Amends the Illinois Income Tax Act. Reduces the rates established under Public Act 96-1496 to (i) 3% for individuals, trusts, and estates and (ii) 4.8% for corporations. Makes corresponding changes in Sections concerning estimated taxes and distribution of proceeds into special funds. Effective immediately. 2/8/2011SenateFiled with Secretary by Sen. Matt Murphy 2/8/2011SenateFirst Reading 2/8/2011SenateReferred to Assignments 2/23/2011SenateAssigned to Executive 3/3/2011SenateTo Executive Subcommittee on State Government Operations; - 3/10/2011 - Postponed 3/18/2011SenateRule 3-9(a) / Re-referred to Assignments 1/8/2013SenateSession Sine Die