INCOME TAX-RATES House SponsorsRep. Brad E. Halbrook 12/3/2014HouseSession Sine Die 35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/901from Ch. 120, par. 9-901 Amends the Illinois Income Tax Act. Reduces the rate of tax on corporations to 4.8%. Makes corresponding changes concerning the distribution of tax proceeds. Effective immediately. 2/13/2014HouseFiled with the Clerk by Rep. Brad E. Halbrook 2/13/2014HouseFirst Reading 2/13/2014HouseReferred to Rules Committee 12/3/2014HouseSession Sine Die