Bill Title: Amends the Illinois Income Tax Act. Reduces the income tax rate for corporations to 3.5% for taxable years beginning on or after January 1, 2014. Removes a provision reducing the income tax rate on corporations if the State exceeds the specified spending limitation. Amends the Minimum Wage Law. Increases the minimum wage to $12 per hour on October 1, 2014. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2015-01-13 - Session Sine Die [SB3126 Detail]

Text: Latest bill text (Introduced) [HTML]

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