Friday, May 3, 2019

Alliance Legislative Report 101-15

 As was reported earlier this week in the IASB Legislative Alert and the IASA Capitol Watch, the Illinois State Senate approved a tax reform package Wednesday. SJRCA 1 proposes to amend the Illinois Constitution to allow for graduated income tax rates. SB 687 contains the graduated income tax rates that would be put in place if SJRCA 1 is approved by the voters. SB 689 would repeal the estate tax that is currently imposed in Illinois. SB 690 would, beginning in levy year 2022, place school districts in every county under the Property Tax Extension Limitation Law (PTELL).

While the tax package was attracting all of the attention in the Capitol, other legislative committees were considering bills that have moved over from the opposite chamber.

Both the Senate and House of Representatives will reconvene next Tuesday through Friday.

Click here to read the full Alliance Legislative Report 101-15, including other bill action from the week and bills scheduled for committee next week.