IL SB3658

Establishes a new graduated income tax rate structure for individuals, trusts, and estates in Illinois for taxable years beginning on or after January 1, 2027, replacing the current flat 4.95% rate.

Amends the Illinois Income Tax Act by adding Section 201.3, which will contain the new income-based tax rate schedule.

Maintains the existing flat corporate income tax rate of 7% for corporations, with no changes to business taxation.

Introduced by Senator Robert F. Martwick on February 5, 2026, during the 104th General Assembly.

The bill text is incomplete, cutting off before the specific graduated tax brackets and rates in Section 201.3 are detailed.