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Corporate tax bill rejected in state House committee

Published: Monday, Jan. 7, 2013 1:15 a.m. CDT

SPRINGFIELD (AP) – An Illinois House committee has voted down legislation requiring that some corporations make their income tax bills public.

The revenue and finance committee rejected the proposal Sunday, keeping it in committee. Several Republicans called it anti-business and anti-employment.

The Senate approved the bill in November.

Senate President John Cullerton and House Majority Leader Barbara Flynn Currie have said most Illinois corporations don’t pay any income tax but state officials don’t know who they are. The Chicago Democrats have said the proposal would help lawmakers decide future tax policy and whether corporate tax breaks are effective.

Publicly traded corporations would have to post online the amount of corporate income taxes they paid two years prior to publication.

Business groups say tax bills are confidential.

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The bill is SB282.

Online: http://www.ilga.gov

 

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