Illinois · House Bill 4246 · 103rd General Assembly

INC TX-NEW BUSINESSES

HB 4246 Sponsored by Jed Davis Died in committee

  1. Introduced Nov 29, 2023
  2. In committee Jan 16, 2024
  3. Died  
  4. Passed the Senate  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Illinois Income Tax Act. Creates a deduction for 100% of the income of a qualified new business. Provides that the term "qualified new business" means a business that has its principal place of business in the State and first begins operating in the State during the taxable year.

Every action

11 steps, oldest first, as the legislature records them.

  1. HouseFiled with the Clerk by Rep. Jed Davis
  2. HouseFirst Reading
  3. CommitteeReferred to Rules Committee · House Rules
  4. CommitteeAssigned to Revenue & Finance Committee · House Revenue & Finance
  5. HouseAdded Co-Sponsor Rep. Kevin Schmidt
  6. HouseAdded Co-Sponsor Rep. Brandun Schweizer
  7. HouseAdded Co-Sponsor Rep. Dan Caulkins
  8. HouseAdded Co-Sponsor Rep. Martin McLaughlin
  9. CommitteeTo Revenue-Income Tax Subcommittee · House Income Tax Subcommittee
  10. CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules
  11. HouseSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 4 cosponsors: 4 Republicans.

All 4 cosponsors

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.