INC TX-SMALL BUSINESS CREDIT

What it does

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

Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500. Effective immediately.

Every action

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

1. Mar 12, 2024SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
2. Mar 14, 2024SenateAdded as Co-Sponsor Sen. Cristina Castro
3. Mar 15, 2024CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
4. Mar 22, 2024SenateAdded as Co-Sponsor Sen. Laura M. Murphy
5. Mar 25, 2024SenateAdded as Co-Sponsor Sen. Julie A. Morrison
6. May 3, 2024SenateAdded as Co-Sponsor Sen. Seth Lewis
7. Sep 30, 2024SenateAdded as Co-Sponsor Sen. Adriane Johnson
8. Jan 7, 2025SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 7 cosponsors: 6 Democrats, 1 Republican.

• Bill CunninghamD Primary sponsor · District 18