Illinois · Senate Bill 3152 · 103rd General Assembly

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SB 3152 Sponsored by Win Stoller Died in committee

  1. Introduced Feb 6, 2024
  2. In committee Feb 6, 2024
  3. Died  
  4. Passed the House  
  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 an income tax deduction for an amount of up to $50,000 per tax year contributed to a small business asset purchase account and all interest earned on such accounts during the tax year. Provides that a "small business asset purchase account" means an account established by a taxpayer, the proceeds of which are used to purchase property used primarily in Illinois for which a…

Read the full title (131 words)

Amends the Illinois Income Tax Act. Creates an income tax deduction for an amount of up to $50,000 per tax year contributed to a small business asset purchase account and all interest earned on such accounts during the tax year. Provides that a "small business asset purchase account" means an account established by a taxpayer, the proceeds of which are used to purchase property used primarily in Illinois for which a federal income tax deduction is claimed under Section 179 of the Internal Revenue Code. Provides an addition modification for amounts withdrawn from a small business asset purchase account that are not used for qualified purchases. Amends the Uniform Penalty and Interest Act to establish a penalty for improper use of moneys in a small business asset purchase account. Effective immediately.

Every action

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

Show the 5 earlier steps
  1. SenateFiled with Secretary by Sen. Win Stoller
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Revenue · Senate Revenue
  5. SenateAdded as Chief Co-Sponsor Sen. Erica Harriss
  1. SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Win Stoller
  2. CommitteeSenate Committee Amendment No. 1 Referred to Assignments · Senate Assignments
  3. CommitteeSenate Committee Amendment No. 1 Assignments Refers to Revenue · Senate Assignments
  4. SenateRule 2-10 Committee Deadline Established As April 5, 2024
  5. SenateRule 2-10 Committee Deadline Established As May 3, 2024
  6. CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
  7. CommitteeSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments · Senate Assignments
  8. SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 1 cosponsor: 1 Republican.

All 1 cosponsor

From Illinois's official records (www.ilga.gov), checked Nov 2, 2026. Text links go to the official versions; LegiList does not copy bill text.