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

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

1. Oct 28, 2025HouseFiled with the Clerk by Rep. Martin McLaughlin
2. Oct 29, 2025HouseFirst Reading
3. Oct 29, 2025CommitteeReferred to Rules Committee · House Rules
4. Mar 4, 2026CommitteeAssigned to Revenue & Finance Committee · House Revenue & Finance
5. Mar 27, 2026CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

• Martin McLaughlinR Primary sponsor · District 52