HB 4350

Illinois House of Representatives bill in Session 104.

Status: in_committee. Latest action: January 14, 2026.

INC TX-SMALL BUSINESS CREDIT.

Bill ID IL-104-HB-4350
Session 104
Status in_committee
Committee Rules Committee
House of Representatives in_committee 2026-01-14
Business / Commerce Tax / Budget / Appropriations
Summary

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 100%, but in no event more than $250,000 per taxpayer in any taxable year, of qualified business expenses paid by a qualified small business during the taxable year. Effective immediately.

Sponsor
Martin McLaughlin
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-01-14 Introduced Bill introduced
2026-01-14 Status in_committee
2026-01-14 Latest Action 1/14/2026 - House:
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