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

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

1. Feb 21, 2025SenateAdded as Co-Sponsor Sen. Mattie Hunter
2. Mar 20, 2025SenateAdded as Co-Sponsor Sen. Laura M. Murphy
3. Mar 21, 2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
4. Apr 11, 2025SenateRule 2-10 Committee Deadline Established As May 9, 2025
5. May 7, 2025SenateAdded as Co-Sponsor Sen. Erica Harriss
6. May 9, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
7. May 23, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
8. Jun 2, 2025CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 10 cosponsors: 8 Democrats, 2 Republicans.

• Bill CunninghamD Primary sponsor · District 18