Illinois Senate bill in Session 104.
Status: in_committee. Latest action: June 2, 2025.
INC TX-SMALL BUSINESS CREDIT.
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.
| Date | Event | Detail |
|---|---|---|
| 2025-01-17 | Introduced | Bill introduced |
| 2025-06-02 | Status | in_committee |
| 2025-06-02 | Latest Action | 6/02/2025 - Senate: |