Illinois SB 1505: SMALL BUSINESS TAX CREDIT

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Small Business Job Creation Tax Credit Act. Renews the program for incentive periods beginning on or after July 1, 2025 and ending on or before June 30, 2032. Removes language concerning the Put Illinois to Work Program for the second series of incentive periods. Provides that the term "full-time employee" means an individual who is employed for a basic wage for at least 35 hours each week (currently…

Read the full title (140 words)

Amends the Small Business Job Creation Tax Credit Act. Renews the program for incentive periods beginning on or after July 1, 2025 and ending on or before June 30, 2032. Removes language concerning the Put Illinois to Work Program for the second series of incentive periods. Provides that the term "full-time employee" means an individual who is employed for a basic wage for at least 35 hours each week (currently, employed for a basic wage for at least 35 hours each week or renders any other standard of service generally accepted by industry custom or practice as full-time employment). Provides that a net increase in the number of full-time Illinois employees shall be treated as continuous if a different new employee is hired as a replacement within 8 weeks after the position becomes vacant (currently, a reasonable time). Effective immediately.

Every action

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

Show the 29 earlier steps

Feb 4, 2025SenateFiled with Secretary by Sen. Willie Preston
Feb 4, 2025SenateFirst Reading
Feb 4, 2025CommitteeReferred to Assignments · Senate Assignments
Feb 11, 2025CommitteeAssigned to Revenue · Senate Revenue
Feb 14, 2025SenateAdded as Co-Sponsor Sen. Adriane L. Johnson
Feb 21, 2025SenateAdded as Co-Sponsor Sen. Mattie Hunter
Feb 24, 2025SenateAdded as Co-Sponsor Sen. Laura Fine
Mar 5, 2025SenateAdded as Co-Sponsor Sen. Bill Cunningham
Mar 20, 2025SenateAdded as Co-Sponsor Sen. Laura M. Murphy
Mar 21, 2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
Apr 11, 2025SenateRule 2-10 Committee Deadline Established As May 9, 2025
Apr 24, 2025SenateAdded as Co-Sponsor Sen. Robert Peters
Apr 30, 2025SenateAdded as Co-Sponsor Sen. Mike Simmons
May 2, 2025SenateAdded as Co-Sponsor Sen. Christopher Belt
May 6, 2025SenateAdded as Co-Sponsor Sen. Mary Edly-Allen
May 8, 2025SenateAdded as Co-Sponsor Sen. Mike Porfirio
May 8, 2025SenateAdded as Co-Sponsor Sen. Chris Balkema
May 8, 2025SenateAdded as Co-Sponsor Sen. Sara Feigenholtz
May 8, 2025SenateAdded as Co-Sponsor Sen. Cristina Castro
May 9, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
May 14, 2025SenateAdded as Co-Sponsor Sen. Craig Wilcox
May 23, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
Jun 2, 2025CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
Mar 23, 2026SenateAdded as Co-Sponsor Sen. Darby A. Hills
Mar 25, 2026SenateAdded as Co-Sponsor Sen. Emil Jones, III
Apr 15, 2026SenateAdded as Co-Sponsor Sen. Erica Harriss
Apr 15, 2026SenateAdded as Chief Co-Sponsor Sen. Jil Tracy
Apr 15, 2026SenateAdded as Co-Sponsor Sen. Sally J. Turner
Apr 22, 2026SenateRule 2-10 Committee Deadline Established As April 24, 2026

Apr 22, 2026CommitteeRe-assigned to Revenue · Senate Revenue
Apr 24, 2026SenateRule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026
Apr 30, 2026SenateAdded as Co-Sponsor Sen. Paul Faraci
May 1, 2026SenateAdded as Co-Sponsor Sen. Seth Lewis
May 6, 2026SenateAdded as Co-Sponsor Sen. Suzy Glowiak Hilton
May 15, 2026SenateRule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026
May 22, 2026CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
May 28, 2026SenateAdded as Co-Sponsor Sen. Ram Villivalam

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What it does

Every action

Roll calls

Sponsors