Illinois - Session 104
Title: INCOME TAX-SMALL BUSINESS LOAN
Amends the Illinois Income Tax Act. Creates a credit for financial institutions with less than $50,000,000,000 in assets in an amount equal to the aggregate amount of all fees, penalties, and any other income derived during the taxable year from each commercial loan transaction that is (i) less than $5,000,000, (ii) originated by the financial institution, (iii) made to a person residing or located in this State, and (iv) made primarily for a business or agricultural project in this State. Effective immediately.
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| Date | Event | Detail |
|---|---|---|
| 2025-02-07 | Introduced | Bill introduced |
| 2025-06-02 | Status | in_committee |
| 2025-06-02 | Latest Action | 6/02/2025 - Senate: |
| Bill | Title | Status |
|---|---|---|
| HB 1143 | ILLINOIS CURE ACT | in_committee |
| HB 1146 | PLASTIC BAG REDUCTION | in_committee |
| HB 1198 | GUARDIAN-ADULT W/ DISABILITIES | in_committee |
| HB 1252 | INS-MOTOR VEHICLE RATES | in_committee |
| HB 1323 | BOND AUTH-NO ROLLOVER | in_committee |
| HB 1420 | COUNTY WIND/SOLAR FACILITIES | in_committee |
| HB 1427 | ALGORITHMICS PROHIBITED-RENT | in_committee |
| HB 1775 | BLACK WALL STREET PROGRAM | in_committee |