INC TX-SMALL BUSINESS CREDIT
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 11, 2024
Last action Oct 9, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
17
Key actions
2
Committee
7
Amendments
1
Apr 5, 2024
Committee
House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
lower
Apr 5, 2024
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 20, 2024
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
lower
Mar 18, 2024
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Mar 18, 2024
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Debbie Meyers-Martin
lower
Mar 8, 2024
Lower · Passed
To Revenue-Income Tax Subcommittee
lower
Feb 28, 2024
Committee
Assigned to Revenue & Finance Committee
lower
Jan 16, 2024
Committee
Referred to Rules Committee
lower
1 primary · 7 co-sponsors
Sponsors
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