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 2025
Committee Review
Floor Vote
Governor
Introduced Jan 17, 2025
Last action Jun 2, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
19
Key actions
2
Committee
5
Jun 2, 2025
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Apr 11, 2025
Upper · Passed
Rule 2-10 Committee Deadline Established As May 9, 2025
upper
Mar 21, 2025
Upper · Passed
Rule 2-10 Committee Deadline Established As April 11, 2025
upper
Jan 28, 2025
Committee
Assigned to Revenue
upper
Jan 17, 2025
Committee
Referred to Assignments
upper
1 primary · 9 co-sponsors
Sponsors
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