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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.
Introduced
Jan 17, 2025
Last Action
Jun 2, 2025
Session
IL 104th
Sponsors
1 primary · 10 co
Rule 3-9(a) / Re-referred to Assignments
Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
Added as Co-Sponsor Sen. Erica Harriss
Rule 2-10 Committee Deadline Established As May 9, 2025
Rule 2-10 Committee Deadline Established As April 11, 2025
Added as Co-Sponsor Sen. Laura M. Murphy
Added as Co-Sponsor Sen. Mattie Hunter
Added as Co-Sponsor Sen. Seth Lewis
Added as Co-Sponsor Sen. Laura Fine
Added as Co-Sponsor Sen. Julie A. Morrison
Added as Co-Sponsor Sen. Willie Preston
Added as Co-Sponsor Sen. Cristina Castro
Added as Co-Sponsor Sen. Adriane Johnson
Added as Co-Sponsor Sen. Javier L. Cervantes
Assigned to Revenue
Filed with Secretary by Sen. Bill Cunningham
Referred to Assignments
First Reading
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 3-9(a) / Re-referred to Assignments
Julie A. Morrison
Laura M. Murphy
Javier L. Cervantes