Illinois General Assembly - Bill Status for HB1959
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 Bill Status of HB1959  102nd General Assembly


Short Description:  INCOME TAX-SMALL BUSINESS LOAN

House Sponsors
Rep. Marcus C. Evans, Jr.

Last Action
DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/16/2021HouseFiled with the Clerk by Rep. Marcus C. Evans, Jr.
  2/17/2021HouseFirst Reading
  2/17/2021HouseReferred to Rules Committee
  3/9/2021HouseAssigned to Revenue & Finance Committee
  3/18/2021HouseTo Income Tax Subcommittee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2023HouseSession Sine Die

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