Illinois General Assembly - Bill Status for SB2656
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 Bill Status of SB2656  103rd General Assembly

Short Description:  INC TX-SMALL BUSINESS CREDIT

Senate Sponsors
Sen. Bill Cunningham, Laura Fine, Javier L. Cervantes, Cristina Castro, Laura M. Murphy and Julie A. Morrison

Last Action
DateChamber Action
  3/15/2024SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/241 new


Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/10/2024SenateFiled with Secretary by Sen. Bill Cunningham
  1/10/2024SenateFirst Reading
  1/10/2024SenateReferred to Assignments
  1/23/2024SenateAdded as Co-Sponsor Sen. Laura Fine
  1/24/2024SenateAssigned to Revenue
  3/12/2024SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
  3/14/2024SenateAdded as Co-Sponsor Sen. Cristina Castro
  3/15/2024SenateRule 3-9(a) / Re-referred to Assignments
  3/22/2024SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  3/25/2024SenateAdded as Co-Sponsor Sen. Julie A. Morrison

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