Illinois General Assembly - Bill Status for HB4071
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 Bill Status of HB4071  99th General Assembly


House Sponsors
Rep. Katherine Cloonen

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/224 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit for each small business taxpayer in an amount equal to 50%, but in no event to exceed $100,000, of the amount paid by the small business taxpayer during the taxable year to an insolvent debtor or a trustee as a result of a recapture under Section 547(b) of the federal Bankruptcy Code. Provides that the term "small business taxpayer" means a business employing no more than 200 employees. Effective immediately.

DateChamber Action
  2/27/2015HouseFiled with the Clerk by Rep. Katherine Cloonen
  2/27/2015HouseFirst Reading
  2/27/2015HouseReferred to Rules Committee
  3/16/2015HouseAssigned to Revenue & Finance Committee
  3/20/2015HouseTo Income Tax Subcommittee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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