Bill Status of SB0146  104th General Assembly

Short Description:  INC TX-SMALL BUSINESS CREDIT

Senate Sponsors
Sen. Bill Cunningham, Javier L. Cervantes, Adriane Johnson, Cristina Castro, Willie Preston, Julie A. Morrison, Seth Lewis, Laura Fine, Mattie Hunter and Laura M. Murphy

Last Action
DateChamber Action
  1/28/2025SenateAssigned to Revenue

Statutes Amended In Order of Appearance
35 ILCS 5/246 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
  1/17/2025SenateFiled with Secretary by Sen. Bill Cunningham
  1/17/2025SenateFirst Reading
  1/17/2025SenateReferred to Assignments
  1/28/2025SenateAssigned to Revenue
  2/11/2025SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
  2/11/2025SenateAdded as Co-Sponsor Sen. Adriane Johnson
  2/13/2025SenateAdded as Co-Sponsor Sen. Cristina Castro
  2/13/2025SenateAdded as Co-Sponsor Sen. Willie Preston
  2/13/2025SenateAdded as Co-Sponsor Sen. Julie A. Morrison
  2/18/2025SenateAdded as Co-Sponsor Sen. Seth Lewis
  2/18/2025SenateAdded as Co-Sponsor Sen. Laura Fine
  2/21/2025SenateAdded as Co-Sponsor Sen. Mattie Hunter
  3/20/2025SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  3/21/2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
  4/11/2025SenateRule 2-10 Committee Deadline Established As May 9, 2025