Bill Status of HB2331  103rd General Assembly

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Short Description:  INCOME TAX-SMALL BUSINESS LOAN

House Sponsors
Rep. Marcus C. Evans, Jr.

Last Action

Date	Chamber	Action
3/10/2023	House	Rule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance

35 ILCS 5/234 new

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 

Date	Chamber	Action
2/14/2023	House	Filed with the Clerk by Rep. Marcus C. Evans, Jr.
2/14/2023	House	First Reading
2/14/2023	House	Referred to Rules Committee
2/28/2023	House	Assigned to Revenue & Finance Committee
3/9/2023	House	To Revenue-Income Tax Subcommittee
3/10/2023	House	Rule 19(a) / Re-referred to Rules Committee