IllinoisHB4190104th General Assembly (2025–2026)House

INC TX-SMALL BUSINESS CREDIT

Sponsored By: Martin McLaughlin

In Committee

Summary

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.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Martin McLaughlin

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  2. Assigned to Revenue & Finance Committee

    3/4/2026House
  3. Referred to Rules Committee

    10/29/2025House
  4. First Reading

    10/29/2025House
  5. Filed with the Clerk by Rep. Martin McLaughlin

    10/28/2025House

Bill Text

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