INC TX-SMALL BUSINESS CREDIT
Sponsored By: Martin McLaughlin (Republican)
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.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Martin McLaughlin
Republican • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Rule 19(a) / Re-referred to Rules Committee
3/27/2026HouseAssigned to Revenue & Finance Committee
3/4/2026HouseReferred to Rules Committee
10/29/2025HouseFirst Reading
10/29/2025HouseFiled with the Clerk by Rep. Martin McLaughlin
10/28/2025House
Bill Text
Introduced
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