INC TX-SMALL BUSINESS CREDIT
Sponsored By: Martin McLaughlin (Republican)
In Committee
Summary
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 100%, but in no event more than $250,000 per taxpayer in any taxable year, of qualified business expenses paid by a qualified small business during the taxable year. 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
Referred to Rules Committee
1/14/2026HouseFirst Reading
1/14/2026HouseFiled with the Clerk by Rep. Martin McLaughlin
1/8/2026House
Bill Text
Introduced
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