IllinoisHB4350104th General Assembly (2025–2026)House

INC TX-SMALL BUSINESS CREDIT

Sponsored By: Martin McLaughlin

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

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Referred to Rules Committee

    1/14/2026House
  2. First Reading

    1/14/2026House
  3. Filed with the Clerk by Rep. Martin McLaughlin

    1/8/2026House

Bill Text

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