INC TX-SMALL BUSINESS CREDIT
Sponsored By: Bill Cunningham (Democratic)
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
Bill Cunningham
Democratic • Senate
Cosponsors
Adriane Johnson
Democratic • Senate
Cristina Castro
Democratic • Senate
Erica Harriss
Republican • Senate
Javier L. Cervantes
Democratic • Senate
Julie A. Morrison
Democratic • Senate
Laura Fine
Democratic • Senate
Laura M. Murphy
Democratic • Senate
Mattie Hunter
Democratic • Senate
Seth Lewis
Republican • Senate
Willie Preston
Democratic • Senate
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Rule 3-9(a) / Re-referred to Assignments
6/2/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
5/23/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
5/9/2025SenateAdded as Co-Sponsor Sen. Erica Harriss
5/7/2025SenateRule 2-10 Committee Deadline Established As May 9, 2025
4/11/2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
3/21/2025SenateAdded as Co-Sponsor Sen. Laura M. Murphy
3/20/2025SenateAdded as Co-Sponsor Sen. Mattie Hunter
2/21/2025SenateAdded as Co-Sponsor Sen. Laura Fine
2/18/2025SenateAdded as Co-Sponsor Sen. Seth Lewis
2/18/2025SenateAdded as Co-Sponsor Sen. Julie A. Morrison
2/13/2025SenateAdded as Co-Sponsor Sen. Willie Preston
2/13/2025SenateAdded as Co-Sponsor Sen. Cristina Castro
2/13/2025SenateAdded as Co-Sponsor Sen. Adriane Johnson
2/11/2025SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
2/11/2025SenateAssigned to Revenue
1/28/2025SenateReferred to Assignments
1/17/2025SenateFirst Reading
1/17/2025SenateFiled with Secretary by Sen. Bill Cunningham
1/17/2025Senate
Bill Text
Introduced
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