Illinois General Assembly - Bill Status for HB5641

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Bill Status of HB5641 101st General Assembly

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Short Description: INCOME TAX-SMALL BUSINESS LOAN

House Sponsors
Rep. Sonya M. Harper

Last Action

Date	Chamber	Action
1/13/2021	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/201

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit for financial institutions in an amount equal to the aggregate amount of all fees, penalties, and any other income derived during the taxable year from each commercial loan transaction that is (i) originated by the financial institution, (ii) made to a person residing or located in this State, and (iii) made primarily for an agricultural project in this State. Effective immediately.

Actions

Date	Chamber	Action
2/14/2020	House	Filed with the Clerk by Rep. Sonya M. Harper
2/18/2020	House	First Reading
2/18/2020	House	Referred to Rules Committee
1/13/2021	House	Session Sine Die

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