Bill Status of SB 2656   103rd General Assembly

Short Description:  INC TX-SMALL BUSINESS CREDIT

Senate Sponsors
Sen. Bill Cunningham, Laura Fine, Javier L. Cervantes, Cristina Castro, Laura M. Murphy, Julie A. Morrison, Seth Lewis and Adriane Johnson

Last Action  View All Actions

DateChamber Action
  1/7/2025SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/241 new

Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/10/2024SenateFiled with Secretary by Sen. Bill Cunningham
  1/10/2024SenateFirst Reading
  1/10/2024SenateReferred to Assignments
  1/23/2024SenateAdded as Co-Sponsor Sen. Laura Fine
  1/24/2024SenateAssigned to Revenue
  3/12/2024SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
  3/14/2024SenateAdded as Co-Sponsor Sen. Cristina Castro
  3/15/2024SenateRule 3-9(a) / Re-referred to Assignments
  3/22/2024SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  3/25/2024SenateAdded as Co-Sponsor Sen. Julie A. Morrison
  5/3/2024SenateAdded as Co-Sponsor Sen. Seth Lewis
  9/30/2024SenateAdded as Co-Sponsor Sen. Adriane Johnson
  1/7/2025SenateSession Sine Die

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