HB4703 - 104th General Assembly (2025-2026)
RAILROAD MOD CREDIT
Last Action
3/27/2026 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Short Line Railroad Modernization Act. Creates an income tax credit for taxpayers that incur qualified railroad expenditures or qualified new rail infrastructure expenditures. Sets forth the amount of the credit and limitations on the amount of the credit that may be awarded. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/29/2026 | House | Filed with the Clerk by Rep. Dave Vella |
| 2/06/2026 | House | First Reading |
| 2/06/2026 | House | Referred to Rules Committee |
| 2/17/2026 | House | Assigned to Revenue & Finance Committee |
| 2/26/2026 | House | To Tax Policy: Other Taxes Subcommittee |
| 3/26/2026 | House | Added Co-Sponsor Rep. William E Hauter |
| 3/27/2026 | House | Rule 19(a) / Re-referred to Rules Committee |