92nd General Assembly
Summary of HB2474
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House Sponsors:
LEITCH.

Short description: 
INC TX-SMALL BUSNSS-FARM CREDT                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that,  for  taxable      
   years ending on or after December 31, 2001 and on or before December        
   30, 2006, every small business operating within Illinois is entitled        
   to claim an income tax credit for any amount paid to the United States      
   Small Business Administration as a required fee pursuant to the             
   obtaining of Small Business Administration guaranteed financing.            
   Provides that, for taxable years ending on or after December 31, 2001       
   and on or before December 30, 2006, every individual taxpayer is            
   entitled to claim an income tax credit for any amount paid as a             
   required fee to obtain a guaranteed loan under the rural development        
   loan program or the farm service loan program administered by the           
   United States Department of Agriculture. Provides that both credits         
   may be carried forward for 4 taxable years. Effective immediately.          
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status