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