2025-2026 Regular Session • Illinois Legislature
SB0146: INC TX-SMALL BUSINESS CREDIT
Legislative Summary
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.
Demographic Impact
Overall analysis of equity impact
60% Positive
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Bill History
1/17/2025
Filed with Secretary by Sen. Bill Cunningham
Senate
1/17/2025
First Reading
Senate
1/17/2025
Referred to Assignments
Senate
1/28/2025
Assigned to Revenue
Senate
2/11/2025
Added as Co-Sponsor Sen. Javier L. Cervantes
Senate
2/11/2025
Added as Co-Sponsor Sen. Adriane Johnson
Senate
2/13/2025
Added as Co-Sponsor Sen. Cristina Castro
Senate
2/13/2025
Added as Co-Sponsor Sen. Willie Preston
Senate
2/13/2025
Added as Co-Sponsor Sen. Julie A. Morrison
Senate
2/18/2025
Added as Co-Sponsor Sen. Seth Lewis
Senate
2/18/2025
Added as Co-Sponsor Sen. Laura Fine
Senate
2/21/2025
Added as Co-Sponsor Sen. Mattie Hunter
Senate
3/20/2025
Added as Co-Sponsor Sen. Laura M. Murphy
Senate
3/21/2025
Rule 2-10 Committee Deadline Established As April 11, 2025
Senate
4/11/2025
Rule 2-10 Committee Deadline Established As May 9, 2025
Senate
Status Information
Current Status
Introduced(1/17/2025)
Chamber
Senate
Committee
Revenue(Senate)
