2025-2026 Regular SessionIllinois Legislature

SB1877: EDGE WITHHOLDING-STEEL

Legislative Summary

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that certain taxpayers that are primarily engaged in the recycling and melting of steel products and in the manufacturing of new steel wire and rod products may elect to claim the credit under the Act against their withholding tax liability instead of their income tax liability. Effective immediately.

Demographic Impact

Overall analysis of equity impact

Neutral
Medium Confidence

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Bill History

2/6/2025
Filed with Secretary by Sen. David Koehler
Senate
2/6/2025
First Reading
Senate
2/6/2025
Referred to Assignments
Senate
2/21/2025
Added as Co-Sponsor Sen. Neil Anderson
Senate
3/5/2025
Added as Chief Co-Sponsor Sen. Sally J. Turner
Senate
3/12/2025
Assigned to Revenue
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(2/6/2025)
Chamber
Senate
Committee
Revenue(Senate)

Sponsors

Democrat: 1
Republican: 2

Primary Sponsor

David Koehler
David Koehler
Democrat

Documents

Introduced
Bill Text2/6/202539.8 KB