· IL legislature · 104th

INC TX-SMALL BUSINESS CREDIT

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.

Sponsor

Debbie Meyers-Martin (D-IL)

Introduced

2025-01-14

Policy area

Taxation

Latest action

Added Co-Sponsor Rep. Martin McLaughlin