· IL legislature · 104th

INC TX-SMALL BUSINESS CREDIT

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 100%, but in no event more than $250,000 per taxpayer in any taxable year, of qualified business expenses paid by a qualified small business during the taxable year. Effective immediately.

Sponsor

Marty McLaughlin (R-IL)

Introduced

2026-01-08

Policy area

Taxation

Latest action

Referred to Rules Committee