· IL legislature · 104th

INCOME TAX-SMALL BUSINESS LOAN

Amends the Illinois Income Tax Act. Creates a credit for financial institutions with less than $50,000,000,000 in assets in an amount equal to the aggregate amount of all fees, penalties, and any other income derived during the taxable year from each commercial loan transaction that is (i) less than $5,000,000, (ii)…

Sponsor

Paul Faraci (D-IL)

Introduced

2025-02-07

Policy area

Taxation

Latest action

Rule 3-9(a) / Re-referred to Assignments