INCOME TAX-SMALL BUSINESS LOAN Senate SponsorsSen. Paul Faraci 1/7/2025SenateSession Sine Die 35 ILCS 5/234 newAmends 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) originated by the financial institution, (iii) made to a person residing or located in this State, and (iv) made primarily for a business or agricultural project in this State. Effective immediately. 2/2/2023SenateFiled with Secretary by Sen. Paul Faraci 2/2/2023SenateFirst Reading 2/2/2023SenateReferred to Assignments 2/7/2023SenateAssigned to Revenue 3/10/2023SenateRule 3-9(a) / Re-referred to Assignments 1/7/2025SenateSession Sine Die