HB4190 - 104th General Assembly (2025-2026)

INC TX-SMALL BUSINESS CREDIT
Last Action
10/29/2025 - House: Referred to Rules Committee
Statutes Amended In Order of Appearance
35 ILCS 5/246 new  
Synopsis As Introduced
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.
Actions
DateChamberAction
10/28/2025HouseFiled with the Clerk by Rep. Martin McLaughlin
10/29/2025HouseFirst Reading
10/29/2025HouseReferred to Rules Committee