SB1505 - 104th General Assembly (2025-2026)
SMALL BUSINESS TAX CREDIT
Last Action
6/02/2025 - Senate: Rule 3-9(a) / Re-referred to Assignments
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Small Business Job Creation Tax Credit Act. Renews the program for incentive periods beginning on or after July 1, 2025 and ending on or before June 30, 2032. Removes language concerning the Put Illinois to Work Program for the second series of incentive periods. Provides that the term "full-time employee" means an individual who is employed for a basic wage for at least 35 hours each week (currently, employed for a basic wage for at least 35 hours each week or renders any other standard of service generally accepted by industry custom or practice as full-time employment). Provides that a net increase in the number of full-time Illinois employees shall be treated as continuous if a different new employee is hired as a replacement within 8 weeks after the position becomes vacant (currently, a reasonable time). Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/04/2025 | Senate | Filed with Secretary by Sen. Willie Preston |
| 2/04/2025 | Senate | First Reading |
| 2/04/2025 | Senate | Referred to Assignments |
| 2/11/2025 | Senate | Assigned to Revenue |
| 2/14/2025 | Senate | Added as Co-Sponsor Sen. Adriane Johnson |
| 2/21/2025 | Senate | Added as Co-Sponsor Sen. Mattie Hunter |
| 2/24/2025 | Senate | Added as Co-Sponsor Sen. Laura Fine |
| 3/05/2025 | Senate | Added as Co-Sponsor Sen. Bill Cunningham |
| 3/20/2025 | Senate | Added as Co-Sponsor Sen. Laura M. Murphy |
| 3/21/2025 | Senate | Rule 2-10 Committee Deadline Established As April 11, 2025 |
| 4/11/2025 | Senate | Rule 2-10 Committee Deadline Established As May 9, 2025 |
| 4/24/2025 | Senate | Added as Co-Sponsor Sen. Robert Peters |
| 4/30/2025 | Senate | Added as Co-Sponsor Sen. Mike Simmons |
| 5/02/2025 | Senate | Added as Co-Sponsor Sen. Christopher Belt |
| 5/06/2025 | Senate | Added as Co-Sponsor Sen. Mary Edly-Allen |
| 5/08/2025 | Senate | Added as Co-Sponsor Sen. Mike Porfirio |
| 5/08/2025 | Senate | Added as Co-Sponsor Sen. Chris Balkema |
| 5/08/2025 | Senate | Added as Co-Sponsor Sen. Sara Feigenholtz |
| 5/08/2025 | Senate | Added as Co-Sponsor Sen. Cristina Castro |
| 5/09/2025 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 |
| 5/14/2025 | Senate | Added as Co-Sponsor Sen. Craig Wilcox |
| 5/23/2025 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 |
| 6/02/2025 | Senate | Rule 3-9(a) / Re-referred to Assignments |