INC TX-BANKRUPTCY RECAPTURE House SponsorsRep. Katherine Cloonen 1/10/2017HouseSession Sine Die 35 ILCS 5/224 new Amends the Illinois Income Tax Act. Creates a credit for each small business taxpayer in an amount equal to 50%, but in no event to exceed $100,000, of the amount paid by the small business taxpayer during the taxable year to an insolvent debtor or a trustee as a result of a recapture under Section 547(b) of the federal Bankruptcy Code. Provides that the term "small business taxpayer" means a business employing no more than 200 employees. Effective immediately. 2/27/2015HouseFiled with the Clerk by Rep. Katherine Cloonen 2/27/2015HouseFirst Reading 2/27/2015HouseReferred to Rules Committee 3/16/2015HouseAssigned to Revenue & Finance Committee 3/20/2015HouseTo Income Tax Subcommittee 3/27/2015HouseRule 19(a) / Re-referred to Rules Committee 1/10/2017HouseSession Sine Die