Senate Sponsors: NOLAND. Short description: INC TAX CREDT-SMALL BUSINESSES Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that for taxable years 2000 and thereafter, each taxpayer is entitled to an income tax credit in an amount equal to any amount paid to the United States Small Business Administration as a guaranty fee in order to obtain Small Business Administration guaranteed financing. Provides that the credit may not reduce the taxpayer's liability to less than zero and that any excess may not be carried forward to apply to the taxpayer's liability for the succeeding year. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status