INC TX-SMALL BUSINESS CREDIT Senate SponsorsSen. Bill Cunningham, Javier L. Cervantes, Adriane Johnson, Cristina Castro, Willie Preston, Julie A. Morrison, Seth Lewis, Laura Fine, Mattie Hunter, Laura M. Murphy and Erica Harriss 6/2/2025SenateRule 3-9(a) / Re-referred to Assignments 35 ILCS 5/246 newAmends 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. 1/17/2025SenateFiled with Secretary by Sen. Bill Cunningham 1/17/2025SenateFirst Reading 1/17/2025SenateReferred to Assignments 1/28/2025SenateAssigned to Revenue 2/11/2025SenateAdded as Co-Sponsor Sen. Javier L. Cervantes 2/11/2025SenateAdded as Co-Sponsor Sen. Adriane Johnson 2/13/2025SenateAdded as Co-Sponsor Sen. Cristina Castro 2/13/2025SenateAdded as Co-Sponsor Sen. Willie Preston 2/13/2025SenateAdded as Co-Sponsor Sen. Julie A. Morrison 2/18/2025SenateAdded as Co-Sponsor Sen. Seth Lewis 2/18/2025SenateAdded as Co-Sponsor Sen. Laura Fine 2/21/2025SenateAdded as Co-Sponsor Sen. Mattie Hunter 3/20/2025SenateAdded as Co-Sponsor Sen. Laura M. Murphy 3/21/2025SenateRule 2-10 Committee Deadline Established As April 11, 2025 4/11/2025SenateRule 2-10 Committee Deadline Established As May 9, 2025 5/7/2025SenateAdded as Co-Sponsor Sen. Erica Harriss 5/9/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 5/23/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 6/2/2025SenateRule 3-9(a) / Re-referred to Assignments