IL SB2293 | 2021-2022 | 102nd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 26 2021 - 25% progression, died in committee
Action: 2022-12-22 - Chief Sponsor Changed to Sen. Don Harmon
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Creates a credit for financial institutions with less than $50,000,000,000 in assets in an amount equal to the aggregate amount of all fees, penalties, and any other income derived during the taxable year from each commercial loan transaction that is (i) less than $5,000,000, (ii) originated by the financial institution, (iii) made to a person residing or located in this State, and (iv) made primarily for a business or agricultural project in this State. Effective immediately.

Tracking Information

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Title

INCOME TAX-SMALL BUSINESS LOAN

Sponsors


History

DateChamberAction
2022-12-22SenateChief Sponsor Changed to Sen. Don Harmon
2021-04-16SenateRule 3-9(a) / Re-referred to Assignments
2021-03-23SenateAssigned to Revenue
2021-02-26SenateReferred to Assignments
2021-02-26SenateFirst Reading
2021-02-26SenateFiled with Secretary by Sen. Scott M. Bennett

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355201Amended CodeCitation Text

Illinois State Sources


Bill Comments

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