Bill Title: Amends the Illinois Income Tax Act. Creates a deduction for 100% of the income of a qualified new business. Provides that the term "qualified new business' means a business that has its principal place of business in the State and first begins operating in the State during the taxable year. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2025-02-04 - Assigned to Revenue & Finance Committee [HB1093 Detail]

Text: Latest bill text (Introduced) [HTML]

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