IL HB3234 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules 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
2019-03-29HouseRule 19(a) / Re-referred to Rules Committee
2019-03-14HouseTo Income Tax Subcommittee
2019-03-05HouseAssigned to Revenue & Finance Committee
2019-02-15HouseReferred to Rules Committee
2019-02-15HouseFirst Reading
2019-02-15HouseFiled with the Clerk by Rep. Marcus C. Evans, Jr.

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355201Amended CodeCitation Text

Illinois State Sources


Bill Comments

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