Illinois Senate Bill 1803 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

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.

INCOME TAX-SMALL BUSINESS LOAN

Sen. Scott Bennett [D]

Sen. Dale Fowler [R]

Sen. Paul Schimpf [R]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2020-05-15	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2020
2020-05-07	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 29, 2020
2020-05-07	Senate	Rule 2-10 Committee Deadline Established As May 22, 2020
2020-04-30	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 22, 2020
2020-04-30	Senate	Rule 2-10 Committee Deadline Established As May 15, 2020
2020-04-23	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 15, 2020
2020-04-23	Senate	Rule 2-10 Committee Deadline Established As May 7, 2020
2020-04-16	Senate	Rule 2-10 Committee Deadline Established As April 30, 2020
2020-04-12	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2020-03-25	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 7, 2020
2020-03-25	Senate	Rule 2-10 Committee Deadline Established As April 24, 2020
2020-03-18	Senate	Rule 2-10 Committee Deadline Established As April 2, 2020
2020-03-04	Senate	To Subcommittee on Tax Exemptions and Credits
2020-02-25	Senate	Assigned to Revenue
2019-04-11	Senate	Added as Chief Co-Sponsor Sen. Dale Fowler
2019-04-10	Senate	Added as Co-Sponsor Sen. Paul Schimpf
2019-02-15	Senate	Referred to Assignments
2019-02-15	Senate	First Reading
2019-02-15	Senate	Filed with Secretary by Sen. Scott M. Bennett

Chapter	Article	Section	Citation Type	Statute Text
35	5	201	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1803&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB1803.htm