IL HB1093 | 2025-2026 | 104th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 9 2025 - 25% progression
Action: 2025-01-09 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 9 2025 - 25% progression
Action: 2025-01-09 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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.
Title
INC TX-NEW BUSINESSES
Sponsors
| Rep. Jed Davis [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-09 | House | Referred to Rules Committee |
| 2025-01-09 | House | First Reading |
| 2025-01-03 | House | Prefiled with Clerk by Rep. Jed Davis |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 203 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1093&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| Text | https://www.ilga.gov/legislation/104/HB/10400HB1093.htm |
