Illinois Senate Bill 2293 (Prior Session Legislation)

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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]

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. Don Harmon [D]

Date	Chamber	Action
2022-12-22	Senate	Chief Sponsor Changed to Sen. Don Harmon
2021-04-16	Senate	Rule 3-9(a) / Re-referred to Assignments
2021-03-23	Senate	Assigned to Revenue
2021-02-26	Senate	Referred to Assignments
2021-02-26	Senate	First Reading
2021-02-26	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=2293&GAID=16&DocTypeID=SB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/SB/10200SB2293.htm