Bill Title: 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.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
[SB0341 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2023-02-02 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois SB0341 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois SB0341 currently on file. |
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