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HB 4190

INC TX-SMALL BUSINESS CREDIT

104th Regular Session Introduced by Marty McLaughlin

HB 4190 increases Illinois's small business tax credit to provide greater financial incentives for qualifying small enterprises, potentially stimulating economic activity and employment.

Referred to Rules Committee
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Bill Summary · HB 4190

Legislative bill overview

HB 4190 proposes to increase the small business tax credit in Illinois, expanding financial incentives for qualifying small business enterprises. The bill was recently filed and is currently in the early stages of the legislative process, having been referred to the Rules Committee after its first reading.

Why is this important

Small business tax credits directly affect business formation, retention, and growth in Illinois by reducing tax liability for eligible companies. This type of incentive can influence employment levels, economic development in different regions, and the state's overall business competitiveness compared to neighboring states.

Potential points of contention

  • Revenue impact: Increasing tax credits reduces state tax revenue, raising questions about how this cost is offset and whether the credit generates sufficient economic activity to justify the expense
  • Definition and eligibility: Disputes may arise over which businesses qualify as "small" and what criteria determine eligibility, potentially creating fairness concerns or unintended exclusions
  • Effectiveness measurement: Determining whether the increased credit actually stimulates new business activity or primarily benefits existing businesses that would succeed anyway is difficult to prove

Compiled from official sources — confirm details with the bill’s official record.

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