SB0341 - INCOME TAX-SMALL BUSINESS LOAN
Illinois - 103rd General Assembly
Last updated over 1 year ago
0 Co-Sponsors
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.
STATUS
Introduced
Verifications Required
You must be a verified voter to do that.
No Thanks, I'll do it later
Verify your identity now