Bill Status of HB 1093   104th General Assembly

Short Description:  INC TX-NEW BUSINESSES

House Sponsors
Rep. Jed Davis

Last Action  View All Actions

DateChamber Action
  1/9/2025HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/203

Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/3/2025HousePrefiled with Clerk by Rep. Jed Davis
  1/9/2025HouseFirst Reading
  1/9/2025HouseReferred to Rules Committee

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