Illinois 104th General Assembly Status: Introduced Bipartisan · 3 D · 1 R cosponsors

HB1361      — INC TX-SMALL BUSINESS CREDIT

Last action — Added Co-Sponsor Rep. Martin McLaughlin

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the House. Introduced January 14, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 30% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 4 sponsors

    1 primary, 3 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (3 D · 1 R) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read HB1361 on the official Illinois source →

Action History

  1. Added Co-Sponsor Rep. Martin McLaughlin

  2. Rule 19(a) / Re-referred to Rules Committee

  3. Added Co-Sponsor Rep. Kevin John Olickal

  4. Added Co-Sponsor Rep. Lindsey LaPointe

  5. To Income Tax Subcommittee

  6. Assigned to Revenue & Finance Committee

  7. Referred to Rules Committee

  8. First Reading

  9. Filed with the Clerk by Rep. Debbie Meyers-Martin

Sponsors

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 179 not signed on

Sponsors (1)

Co-sponsors (3)

Not signed on (179)

179 members have not signed on to this bill.

Show all 179 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB1361      do?
Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500. Effective immediately.
Who sponsors HB1361     ?
HB1361      is sponsored by Debbie Meyers-Martin (Democrat), Lindsey LaPointe (Democrat), Kevin John Olickal (Democrat), and Martin McLaughlin (Republican).
What is the current status of HB1361     ?
This bill has been introduced in the House. Introduced January 14, 2025. It must pass committee before a floor vote.
Where can I track HB1361     ?
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Last checked for changes 3 months ago · updated continuously

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