Illinois 93rd Regular Session Status: In Committee

SB 321 — INC TX-HEALTH CARE CREDIT

Last action — Session Sine Die

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

This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Illinois Income Tax Act. Beginning with tax years ending on or after December 31, 2003 and ending with tax years ending on or before December 31, 2007, allows small businesses to claim a tax credit in an amount equal to the amount of expenditures for health care insurance for its employees made in the year for which the credit is claimed. Provides that the credit may not reduce a taxpayer's liability to less than zero. Provides that the excess credit may be carried forward for a period of 5 years. Requires the taxpayer to keep any records required by the Department of Revenue regarding the health care expenditures for which the credit is claimed. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 3-9(a) / Re-referred to Rules

  3. To Subcommittee

  4. Assigned to Revenue

  5. Referred to Rules

  6. First Reading

  7. Filed with Secretary by Sen. Jeffrey M. Schoenberg

Sponsors

  • Jeffrey M. Schoenberg · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Jeffrey M. Schoenberg

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"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.

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Subjects

taxation healthcare health-insurance
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Frequently asked questions

What does SB 321 do?
Amends the Illinois Income Tax Act. Beginning with tax years ending on or after December 31, 2003 and ending with tax years ending on or before December 31, 2007, allows small businesses to claim a tax credit in an amount equal to the amount of expenditures for health care insurance for its employees made in the year for which the credit is claimed. Provides that the credit may not reduce a taxpayer's liability to less than zero. Provides that the excess credit may be carried forward for a period of 5 years. Requires the taxpayer to keep any records required by the Department of Revenue regarding the health care expenditures for which the credit is claimed. Effective immediately.
Who sponsors SB 321?
SB 321 is sponsored by Jeffrey M. Schoenberg.
What is the current status of SB 321?
This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 321?
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Last checked for changes 3 months ago · updated continuously

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