Illinois 104th General Assembly Status: Introduced 1 R cosponsors

HB4350      — INC TX-SMALL BUSINESS CREDIT

Last action — Referred to Rules Committee

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  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 08, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 100%, but in no event more than $250,000 per taxpayer in any taxable year, of qualified business expenses paid by a qualified small business during the taxable year. Effective immediately.

Bill Text

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

Read HB4350 on the official Illinois source →

Action History

  1. Referred to Rules Committee

  2. First Reading

  3. Filed with the Clerk by Rep. Martin McLaughlin

Sponsors

Sponsorship breakdown

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

Sponsors (1)

Co-sponsors (0)

None.

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.

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 HB4350      do?
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 100%, but in no event more than $250,000 per taxpayer in any taxable year, of qualified business expenses paid by a qualified small business during the taxable year. Effective immediately.
Who sponsors HB4350     ?
HB4350      is sponsored by Martin McLaughlin (Republican).
What is the current status of HB4350     ?
This bill has been introduced in the House. Introduced January 08, 2026. It must pass committee before a floor vote.
Where can I track HB4350     ?
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Last checked for changes 4 months ago · updated continuously

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