INCOME TAX-SMALL BUSINESS LOAN Senate SponsorsSen. Scott M. Bennett and Paul Schimpf-Dale Fowler 1/13/2021SenateSession Sine Die 35 ILCS 5/201from Ch. 120, par. 2-201Amends 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. 2/15/2019SenateFiled with Secretary by Sen. Scott M. Bennett 2/15/2019SenateFirst Reading 2/15/2019SenateReferred to Assignments 4/10/2019SenateAdded as Co-Sponsor Sen. Paul Schimpf 4/11/2019SenateAdded as Chief Co-Sponsor Sen. Dale Fowler 2/25/2020SenateAssigned to Revenue 3/4/2020SenateTo Subcommittee on Tax Exemptions and Credits 3/18/2020SenateRule 2-10 Committee Deadline Established As April 2, 2020 3/25/2020SenateRule 2-10 Committee Deadline Established As April 24, 2020 3/25/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 7, 2020 4/12/2020SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments 4/16/2020SenateRule 2-10 Committee Deadline Established As April 30, 2020 4/23/2020SenateRule 2-10 Committee Deadline Established As May 7, 2020 4/23/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 15, 2020 4/30/2020SenateRule 2-10 Committee Deadline Established As May 15, 2020 4/30/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 22, 2020 5/7/2020SenateRule 2-10 Committee Deadline Established As May 22, 2020 5/7/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 29, 2020 5/15/2020SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2020 1/13/2021SenateSession Sine Die