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IL HB5125

Bill

Official Source

Status

Introduced

2/5/2026

Primary Sponsor

Lindsey LaPointe

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Eliminates tax credits for high impact businesses and construction jobs credits effective upon the Act's passage
  • Modifies the business interest deduction under the Illinois Income Tax Act
  • Creates a new addition modification requiring taxpayers to add back federal deductions for domestic research or experimental expenditures
  • Changes tax incentives for biodiesel, renewable diesel, and biodiesel blends under multiple tax acts including the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act
  • Amends the Enterprise Zone Act to specify that certain high impact business designations can be renewed for terms up to 20 years

Legislative Description

REVENUE-CREDITS-DEDUCTIONS

Last Action

Assigned to Revenue & Finance Committee

3/4/2026

Committee Referrals

Revenue & Finance3/4/2026
Rules2/10/2026

Full Bill Text

No bill text available