HB4703Introduced in the House
RAILROAD MOD CREDIT
Introduced by Dave Vella, District 68
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Creates the Short Line Railroad Modernization Act. Creates an income tax credit for taxpayers that incur qualified railroad expenditures or qualified new rail infrastructure expenditures. Sets forth the amount of the credit and limitations on the amount of the credit that may be awarded. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.
Where it stands
Added Co-Sponsor Rep. Amy Elik
May 20, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
Bill history
Filed with the Clerk by Rep. Dave Vella
First Reading
Referred to Rules Committee
Assigned to Revenue & Finance Committee
To Tax Policy: Other Taxes Subcommittee
Added Co-Sponsor Rep. William E Hauter
Rule 19(a) / Re-referred to Rules Committee
Added Co-Sponsor Rep. Amy Elik
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