SB1505Introduced in the Senate
SMALL BUSINESS TAX CREDIT
Introduced by Willie Preston, District 16
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
Amends the Small Business Job Creation Tax Credit Act. Renews the program for incentive periods beginning on or after July 1, 2025 and ending on or before June 30, 2032. Removes language concerning the Put Illinois to Work Program for the second series of incentive periods. Provides that the term "full-time employee" means an individual who is employed for a basic wage for at least 35 hours each week (currently, employed for a basic wage for at least 35 hours each week or renders any other standard of service generally accepted by industry custom or practice as full-time employment). Provides that a net increase in the number of full-time Illinois employees shall be treated as continuous if a different new employee is hired as a replacement within 8 weeks after the position becomes vacant (currently, a reasonable time). Effective immediately.
Where it stands
Added as Co-Sponsor Sen. Ram Villivalam
May 28, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
Bill history
Filed with Secretary by Sen. Willie Preston
First Reading
Referred to Assignments
Assigned to Revenue
Added as Co-Sponsor Sen. Adriane L. Johnson
Added as Co-Sponsor Sen. Mattie Hunter
Added as Co-Sponsor Sen. Laura Fine
Added as Co-Sponsor Sen. Bill Cunningham
Added as Co-Sponsor Sen. Laura M. Murphy
Rule 2-10 Committee Deadline Established As April 11, 2025
Rule 2-10 Committee Deadline Established As May 9, 2025
Added as Co-Sponsor Sen. Robert Peters
Added as Co-Sponsor Sen. Mike Simmons
Added as Co-Sponsor Sen. Christopher Belt
Added as Co-Sponsor Sen. Mary Edly-Allen
Added as Co-Sponsor Sen. Mike Porfirio
Added as Co-Sponsor Sen. Chris Balkema
Added as Co-Sponsor Sen. Sara Feigenholtz
Added as Co-Sponsor Sen. Cristina Castro
Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
Added as Co-Sponsor Sen. Craig Wilcox
Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
Rule 3-9(a) / Re-referred to Assignments
Added as Co-Sponsor Sen. Darby A. Hills
Added as Co-Sponsor Sen. Emil Jones, III
Added as Co-Sponsor Sen. Erica Harriss
Added as Chief Co-Sponsor Sen. Jil Tracy
Added as Co-Sponsor Sen. Sally J. Turner
Rule 2-10 Committee Deadline Established As April 24, 2026
Re-assigned to Revenue
Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026
Added as Co-Sponsor Sen. Paul Faraci
Added as Co-Sponsor Sen. Seth Lewis
Added as Co-Sponsor Sen. Suzy Glowiak Hilton
Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026
Rule 3-9(a) / Re-referred to Assignments
Added as Co-Sponsor Sen. Ram Villivalam
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