Illinois 2025-2026 Regular Session

Illinois House Bill HB1725 Compare Versions

Only one version of the bill is available at this time.

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1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1725 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Provides that a qualified small business may apply to the Department of Commerce and Economic Opportunity for an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for qualified advertising with a local news organization. Provides that the credit may not exceed $2,500 per eligible taxpayer in any taxable year. Provides that the aggregate amount of all tax credits awarded by the Department under the amendatory Act in any calendar year may not exceed $3,000,000. Effective immediately. LRB104 06550 HLH 16586 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1725 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Provides that a qualified small business may apply to the Department of Commerce and Economic Opportunity for an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for qualified advertising with a local news organization. Provides that the credit may not exceed $2,500 per eligible taxpayer in any taxable year. Provides that the aggregate amount of all tax credits awarded by the Department under the amendatory Act in any calendar year may not exceed $3,000,000. Effective immediately. LRB104 06550 HLH 16586 b LRB104 06550 HLH 16586 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1725 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 5/246 new 35 ILCS 5/246 new
4	4	35 ILCS 5/246 new
5	5	Amends the Illinois Income Tax Act. Provides that a qualified small business may apply to the Department of Commerce and Economic Opportunity for an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for qualified advertising with a local news organization. Provides that the credit may not exceed $2,500 per eligible taxpayer in any taxable year. Provides that the aggregate amount of all tax credits awarded by the Department under the amendatory Act in any calendar year may not exceed $3,000,000. Effective immediately.
6	6	LRB104 06550 HLH 16586 b LRB104 06550 HLH 16586 b
7	7	LRB104 06550 HLH 16586 b
8	8	A BILL FOR
9	9	HB1725LRB104 06550 HLH 16586 b HB1725 LRB104 06550 HLH 16586 b
10	10	HB1725 LRB104 06550 HLH 16586 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Income Tax Act is amended by
15	15	5 adding Section 246 as follows:
16	16	6 (35 ILCS 5/246 new)
17	17	7 Sec. 246. Local business advertising.
18	18	8 (a) For taxable years that begin on or after January 1,
19	19	9 2026 and begin before January 1, 2031, each taxpayer that is a
20	20	10 qualified small business may apply to the Department for a
21	21	11 credit against the tax imposed by subsections (a) and (b) of
22	22	12 Section 201 in an amount equal to the amount paid by the
23	23	13 taxpayer during the taxable year for qualified advertising
24	24	14 with a local news organization. The credit may not exceed
25	25	15 $2,500 per eligible taxpayer in any taxable year. The
26	26	16 aggregate amount of all tax credits awarded by the Department
27	27	17 under this Section in any calendar year may not exceed
28	28	18 $3,000,000. Credits shall be awarded on a first-come
29	29	19 first-served basis until the maximum credit amount is reached.
30	30	20 Upon approval of a tax credit award under this Section, the
31	31	21 Department shall issue a tax credit certificate to the
32	32	22 taxpayer, and the taxpayer shall attach that certificate to
33	33	23 the taxpayer's Illinois income tax return.
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1725 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 5/246 new 35 ILCS 5/246 new
39	39	35 ILCS 5/246 new
40	40	Amends the Illinois Income Tax Act. Provides that a qualified small business may apply to the Department of Commerce and Economic Opportunity for an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for qualified advertising with a local news organization. Provides that the credit may not exceed $2,500 per eligible taxpayer in any taxable year. Provides that the aggregate amount of all tax credits awarded by the Department under the amendatory Act in any calendar year may not exceed $3,000,000. Effective immediately.
41	41	LRB104 06550 HLH 16586 b LRB104 06550 HLH 16586 b
42	42	LRB104 06550 HLH 16586 b
43	43	A BILL FOR
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49	49	35 ILCS 5/246 new
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68	68	1 (b) The credit shall be available only in the taxable year
69	69	2 in which the investment is made and shall not be allowed to the
70	70	3 extent that it would reduce a taxpayer's liability for the tax
71	71	4 imposed by subsections (a) and (b) of Section 201 to less than
72	72	5 zero.
73	73	6 (c) If the taxpayer is a partnership or a Subchapter S
74	74	7 corporation, then the provisions of Section 251 apply.
75	75	8 (c) As used in this Section:
76	76	9 "Department" means the Department of Commerce and Economic
77	77	10 Opportunity.
78	78	11 "Local news organization" has the meaning given to that
79	79	12 term in the Strengthening Community Media Act.
80	80	13 "Qualified advertising" means any advertising with a local
81	81	14 news organization for the purpose of promoting the qualified
82	82	15 small business, including advertising that appears in a
83	83	16 newspaper, on television, on a billboard, or through other
84	84	17 digital or print media.
85	85	18 "Qualified small business" means an independently owned
86	86	19 and operated for-profit entity that (i) has 50 or fewer
87	87	20 full-time employees or grosses less than $4,000,000 per year
88	88	21 and (ii) is located within a 25 mile radius of a business
89	89	22 location of the local news organization.
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95	95	HB1725 - 2 - LRB104 06550 HLH 16586 b