SB 2005 Illinois Senate · 104th Regular Session

SMALL BUSINESS INCENTIVES

Summary

Creates the Small Business Economic Incentive Act. Provides that at least 50% of the dollar value of all economic incentives awarded to businesses by the State or by any State agency on or after January 1, 2026 shall be awarded to businesses with 50 or fewer full-time employees. Effective January 1, 2026.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 6, 2025 Last action Jun 2, 2025

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jun 2, 2025

Committee

Rule 3-9(a) / Re-referred to Assignments

upper

Apr 11, 2025

Upper · Passed

Rule 2-10 Committee Deadline Established As May 9, 2025

upper

Mar 21, 2025

Upper · Passed

Rule 2-10 Committee Deadline Established As April 11, 2025

upper

Feb 25, 2025

Committee

Assigned to Appropriations

upper

Feb 6, 2025

Committee

Referred to Assignments

upper

1 primary · 4 co-sponsors