Illinois Quick Hits: Bills filed to create small business accounts
(The Center Square) – Democratic state Sen. Doris Turner, D-Springfield, and Republican state Rep Amy Elik, R-Alton, have filed legislation to create small business asset purchase accounts.
HB 4874 and SB 3614 allow small businesses to receive income tax deductions of 50% in the tax year they contribute funds to the account or withdraw funds.
The lawmakers said the legislation would empower businesses to make investment decisions based on operational needs rather than arbitrary tax timelines.
COOK COUNTY JUDGE NAMED TO APPEALS COURT
Cook County Circuit Court Judge Thaddeus L. Wilson has been assigned to replace recently-named Illinois Supreme Court Justice Sanjay T. Tailor on the First District Appellate Court.
Wilson’s judicial experience includes time in the Cook County chancery and criminal divisions, as well as the First Municipal District.
SCHOOLS APPROVE IHSA FOOTBALL CHANGES
The first practice date of the 2026 Illinois High School Association football season is moving up to Aug. 5.
The IHSA announced Friday that members school approved a special by-law proposal by a margin of 290 in favor, 245 opposed and 67 with no opinion.
In addition, players will be required to complete 12 days of on-field practices before they are eligible to compete in their first game.
Mostly Sunny then Showers And Thunderstorms Likely
Latest News Stories
Judge sets up high stakes baby formula NEC trial vs Mead Johnson
Trade court to rule on tariff stay by next week
FeaturingBeecher Village Board Adopts FY26/27 Budget Police Expansion and Drone Program
Johnson defends Trump ballroom as ‘a donation to the country’
Vance cuts $1.3 billion in California Medicaid, pauses hospice care
Groups urge House leaders to reject E15 expansion, calling it a hidden tax
Illinois Quick Hits: Home insurance regulations approved by Illinois Senate
Beecher Rallies for Come-From-Behind Win Over Momence
Beecher Cruises to 7-1 Victory Over Lincoln-Way Central
Senate confirms Warsh on narrow partisan lines
Illinois Senate passes bill to regulate auto insurance rates
Exclusive: GOP defends report, points to Walz administration failures on fraud
Op-Ed: The FAA’s O’Hare decision is a win for travelers – and for competition
Bill to prevent fraud on elderly, disabled opposed by financial institutions
