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
Another U.S.-Canada border bust: Gun smuggling operation
More than 200 children rescued, 350 child sex offenders arrested in one month
Trump budget targets ‘valley of death’ with new military contractor accountability model
Nonprofit flies troops home for milestones they can’t afford to miss
Report: 2025 third most violent year on record for American Jews
International human smuggling ring exploiting Canadian visa system thwarted by US
Pro-life org: Informed consent for abortion pill impossible without doctor visit
Illinois Quick Hits: Swipe fee case returned to district court
Trump announces three-day ceasefire, prisoner swap between Russia, Ukraine
Bill to tax global profits from Illinois meets opposition protesting ‘double tax’
Analysis finds short-term stability, lack of long-term growth in state budget
WATCH: Let’s Go Washington launching initiative to repeal income tax
