Illinois Quick Hits: Bills filed to create small business accounts

Illinois Quick Hits: Bills filed to create small business accounts

February 14, 2026/
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By Jim Talamonti | The Center Square
The Center Square

(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.

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