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.
Partly Sunny then Slight Chance Showers And Thunderstorms
Latest News Stories
U.S. fighter jet shot down over Iran; frantic search and rescue underway
Universities warn state funding delays are wasting millions in taxpayer investment
Trump seeks 44% increase to boost military budget to $1.5 trillion
Illinois Quick Hits: Loyola student’s alleged killer faces federal firearm charge
U.S. adds 178k jobs in ‘strong’ March report amid Iran conflict
Will County Kicks Off Comprehensive Land Resource Management Plan Update with Focus on Proactive Zoning and Environmental Justice
Infighting and Calls for Resignation Disrupt Will County Board Meeting
Will County Land Use Committee Splits Votes on Massive Earthrise Solar Projects Amid Intense Public Opposition
Groups react to HHS, EPA flagging microplastics for further study
After $241M verdict vs Prairie Farms, Travelers sued for $2B for ‘bad faith’
National debt over 4x greater than reported, accounting group says
FBI cracks down on alleged $60M hospice fraud in LA County
