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Full Text of HB4869
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HB4869 - 104th General Assembly
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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB4869
Introduced , by Rep. Amy Elik
SYNOPSIS AS INTRODUCED:
35 ILCS 5/246 new
Amends the Illinois Income Tax Act. Provides that a qualified small
business may apply to the Department of Commerce and Economic Opportunity
for an income tax credit in an amount equal to the amount paid by the
taxpayer during the taxable year for qualified advertising with a local
news organization. Provides that the credit may not exceed $2,500 per
eligible taxpayer in any taxable year. Provides that the aggregate amount
of all tax credits awarded by the Department under the amendatory Act in
any calendar year may not exceed $3,000,000. Effective immediately.
LRB104 17772 HLH 31204 b
A BILL FOR
HB4869
LRB104 17772 HLH 31204 b
1
AN ACT concerning revenue.
2
Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:
4
Section 5.
The Illinois Income Tax Act is amended by
5
adding Section 246 as follows:
6
(35 ILCS 5/246 new)
7
Sec. 246.
Local business advertising.
8
(a) As used in this Section:
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"Department" means the Department of Commerce and Economic
10
Opportunity.
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"Local news organization" has the meaning given to that
12
term in the Strengthening Community Media Act.
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"Qualified advertising" means any advertising with a local
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news organization for the purpose of promoting the qualified
15
small business, including advertising that appears in a
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newspaper, on television, on a billboard, or through other
17
digital or print media.
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"Qualified small business" means an independently owned
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and operated for-profit entity that (i) has 50 or fewer
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full-time employees or grosses less than $4,000,000 per year
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and (ii) is located within a 25-mile radius of a business
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location of the local news organization.
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(b) For taxable years that begin on or after January 1,
HB4869
- 2 -
LRB104 17772 HLH 31204 b
1
2027 and before January 1, 2032, each taxpayer that is a
2
qualified small business may apply to the Department for a
3
credit against the tax imposed by subsections (a) and (b) of
4
Section 201 in an amount equal to the amount paid by the
5
taxpayer during the taxable year for qualified advertising
6
with a local news organization. The credit may not exceed
7
$2,500 per eligible taxpayer in any taxable year. The
8
aggregate amount of all tax credits awarded by the Department
9
under this Section in any calendar year may not exceed
10
$3,000,000. Credits shall be awarded on a first-come,
11
first-served basis until the maximum credit amount is reached.
12
Upon approval of a tax credit award under this Section, the
13
Department shall issue a tax credit certificate to the
14
taxpayer, and the taxpayer shall attach the certificate to the
15
taxpayer's Illinois income tax return.
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(c) The credit shall be available only in the taxable year
17
in which the investment is made and shall not be allowed to the
18
extent that it would reduce a taxpayer's liability for the tax
19
imposed by subsections (a) and (b) of Section 201 to less than
20
zero.
21
(d) If the taxpayer is a partnership or a Subchapter S
22
corporation, then the provisions of Section 251 apply.
23
Section 99.
Effective date.
This Act takes effect upon
24
becoming law.
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