INC TX-R AND D CREDIT

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year in the base period (instead of 100% of the average of the qualifying expenditures for each year in the base period). Provides that the research and development credit applies on a permanent basis. Effective immediately.

Every action

14 steps, oldest first, as the legislature records them.

1. Mar 22, 2023SenateAdded as Co-Sponsor Sen. Sally J. Turner
2. Mar 28, 2023SenateAdded as Co-Sponsor Sen. Dave Syverson
3. Mar 29, 2023SenateAdded as Co-Sponsor Sen. Win Stoller
4. Apr 17, 2023SenateAdded as Co-Sponsor Sen. Craig Wilcox
5. Jan 10, 2024CommitteeRe-assigned to Revenue · Senate Revenue
6. Jan 26, 2024SenateAdded as Co-Sponsor Sen. Neil Anderson
7. Mar 15, 2024CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
8. Jan 7, 2025SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 6 cosponsors: 6 Republicans.

• Donald P. DeWitteR Primary sponsor · District 33