INC TX-INNOVATION CREDIT

What it does

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

Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obtained a research and development credit with respect to his or her federal income taxes to qualify for the Illinois research and development credit.

Every action

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

1. Mar 28, 2023SenateAdded as Co-Sponsor Sen. Dave Syverson
2. Mar 29, 2023SenateAdded as Co-Sponsor Sen. Win Stoller
3. Apr 17, 2023SenateAdded as Co-Sponsor Sen. Craig Wilcox
4. Jul 18, 2023SenateAdded as Co-Sponsor Sen. Sally J. Turner
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