INC TX-TECHNOLOGY CREDITS

What it does

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

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall award income tax credits in an amount equal to 13% of the qualifying quantum information science expenditures made by the taxpayer during the taxable year. Amends the Illinois Income Tax Act to make conforming changes. Further amends the Illinois Income Tax Act to extend the research and development credit to tax years ending before January 1, 2037 (currently, January 1, 2027). Effective immediately.

Every action

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

1. Feb 8, 2024SenateFiled with Secretary by Sen. Elgie R. Sims, Jr.
2. Feb 8, 2024SenateFirst Reading
3. Feb 8, 2024CommitteeReferred to Assignments · Senate Assignments
4. Feb 20, 2024CommitteeAssigned to Revenue · Senate Revenue
5. Mar 15, 2024SenateRule 2-10 Committee Deadline Established As April 5, 2024
6. Apr 5, 2024SenateRule 2-10 Committee Deadline Established As May 3, 2024
7. May 3, 2024CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
8. May 17, 2024SenateAdded as Chief Co-Sponsor Sen. Celina Villanueva
9. Jan 7, 2025SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 1 cosponsor: 1 Democrat.

• Elgie R. Sims, Jr.D Primary sponsor · District 17