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

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

1. Feb 7, 2025SenateFiled with Secretary by Sen. Donald P. DeWitte
2. Feb 7, 2025SenateFirst Reading
3. Feb 7, 2025CommitteeReferred to Assignments · Senate Assignments
4. Mar 4, 2025CommitteeAssigned to Revenue · Senate Revenue
5. Mar 21, 2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
6. Apr 4, 2025SenateAdded as Co-Sponsor Sen. Ram Villivalam
7. Apr 11, 2025SenateRule 2-10 Committee Deadline Established As May 9, 2025
8. May 9, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
9. May 23, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
10. Jun 2, 2025CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
11. Mar 5, 2026SenateAdded as Co-Sponsor Sen. Darby A. Hills

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 2 cosponsors: 1 Democrat, 1 Republican.

• Donald P. DeWitteR Primary sponsor · District 33