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SB 1350 Illinois Senate · 101st Regular Session

INC TX-R AND D CREDIT

Summary
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.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2019
Committee Review
Floor Vote
Governor
Introduced Feb 13, 2019 Last action Mar 28, 2019
Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions
9
Key actions
2
Committee
5
Mar 28, 2019
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Mar 22, 2019
Upper · Passed
Rule 2-10 Committee Deadline Established As March 28, 2019
upper
Mar 6, 2019
Upper · Passed
To Subcommittee on Tax Exemptions and Credits
upper
Feb 13, 2019
Committee
Assigned to Revenue
upper
Feb 13, 2019
Committee
Referred to Assignments
upper
0 primary · 2 co-sponsors

Sponsors

No sponsor information available.