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
failed
1 of 4 stages cleared
Introduction
Jan 2022
Committee Review
Floor Vote
Governor
Introduced Jan 18, 2022
Last action Jan 10, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
3
Feb 10, 2022
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Feb 1, 2022
Committee
Assigned to Revenue
upper
Jan 18, 2022
Committee
Referred to Assignments
upper
1 primary · 1 co-sponsor
Sponsors
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