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
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 16, 2024
Last action Apr 5, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
1
Committee
4
Apr 5, 2024
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 8, 2024
Lower · Passed
To Revenue-Income Tax Subcommittee
lower
Feb 28, 2024
Committee
Assigned to Revenue & Finance Committee
lower
Jan 16, 2024
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Joe Sosnowski
RRepublican
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