INC TX-INNOVATION CREDIT
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 7, 2025
Last action Mar 5, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
11
Key actions
2
Committee
5
Jun 2, 2025
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Apr 11, 2025
Upper · Passed
Rule 2-10 Committee Deadline Established As May 9, 2025
upper
Mar 21, 2025
Upper · Passed
Rule 2-10 Committee Deadline Established As April 11, 2025
upper
Mar 4, 2025
Committee
Assigned to Revenue
upper
Feb 7, 2025
Committee
Referred to Assignments
upper
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Don DeWitte
RRepublican
Co
Darby Hills
RRepublican
Co
Ram Villivalam
DDemocratic
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