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HB 6745 Illinois House · 93rd Regular Session

INC TAX-RESEARCH CREDIT

Summary
Amends the Illinois Income Tax Act. Reinstates the research and development credit beginning with taxable years ending on or after July 1, 2004 with changes. Provides that the credit is equal to 6.5% of the qualifying expenditures for research activities paid or incurred in this State during the taxable year. Provides that "qualifying expenditures for research activities" means those expenses defined as "qualified research expenses" under Section 41(b) of the Internal Revenue Code. Exempts the credit from the sunset requirements of the Act. Effective immediately.
Bill status failed 3 of 5 stages cleared
Introduction
Mar 2004
Committee Review
Apr 2004
House Passage
Mar 2004
Senate Passage
Governor
Introduced Mar 24, 2004 Last action Jan 11, 2005
Floor votes · House Mar 24, 2004

How they voted

75–30
Passed · 10 other
Total votes 115
Mar 24, 2004
D Democratic65
26 Yea 30 Nay 9
46% Nay
R Republican50
49 Yea 1
98% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
45
Key actions
2
Committee
6
Apr 30, 2004
Committee
Rule 3-9(a) / Re-referred to Rules
upper
Apr 15, 2004
Committee
Assigned to Revenue
upper
Mar 25, 2004
Committee
Referred to Rules
upper
Mar 24, 2004
Introduced
Arrive in Senate
upper
Mar 24, 2004
House · Passed
House Vote: pass (75-30-10)
house
Mar 4, 2004
Lower · Passed
Do Pass / Short Debate Revenue Committee; 009-000-000
lower
Feb 20, 2004
Committee
Assigned to Revenue Committee
lower
Feb 9, 2004
Committee
Referred to Rules Committee
lower
0 primary · 2 co-sponsors

Sponsors

No sponsor information available.