SB 2523 Illinois Senate · 97th Regular Session

INC TX-EXTEND R AND D

Summary
Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending on or after December 31, 2004, and ending prior to January 1, 2016 (now, January 1, 2011). Provides that the credit may not be carried forward to any taxable year ending on or after January 1, 2016. Amends the Illinois Enterprise Zone Act. Provides that enterprise zones shall be in effect for 35 (instead of 30) calendar years, or for a lesser number of years specified in the certified designating ordinance. Amends the Retailers' Occupation Tax Act and the Public Utilities Act to make conforming changes. Further amends the Public Utilities Act to provide that a business that is primarily engaged in manufacturing is exempt from the additional charges added to its utility bills as a pass-on of State utility taxes. Effective immediately.
Bill status failed 1 of 4 stages cleared
Introduction
Nov 2011
Committee Review
Floor Vote
Governor
Introduced Nov 8, 2011 Last action Jan 8, 2013
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
8
Key actions
0
Committee
5
Jan 8, 2013
Senate · Failed
Session Sine Die
Mar 30, 2012
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Mar 9, 2012
Senate · Reported by committee
Rule 2-10 Committee Deadline Established As March 30, 2012
Mar 1, 2012
Senate · Reported by committee
To Revenue Subcommittee on Tax Credits
Jan 31, 2012
Senate · Referred to committee
Assigned to Revenue
Nov 8, 2011
Senate · Referred to committee
Referred to Assignments
0 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
Co
Photo of Kyle McCarter
Kyle McCarter
RRepublican
IL
54