INC TX-R AND D CREDIT
Summary
Amends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Provides that the credit may be carried forward for a period of 20 years (instead of 5 years). Increases the amount of the research and development credit by providing that the increase in qualifying expenditures shall be an increase over 50% (instead of 100%) of the average of the qualifying expenditures for each year in the base period.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2014
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2014
Last action Jan 13, 2015
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
9
Key actions
0
Committee
4
Jan 13, 2015
Senate · Failed
Session Sine Die
Mar 28, 2014
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Feb 27, 2014
Senate · Reported by committee
To Subcommittee on Tax Credits
Feb 25, 2014
Senate · Referred to committee
Assigned to Revenue
Feb 14, 2014
Senate · Referred to committee
Referred to Assignments
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Dan Kotowski
DDemocratic
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