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. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2015
Committee Review
Floor Vote
Governor
Introduced Feb 4, 2015
Last action Jan 10, 2017
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
3
Mar 27, 2015
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 17, 2015
Committee
Assigned to Revenue & Finance Committee
lower
Feb 4, 2015
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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