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 2015
Committee Review
Floor Vote
Governor
Introduced Feb 20, 2015
Last action Jan 10, 2017
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
12
Key actions
0
Committee
5
Jan 10, 2017
Senate · Failed
Session Sine Die
Oct 10, 2015
Senate · Referred to committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Mar 27, 2015
Senate · Reported by committee
Rule 2-10 Committee Deadline Established As April 24, 2015
Mar 5, 2015
Senate · Reported by committee
To Subcommittee on Tax Credits
Mar 3, 2015
Senate · Referred to committee
Assigned to Revenue
Feb 20, 2015
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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