IL HB4766 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 5 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 5 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall award income tax credits in an amount equal to 13% of the qualifying quantum information science expenditures made by the taxpayer during the taxable year. Amends the Illinois Income Tax Act to make conforming changes. Further amends the Illinois Income Tax Act to extend the research and development credit to tax years ending before January 1, 2037 (currently, January 1, 2027). Effective immediately.
Title
INC TX-TECHNOLOGY CREDITS
Sponsors
Sen. Mark Walker [D] |
History
Date | Chamber | Action |
---|---|---|
2024-04-05 | House | Rule 19(a) / Re-referred to Rules Committee |
2024-03-08 | House | To Revenue-Income Tax Subcommittee |
2024-02-28 | House | Assigned to Revenue & Finance Committee |
2024-02-06 | House | Referred to Rules Committee |
2024-02-06 | House | First Reading |
2024-02-05 | House | Filed with the Clerk by Rep. Mark L. Walker |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
20 | 605 | 605-1115 | New Code | See Bill Text |
35 | 5 | 201 | Amended Code | Citation Text |
35 | 5 | 241 | New Code | See Bill Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4766&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
Text | https://www.ilga.gov/legislation/103/HB/10300HB4766.htm |