IL SB0491 | 2021-2022 | 102nd General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 23 2021 - 25% progression, died in committee
Action: 2021-04-16 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 23 2021 - 25% progression, died in committee
Action: 2021-04-16 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year in the base period (instead of 100% of the average of the qualifying expenditures for each year in the base period). Provides that the research and development credit applies on a permanent basis. Effective immediately.
Title
INC TX-R AND D CREDIT
Sponsors
| Sen. Win Stoller [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2021-04-16 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2021-03-19 | Senate | To Revenue- Special Issues |
| 2021-03-03 | Senate | Assigned to Revenue |
| 2021-02-23 | Senate | Referred to Assignments |
| 2021-02-23 | Senate | First Reading |
| 2021-02-23 | Senate | Filed with Secretary by Sen. Win Stoller |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 201 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=491&GAID=16&DocTypeID=SB&SessionID=110&GA=102 |
| Text | https://www.ilga.gov/legislation/102/SB/10200SB0491.htm |
