IL SB1350 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
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
History
| Date | Chamber | Action |
|---|---|---|
| 2021-01-13 | Senate | Session Sine Die |
| 2019-03-28 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2019-03-22 | Senate | Rule 2-10 Committee Deadline Established As March 28, 2019 |
| 2019-03-06 | Senate | To Subcommittee on Tax Exemptions and Credits |
| 2019-02-21 | Senate | Postponed - Revenue |
| 2019-02-20 | Senate | Added as Co-Sponsor Sen. Jason A. Barickman |
| 2019-02-13 | Senate | Assigned to Revenue |
| 2019-02-13 | Senate | Referred to Assignments |
| 2019-02-13 | Senate | First Reading |
| 2019-02-13 | Senate | Filed with Secretary by Sen. Chuck Weaver |
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=1350&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/SB/10100SB1350.htm |
