Bill Title: 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.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB5439 Detail]

Text: Latest bill text (Introduced) [HTML]

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