IL SB0163 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 7-0)
Status: Introduced on January 31 2023 - 25% progression
Action: 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 31 2023 - 25% progression
Action: 2024-03-15 - 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. Donald DeWitte [R] | Sen. Dale Fowler [R] | Sen. Sally Turner [R] | Sen. Dave Syverson [R] |
| Sen. Win Stoller [R] | Sen. Craig Wilcox [R] | Sen. Neil Anderson [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-15 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2024-01-26 | Senate | Added as Co-Sponsor Sen. Neil Anderson |
| 2024-01-10 | Senate | Re-assigned to Revenue |
| 2023-04-17 | Senate | Added as Co-Sponsor Sen. Craig Wilcox |
| 2023-03-29 | Senate | Added as Co-Sponsor Sen. Win Stoller |
| 2023-03-28 | Senate | Added as Co-Sponsor Sen. Dave Syverson |
| 2023-03-22 | Senate | Added as Co-Sponsor Sen. Sally J. Turner |
| 2023-03-21 | Senate | Added as Co-Sponsor Sen. Dale Fowler |
| 2023-03-10 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2023-01-31 | Senate | Assigned to Revenue |
| 2023-01-31 | Senate | Referred to Assignments |
| 2023-01-31 | Senate | First Reading |
| 2023-01-31 | Senate | Filed with Secretary by Sen. Donald P. DeWitte |
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=163&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB0163.htm |
