IL HB2423 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 14 2023 - 25% progression
Action: 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 14 2023 - 25% progression
Action: 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obtained a research and development credit with respect to his or her federal income taxes to qualify for the Illinois research and development credit.
Title
INC TX-INNOVATION CREDIT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-03-10 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2023-03-09 | House | To Revenue-Income Tax Subcommittee |
| 2023-02-28 | House | Assigned to Revenue & Finance Committee |
| 2023-02-15 | House | Referred to Rules Committee |
| 2023-02-15 | House | First Reading |
| 2023-02-14 | House | Filed with the Clerk by Rep. Martin J. Moylan |
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=2423&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB2423.htm |
