Illinois House Bill 4766

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 5 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall award income tax credits in an amount equal to 13% of the qualifying quantum information science expenditures made by the taxpayer during the taxable year. Amends the Illinois Income Tax Act to make conforming changes. Further amends the Illinois Income Tax Act to extend the research and development credit to tax years ending before January 1, 2037 (currently, January 1, 2027). Effective immediately.

INC TX-TECHNOLOGY CREDITS

Sen. Mark Walker [D]

Date	Chamber	Action
2024-04-05	House	Rule 19(a) / Re-referred to Rules Committee
2024-03-08	House	To Revenue-Income Tax Subcommittee
2024-02-28	House	Assigned to Revenue & Finance Committee
2024-02-06	House	Referred to Rules Committee
2024-02-06	House	First Reading
2024-02-05	House	Filed with the Clerk by Rep. Mark L. Walker

Chapter	Article	Section	Citation Type	Statute Text
20	605	605-1115	New Code	See Bill Text
35	5	201	Amended Code	Citation Text
35	5	241	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4766&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4766.htm