IL SB1491 | 2015-2016 | 99th General Assembly
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 20 2015 - 25% progression, died in committee
Action: 2015-10-10 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 20 2015 - 25% progression, died in committee
Action: 2015-10-10 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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.
Title
INC TX-R AND D CREDIT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2015-10-10 | Senate | Pursuant to Senate Rule 3-9(b) / Referred to Assignments |
| 2015-09-09 | Senate | Added as Chief Co-Sponsor Sen. Julie A. Morrison |
| 2015-05-15 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2015 |
| 2015-04-24 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2015 |
| 2015-04-23 | Senate | Added as Co-Sponsor Sen. David Koehler |
| 2015-03-27 | Senate | Rule 2-10 Committee Deadline Established As April 24, 2015 |
| 2015-03-05 | Senate | To Subcommittee on Tax Credits |
| 2015-03-03 | Senate | Assigned to Revenue |
| 2015-02-20 | Senate | Referred to Assignments |
| 2015-02-20 | Senate | First Reading |
| 2015-02-20 | Senate | Filed with Secretary by Sen. Dan Kotowski |
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=1491&GAID=13&DocTypeID=SB&SessionID=88&GA=99 |
| Text | https://www.ilga.gov/legislation/99/SB/09900SB1491.htm |
