IL SB3388 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Bipartisan Bill
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
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. Effective immediately.
Title
INC TX-R AND D CREDIT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2015-01-13 | Senate | Session Sine Die |
2014-03-28 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2014-03-06 | Senate | Added as Chief Co-Sponsor Sen. Don Harmon |
2014-02-27 | Senate | To Subcommittee on Tax Credits |
2014-02-25 | Senate | Assigned to Revenue |
2014-02-14 | Senate | Referred to Assignments |
2014-02-14 | Senate | First Reading |
2014-02-14 | Senate | Filed with Secretary by Sen. Pamela J. Althoff |
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=3388&GAID=12&DocTypeID=SB&SessionID=85&GA=98 |
Text | https://www.ilga.gov/legislation/98/SB/09800SB3388.htm |