IL SB3394 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Slight Partisan Bill (Democrat 2-1)
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.
Title
INC TX-R AND D CREDIT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-13 | Senate | Session Sine Die |
| 2014-03-28 | Senate | Added as Chief Co-Sponsor Sen. Pamela J. Althoff |
| 2014-03-28 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2014-03-10 | 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. 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=3394&GAID=12&DocTypeID=SB&SessionID=85&GA=98 |
| Text | https://www.ilga.gov/legislation/98/SB/09800SB3394.htm |
