IL SB3723 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year in the base period (instead of 100% of the average of the qualifying expenditures for each year in the base period). Provides that the research and development credit applies on a permanent basis. Effective immediately.
Title
INC TX-R AND D CREDIT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-01-13 | Senate | Session Sine Die |
| 2020-05-15 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2020 |
| 2020-05-07 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 29, 2020 |
| 2020-05-07 | Senate | Rule 2-10 Committee Deadline Established As May 22, 2020 |
| 2020-04-30 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 22, 2020 |
| 2020-04-30 | Senate | Rule 2-10 Committee Deadline Established As May 15, 2020 |
| 2020-04-23 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 15, 2020 |
| 2020-04-23 | Senate | Rule 2-10 Committee Deadline Established As May 7, 2020 |
| 2020-04-16 | Senate | Rule 2-10 Committee Deadline Established As April 30, 2020 |
| 2020-04-12 | Senate | Pursuant to Senate Rule 3-9(b) / Referred to Assignments |
| 2020-03-25 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 7, 2020 |
| 2020-03-25 | Senate | Rule 2-10 Committee Deadline Established As April 24, 2020 |
| 2020-03-18 | Senate | Rule 2-10 Committee Deadline Established As April 2, 2020 |
| 2020-03-12 | Senate | Assigned to Revenue |
| 2020-02-18 | Senate | Added as Chief Co-Sponsor Sen. Craig Wilcox |
| 2020-02-14 | Senate | Referred to Assignments |
| 2020-02-14 | Senate | First Reading |
| 2020-02-14 | Senate | Filed with Secretary by Sen. Chuck Weaver |
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=3723&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/SB/10100SB3723.htm |
