Bill Title: Amends the Illinois Income Tax Act. Reinstates the research and development credit for taxable years ending prior to January 1, 2016 (now, January 1, 2011). Increases the amount of the research and development credit from 6.5% to 8% of the qualifying expenditures for increasing research activities in this State for taxable years ending on or after December 31, 2011. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB1842 Detail]

Text: Latest bill text (Introduced) [HTML]

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