Bill Title: 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 taxable years (currently, 5 taxable years). Makes changes concerning the calculation of the credit. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-12-31 - Chief Sponsor Changed to Sen. Don Harmon [SB2560 Detail]

Text: Latest bill text (Introduced) [HTML]

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