Bill Title: Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obtained a research and development credit with respect to his or her federal income taxes to qualify for the Illinois research and development credit.

Spectrum: Bipartisan Bill

Status: (Failed) 2021-01-13 - Session Sine Die [SB3875 Detail]

Text: Latest bill text (Introduced) [HTML]

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