Bill Texts: IL SB0511 | 2021-2022 | 102nd General Assembly
Bill Title: 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.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-04-16 - Rule 3-9(a) / Re-referred to Assignments [SB0511 Detail]
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-04-16 - Rule 3-9(a) / Re-referred to Assignments [SB0511 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
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Introduced | 2021-02-23 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
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No bill amendments currently on file for Illinois SB0511 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
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No supplemental documents for Illinois SB0511 currently on file. |