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 years (instead of 5 years). Increases the amount of the research and development credit by providing that the increase in qualifying expenditures shall be an increase over 50% (instead of 100%) of the average of the qualifying expenditures for each year in the base period. Effective immediately.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2015-10-10 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB1461 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2015-02-20	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB1461

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1461 currently on file.