Illinois General Assembly - Bill Status for SB1350
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 Bill Status of SB1350  101st General Assembly


Short Description:  INC TX-R AND D CREDIT

Senate Sponsors
Sen. Chuck Weaver and Jason A. Barickman

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/13/2019SenateFiled with Secretary by Sen. Chuck Weaver
  2/13/2019SenateFirst Reading
  2/13/2019SenateReferred to Assignments
  2/13/2019SenateAssigned to Revenue
  2/20/2019SenateAdded as Co-Sponsor Sen. Jason A. Barickman
  2/21/2019SenatePostponed - Revenue
  3/6/2019SenateTo Subcommittee on Tax Exemptions and Credits
  3/22/2019SenateRule 2-10 Committee Deadline Established As March 28, 2019
  3/28/2019SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2021SenateSession Sine Die

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