Date	Chamber	Action
3/10/2023	Senate	Rule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance

35 ILCS 5/201

35 ILCS 5/704A

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending prior to January 1, 2037 (currently, January 1, 2027). Provides that, in the case of qualifying quantum information science expenditures, the research and development credit shall be equal to 13% of the qualifying expenditures for increasing research activities in this State (currently, 6.5%). Provides that certain qualified startup taxpayers may elect to claim the credit against their obligation to pay withholding taxes. Effective immediately.

Actions 

Date	Chamber	Action
2/9/2023	Senate	Filed with Secretary by Sen. Elgie R. Sims, Jr.
2/9/2023	Senate	First Reading
2/9/2023	Senate	Referred to Assignments
2/21/2023	Senate	Assigned to Revenue
3/10/2023	Senate	Rule 3-9(a) / Re-referred to Assignments
5/10/2023	Senate	Added as Chief Co-Sponsor Sen. Mike Simmons

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