Bill Status of SB 1672   98th General Assembly


Short Description:  INC TX-R & D CREDIT

Senate Sponsors
Sen. Matt Murphy

Last Action  View All Actions

DateChamber Action
  1/13/2015SenateSession 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. Reinstates the research and development credit for taxable years ending prior to January 1, 2018 (now, January 1, 2016). Increases the amount of the research and development credit from 6.5% to 8% of the qualifying expenditures for increasing research activities in this State for taxable years ending on or after December 31, 2013. Effective immediately.

Actions 
DateChamber Action
  2/13/2013SenateFiled with Secretary by Sen. Matt Murphy
  2/13/2013SenateFirst Reading
  2/13/2013SenateReferred to Assignments
  2/27/2013SenateAssigned to Revenue
  3/6/2013SenateTo Subcommittee on Tax Credits
  3/22/2013SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2015SenateSession Sine Die

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