Date	Chamber	Action
1/10/2017	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/201

from Ch. 120, par. 2-201

Synopsis As Introduced
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.

Actions 

Date	Chamber	Action
2/20/2015	Senate	Filed with Secretary by Sen. Pamela J. Althoff
2/20/2015	Senate	First Reading
2/20/2015	Senate	Referred to Assignments
3/3/2015	Senate	Assigned to Revenue
3/5/2015	Senate	To Subcommittee on Tax Credits
3/27/2015	Senate	Rule 2-10 Committee Deadline Established As April 24, 2015
4/24/2015	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2015
5/15/2015	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2015
10/10/2015	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
1/10/2017	Senate	Session Sine Die

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