Illinois General Assembly - Bill Status for HB1578

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
1/30/2023	House	Filed with the Clerk by Rep. Mark L. Walker
1/31/2023	House	First Reading
1/31/2023	House	Referred to Rules Committee
2/15/2023	House	Assigned to Revenue & Finance Committee
2/23/2023	House	To Revenue-Income Tax Subcommittee
3/8/2023	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Mark L. Walker
3/8/2023	House	House Committee Amendment No. 1 Referred to Rules Committee
3/9/2023	House	House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
3/10/2023	House	Rule 19(a) / Re-referred to Rules Committee
3/10/2023	House	House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

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