Illinois General Assembly - Bill Status for HB3935
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 Bill Status of HB3935  102nd General Assembly


Short Description:  INCOME TAX-R AND D CREDIT

House Sponsors
Rep. Tony McCombie

Last Action
DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201


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
  2/19/2021HouseFiled with the Clerk by Rep. Tony McCombie
  2/22/2021HouseFirst Reading
  2/22/2021HouseReferred to Rules Committee
  3/16/2021HouseAssigned to Revenue & Finance Committee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2023HouseSession Sine Die

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