Illinois General Assembly - Bill Status for HB4457

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

Date	Chamber	Action
1/16/2024	House	Filed with the Clerk by Rep. Joe C. Sosnowski
1/16/2024	House	First Reading
1/16/2024	House	Referred to Rules Committee
2/28/2024	House	Assigned to Revenue & Finance Committee
3/8/2024	House	To Revenue-Income Tax Subcommittee
4/5/2024	House	Rule 19(a) / Re-referred to Rules Committee

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