Illinois General Assembly - Bill Status for HB4492
Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

 Bill Status of HB4492  102nd General Assembly


Short Description:  INCOME TAX-R AND D CREDIT

House Sponsors
Rep. Tony McCombie

Last Action
DateChamber Action
  2/18/2022HouseRule 19(a) / Re-referred to Rules Committee

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
  1/13/2022HouseFiled with the Clerk by Rep. Tony McCombie
  1/21/2022HouseFirst Reading
  1/21/2022HouseReferred to Rules Committee
  2/1/2022HouseAssigned to Revenue & Finance Committee
  2/9/2022HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Tony McCombie
  2/9/2022HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  2/10/2022HouseTo Income Tax Subcommittee
  2/15/2022HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  2/18/2022HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  2/18/2022HouseRule 19(a) / Re-referred to Rules Committee

Back To Top