Illinois General Assembly - Bill Status for SB0163

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
1/31/2023	Senate	Filed with Secretary by Sen. Donald P. DeWitte
1/31/2023	Senate	First Reading
1/31/2023	Senate	Referred to Assignments
1/31/2023	Senate	Assigned to Revenue
3/10/2023	Senate	Rule 3-9(a) / Re-referred to Assignments
3/21/2023	Senate	Added as Co-Sponsor Sen. Dale Fowler
3/22/2023	Senate	Added as Co-Sponsor Sen. Sally J. Turner
3/28/2023	Senate	Added as Co-Sponsor Sen. Dave Syverson
3/29/2023	Senate	Added as Co-Sponsor Sen. Win Stoller
4/17/2023	Senate	Added as Co-Sponsor Sen. Craig Wilcox
1/10/2024	Senate	Re-assigned to Revenue
1/26/2024	Senate	Added as Co-Sponsor Sen. Neil Anderson
3/15/2024	Senate	Rule 3-9(a) / Re-referred to Assignments

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