Illinois General Assembly - Bill Status for SB3474

Synopsis As Introduced
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall award income tax credits in an amount equal to 13% of the qualifying quantum information science expenditures made by the taxpayer during the taxable year. Amends the Illinois Income Tax Act to make conforming changes. Further amends the Illinois Income Tax Act to extend the research and development credit to tax years ending before January 1, 2037 (currently, January 1, 2027). Effective immediately.

Actions

Date	Chamber	Action
2/8/2024	Senate	Filed with Secretary by Sen. Elgie R. Sims, Jr.
2/8/2024	Senate	First Reading
2/8/2024	Senate	Referred to Assignments
2/20/2024	Senate	Assigned to Revenue
3/15/2024	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
4/5/2024	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024

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