Illinois General Assembly - Bill Status for HB4670
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 Bill Status of HB4670  102nd General Assembly


Short Description:  INC TX-R AND D CREDIT

House Sponsors
Rep. Tony McCombie, Deb Conroy and Jonathan "Yoni" Pizer

Last Action
DateChamber Action
  1/13/2021HouseSession 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
  2/6/2020HouseFiled with the Clerk by Rep. Tony McCombie
  2/18/2020HouseFirst Reading
  2/18/2020HouseReferred to Rules Committee
  5/22/2020HouseAdded Co-Sponsor Rep. Deb Conroy
  5/22/2020HouseAdded Co-Sponsor Rep. Jonathan "Yoni" Pizer
  1/13/2021HouseSession Sine Die

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