Bill Status of SB0163  103rd General Assembly


Short Description:  INC TX-R AND D CREDIT

Senate Sponsors
Sen. Donald P. DeWitte, Dale Fowler, Sally J. Turner, Dave Syverson, Win Stoller, Craig Wilcox and Neil Anderson

Last Action
DateChamber Action
  1/10/2024SenateRe-assigned to Revenue

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
  1/31/2023SenateFiled with Secretary by Sen. Donald P. DeWitte
  1/31/2023SenateFirst Reading
  1/31/2023SenateReferred to Assignments
  1/31/2023SenateAssigned to Revenue
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments
  3/21/2023SenateAdded as Co-Sponsor Sen. Dale Fowler
  3/22/2023SenateAdded as Co-Sponsor Sen. Sally J. Turner
  3/28/2023SenateAdded as Co-Sponsor Sen. Dave Syverson
  3/29/2023SenateAdded as Co-Sponsor Sen. Win Stoller
  4/17/2023SenateAdded as Co-Sponsor Sen. Craig Wilcox
  1/10/2024SenateRe-assigned to Revenue
  1/26/2024SenateAdded as Co-Sponsor Sen. Neil Anderson