CLAYBORNE-LINK-MUNOZ-OBAMA-LAUZEN. (MCCARTHY-HOLBROOK-MOORE,ANDREA-TENHOUSE-STEPHENS) 35 ILCS 5/201 from Ch. 120, par. 2-201 Amends the Illinois Income Tax Act. Allows the research and development credit to be taken by partners of partnerships and shareholders of Subchapter S corporation according to the income determination and distribution provisions of the federal Internal Revenue Code. Effective immediately. SENATE AMENDMENT NO. 1. Deletes everything. Amends the Illinois Income Tax Act. Provides that, for partners and shareholders of subchapter S corporations there shall be allowed a research and development credit to be determined in accordance with the determination of income and distributive share of income under the Internal Revenue Code. Allows the owners of limited liability companies, if the company is treated as a partnership for federal and State income tax purposes, the investment credit, the training expense credit, and the research and development credit. Effective immediately. HOUSE AMENDMENT NO. 1. Deletes everything. Amends the Illinois Income Tax Act concerning the tax imposed. Makes a technical change. 99-02-02 S FIRST READING 99-02-02 S REFERRED TO SENATE RULES COMMITTEE RULES 99-02-03 S ASSIGNED TO COMMITTEE REVENUE 99-02-17 S ADDED AS A CHIEF CO-SPONSOR MUNOZ 99-02-18 S DO PASS 009-000-000 SREV 99-02-18 S PLACED ON CALENDAR ORDER OF 2ND READING 99-02-24 99-02-18 S ADDED AS A CHIEF CO-SPONSOR OBAMA 99-02-18 S ADDED AS A CHIEF CO-SPONSOR LAUZEN 99-03-02 S FILED WITH SECRETARY 99-03-02 S AMENDMENT NO. 01-CLAYBORNE 99-03-02 S AMENDMENT REFERRED TO SRUL 99-03-03 S AMENDMENT NO. 01-CLAYBORNE 99-03-03 S RULES REFERS TO SREV 99-03-11 S AMENDMENT NO. 01-CLAYBORNE 99-03-11 S BE ADOPTED SREV/008-000-000 99-03-11 S SECOND READING 99-03-11 S AMENDMENT NO. 01-CLAYBORNE 99-03-11 S ADOPTED 99-03-11 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-16 99-03-18 S THIRD READING - PASSED 058-000-000 99-03-18 H ARRIVE IN HOUSE 99-03-18 H HOUSE SPONSOR HOLBROOK 99-03-18 H PLACED CALENDAR ORDER OF FIRST READING 99-03-19 H FIRST READING 99-03-19 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-03-22 H ADDED AS A JOINT SPONSOR MCCARTHY 99-03-22 H ADDED AS A JOINT SPONSOR MOORE,ANDREA 99-03-22 H ADDED AS A JOINT SPONSOR TENHOUSE 99-03-22 H ADDED AS A JOINT SPONSOR STEPHENS 99-04-14 H ASSIGNED TO COMMITTEE REVENUE 99-04-21 H ALTERNATE PRIMARY SPONSOR CHANGED TO MCCARTHY 99-04-21 H JOINT-ALTERNATE-SPONSOR CHANGED TO HOLBROOK 99-04-29 H AMENDMENT NO. 01-REVENUE H 99-04-29 H ADOPTED 99-04-29 H DO PASS AMENDED/SHORT DEBATE 008-000-000 HREV 99-04-29 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-05-04 H SECOND READING-SHORT DEBATE 99-05-04 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-06 H THIRD READING/SHORT DEBATE/LOST 042-059-011 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary