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 Bill Status of HB3433  100th General Assembly


Short Description:  INC TX-R AND D CREDIT

House Sponsors
Rep. Keith R. Wheeler

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Provides that the credit may be carried forward for a period of 20 years (instead of 5 years). Increases the amount of the research and development credit by providing that the increase in qualifying expenditures shall be an increase over 50% (instead of 100%) of the average of the qualifying expenditures for each year in the base period. Effective immediately.

Actions 
DateChamber Action
  2/9/2017HouseFiled with the Clerk by Rep. Keith R. Wheeler
  2/10/2017HouseFirst Reading
  2/10/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Revenue & Finance Committee
  3/9/2017HouseTo Growth, Reform & Fairness Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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