Illinois General Assembly - Bill Status for SB2523

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending on or after December 31, 2004, and ending prior to January 1, 2016 (now, January 1, 2011). Provides that the credit may not be carried forward to any taxable year ending on or after January 1, 2016. Amends the Illinois Enterprise Zone Act. Provides that enterprise zones shall be in effect for 35 (instead of 30) calendar years, or for a lesser number of years specified in the certified designating ordinance. Amends the Retailers' Occupation Tax Act and the Public Utilities Act to make conforming changes. Further amends the Public Utilities Act to provide that a business that is primarily engaged in manufacturing is exempt from the additional charges added to its utility bills as a pass-on of State utility taxes. Effective immediately.

Actions

Date	Chamber	Action
11/8/2011	Senate	Filed with Secretary by Sen. Kyle McCarter
11/8/2011	Senate	First Reading
11/8/2011	Senate	Referred to Assignments
1/31/2012	Senate	Assigned to Revenue
3/1/2012	Senate	To Revenue Subcommittee on Tax Credits
3/9/2012	Senate	Rule 2-10 Committee Deadline Established As March 30, 2012
3/30/2012	Senate	Rule 3-9(a) / Re-referred to Assignments
1/8/2013	Senate	Session Sine Die

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