INC TX-INNOVATION CREDIT Senate SponsorsSen. Donald P. DeWitte, Ram Villivalam and Darby A. Hills 6/2/2025SenateRule 3-9(a) / Re-referred to Assignments 35 ILCS 5/201Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obtained a research and development credit with respect to his or her federal income taxes to qualify for the Illinois research and development credit. 2/7/2025SenateFiled with Secretary by Sen. Donald P. DeWitte 2/7/2025SenateFirst Reading 2/7/2025SenateReferred to Assignments 3/4/2025SenateAssigned to Revenue 3/21/2025SenateRule 2-10 Committee Deadline Established As April 11, 2025 4/4/2025SenateAdded as Co-Sponsor Sen. Ram Villivalam 4/11/2025SenateRule 2-10 Committee Deadline Established As May 9, 2025 5/9/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 5/23/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 6/2/2025SenateRule 3-9(a) / Re-referred to Assignments 3/5/2026SenateAdded as Co-Sponsor Sen. Darby A. Hills