Illinois General Assembly - Bill Status for SB2523
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 Bill Status of SB2523  9th General Assembly

Short Description:  INC TX-EXTEND R AND D

Senate Sponsors
Sen. Kyle McCarter

Last Action
DateChamber Action
  1/8/2013SenateSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 655/5.3from Ch. 67 1/2, par. 608
35 ILCS 5/201from Ch. 120, par. 2-201
35 ILCS 120/1ffrom Ch. 120, par. 440f
220 ILCS 5/9-222.1from Ch. 111 2/3, par. 9-222.1

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.

DateChamber Action
  11/8/2011SenateFiled with Secretary by Sen. Kyle McCarter
  11/8/2011SenateFirst Reading
  11/8/2011SenateReferred to Assignments
  1/31/2012SenateAssigned to Revenue
  3/1/2012SenateTo Revenue Subcommittee on Tax Credits
  3/9/2012SenateRule 2-10 Committee Deadline Established As March 30, 2012
  3/30/2012SenateRule 3-9(a) / Re-referred to Assignments
  1/8/2013SenateSession Sine Die

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