Illinois General Assembly - Bill Status for SB2560

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Bill Status of SB2560 102nd General Assembly

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Short Description: INC TX-R AND D CREDIT

Senate Sponsors
Sen. Don Harmon

Last Action

Date	Chamber	Action
1/10/2023	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/201

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 taxable years (currently, 5 taxable years). Makes changes concerning the calculation of the credit. Effective immediately.

Actions

Date	Chamber	Action
2/26/2021	Senate	Filed with Secretary by Sen. Melinda Bush
2/26/2021	Senate	First Reading
2/26/2021	Senate	Referred to Assignments
3/23/2021	Senate	Assigned to Revenue
4/16/2021	Senate	Rule 3-9(a) / Re-referred to Assignments
12/31/2022	Senate	Chief Sponsor Changed to Sen. Don Harmon
1/10/2023	Senate	Session Sine Die

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