Illinois General Assembly - Bill Status for SB0657

Synopsis As Introduced
Amends the Illinois Income Tax Act. Reinstates the research and development credit for taxable years ending prior to January 1, 2018 (now, January 1, 2016). Increases the amount of the research and development credit from 6.5% to 8% of the qualifying expenditures for increasing research activities in this State for taxable years ending on or after December 31, 2015. Effective immediately.

Actions

Date	Chamber	Action
1/28/2015	Senate	Filed with Secretary by Sen. Matt Murphy
1/28/2015	Senate	First Reading
1/28/2015	Senate	Referred to Assignments
2/5/2015	Senate	Added as Chief Co-Sponsor Sen. Michael Connelly
2/11/2015	Senate	Assigned to Revenue
3/5/2015	Senate	To Subcommittee on Tax Credits
3/27/2015	Senate	Rule 2-10 Committee Deadline Established As April 24, 2015
4/24/2015	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2015
5/15/2015	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2015
10/10/2015	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
1/10/2017	Senate	Session Sine Die

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