Illinois General Assembly - Bill Status for SB1842
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 Bill Status of SB1842  9th General Assembly

Short Description:  INC TX-R & D CREDIT

Senate Sponsors
Sen. Linda Holmes and Michael W. Frerichs

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

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201

Synopsis As Introduced
Amends the Illinois Income Tax Act. Reinstates the research and development credit for taxable years ending prior to January 1, 2016 (now, January 1, 2011). 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, 2011. Effective immediately.

DateChamber Action
  2/9/2011SenateFiled with Secretary by Sen. Linda Holmes
  2/9/2011SenateFirst Reading
  2/9/2011SenateReferred to Assignments
  3/2/2011SenateAssigned to Revenue
  3/10/2011SenateTo Revenue Subcommittee on Tax Credits
  3/10/2011SenateAdded as Co-Sponsor Sen. Michael W. Frerichs
  3/18/2011SenateRule 3-9(a) / Re-referred to Assignments
  1/8/2013SenateSession Sine Die

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