91st General Assembly
Summary of SB1439
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Short description: 
INC TAX-RESEARCH & DEV CREDIT                                              

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that  the  research      
   credit  shall  be for research activities in this State (now, only for      
   the increase from  previous  years  in  research  activities  in  this      
   State).   Defines  "qualifying  expenditures"  as  qualified  research      
   expenses,  as  defined  in  the Internal Revenue Code, if the research      
   activities are conducted by an entity that has its primary  office  in      
   this   State.    Provides   that   "qualifying  expenditures"  include      
   intellectual property development and protection expenditures  in  the      
   United  States  and  foreign  countries  incurred  for  the purpose of      
   protecting the results of research activities. Changes the sunset date      
   of the credit from December  31, 2004 to December 31, 2014.  Effective      
   January 1, 2001.                                                            
        SENATE AMENDMENT NO. 1.                                                
        Removes all of the amendatory  changes  in  the  introduced  bill      
   except  the  extension  of  the  sunset date from December 31, 2004 to      
   December 31, 2014.                                                          
        SENATE AMENDMENT NO. 3.                                                
        Changes the sunset of  the  credit  from  December  31,  2014  to      
   December 31, 2010.                                                          
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   2


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