SB 163

  • Illinois Senate Bill
  • 103rd Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Inc Tx-R And D Credit

Abstract

Amends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year in the base period (instead of 100% of the average of the qualifying expenditures for each year in the base period). Provides that the research and development credit applies on a permanent basis. Effective immediately.

Bill Sponsors (7)

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Mar 15, 2024

House

Rule 3-9(a) / Re-referred to Assignments

Jan 26, 2024

House

Added as Co-Sponsor Sen. Neil Anderson

Jan 10, 2024

House

Re-assigned to Revenue

Apr 17, 2023

House

Added as Co-Sponsor Sen. Craig Wilcox

Mar 29, 2023

House

Added as Co-Sponsor Sen. Win Stoller

Mar 28, 2023

House

Added as Co-Sponsor Sen. Dave Syverson

Mar 22, 2023

House

Added as Co-Sponsor Sen. Sally J. Turner

Mar 21, 2023

House

Added as Co-Sponsor Sen. Dale Fowler

Mar 10, 2023

House

Rule 3-9(a) / Re-referred to Assignments

Jan 31, 2023

House

Filed with Secretary by Sen. Donald P. DeWitte

House

Assigned to Revenue

House

Referred to Assignments

House

First Reading

Bill Text

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