Bob Biggins
- Republican
Primary
Amends the Illinois Income Tax Act concerning the research and development credit. Provides that, for taxable years ending on or after December 31, 2003, the credit is equal to 50% of the qualifying expenditures for research activities in this State incurred during the taxable year (now, equal to 6 1/2% of the qualifying expenditures for increasing research activities in this State, defined as the increase in qualifying expenditures over the average of the qualifying expenditures of the prior 3-year period). Exempts the credit from the sunset provisions of the Act (now, sunsets on December 31, 2004). Effective immediately.
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Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
Assigned to Revenue Committee
Added Co-Sponsor Rep. Rosemary Mulligan
First Reading
Filed with the Clerk by Rep. Bob Biggins
Referred to Rules Committee
Chief Co-Sponsor Rep. Sandra M. Pihos
Chief Co-Sponsor Rep. Sidney H. Mathias
Chief Co-Sponsor Rep. Bill Mitchell
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