SB 2523

  • Illinois Senate Bill
  • 97th Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Inc Tx-Extend R And D

Abstract

Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending on or after December 31, 2004, and ending prior to January 1, 2016 (now, January 1, 2011). Provides that the credit may not be carried forward to any taxable year ending on or after January 1, 2016. Amends the Illinois Enterprise Zone Act. Provides that enterprise zones shall be in effect for 35 (instead of 30) calendar years, or for a lesser number of years specified in the certified designating ordinance. Amends the Retailers' Occupation Tax Act and the Public Utilities Act to make conforming changes. Further amends the Public Utilities Act to provide that a business that is primarily engaged in manufacturing is exempt from the additional charges added to its utility bills as a pass-on of State utility taxes. Effective immediately.

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Jan 08, 2013

Senate

Session Sine Die

Mar 30, 2012

Senate

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

Mar 09, 2012

Senate

Rule 2-10 Committee Deadline Established As March 30, 2012

Mar 01, 2012

Senate

To Revenue Subcommittee on Tax Credits

Jan 31, 2012

Senate

Assigned to Revenue

Nov 08, 2011

Senate

Filed with Secretary by Sen. Kyle McCarter

Senate

Referred to Assignments

Senate

First Reading

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