Illinois House Bill 2948 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

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, 2021 (now, January 1, 2011). Provides that the credit is equal to 7 1/2% of the qualifying expenditures for increasing research activities in this State for taxable years ending on or after December 31, 2011. Provides that the credit is refundable for taxpayers whose income for the taxable year is $50,000,000 or less. Requires the Department of Revenue and the Department of Commerce and Economic Opportunity to conduct a study of the effectiveness of the credit. Effective immediately.

INC TX-R AND D CREDIT-EXTEND

Rep. Michelle Mussman [D]	Rep. Jehan Gordon-Booth [D]	Rep. Mike Fortner [R]	Rep. Jack Franks [D]
Rep. Keith Farnham [D]	Rep. Carol Sente [D]	Rep. Linda LaVia [D]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2011-04-28	House	Added Co-Sponsor Rep. Linda Chapa LaVia
2011-04-28	House	Added Co-Sponsor Rep. Carol A. Sente
2011-04-28	House	Added Co-Sponsor Rep. Keith Farnham
2011-04-28	House	Added Co-Sponsor Rep. Jack D. Franks
2011-03-17	House	Rule 19(a) / Re-referred to Rules Committee
2011-03-03	House	Added Chief Co-Sponsor Rep. Mike Fortner
2011-02-28	House	Assigned to Revenue & Finance Committee
2011-02-23	House	Referred to Rules Committee
2011-02-23	House	First Reading
2011-02-23	House	Added Chief Co-Sponsor Rep. Jehan A. Gordon
2011-02-22	House	Filed with the Clerk by Rep. Michelle Mussman

Chapter	Article	Section	Citation Type	Statute Text
35	5	201	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2948&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB2948.htm