IL HB5359 | 2019-2020 | 101st General Assembly

Status

Spectrum: Bipartisan Bill
Status: Introduced on February 14 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obtained a research and development credit with respect to his or her federal income taxes to qualify for the Illinois research and development credit.

Tracking Information

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Title

INC TX-INNOVATION CREDIT

Sponsors


History

DateChamberAction
2020-06-23HouseRule 19(b) / Re-referred to Rules Committee
2020-05-21HouseAdded Co-Sponsor Rep. Jonathan "Yoni" Pizer
2020-03-17HouseAssigned to Revenue & Finance Committee
2020-03-05HouseAdded Co-Sponsor Rep. Jay Hoffman
2020-02-27HouseAdded Co-Sponsor Rep. Mark Batinick
2020-02-18HouseAdded Co-Sponsor Rep. Ryan Spain
2020-02-18HouseReferred to Rules Committee
2020-02-18HouseFirst Reading
2020-02-14HouseFiled with the Clerk by Rep. Martin J. Moylan

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355201Amended CodeCitation Text

Illinois State Sources


Bill Comments

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