Illinois House Bill 5717 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 10 2016 - 25% progression, died in committee
Action: 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Reinstates the research and development credit for tax years ending on or after January 1, 2016, and provides that the credit applies on a permanent basis. Provides that the credit may be carried forward for a period of 20 years (instead of 5 years). Creates an addition modification in an amount equal to the deduction for qualified domestic production activities allowed under Section 199 of the Internal Revenue Code for the taxable year. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the manufacturing and assembling machinery and equipment exemption includes graphic arts machinery and equipment and production related tangible personal property. Provides that the exemption for coal and aggregate exploration, mining, off-highway hauling, processing, maintenance, and reclamation equipment applies on a permanent basis. Effective immediately.

REVENUE-VARIOUS

Rep. Michael Zalewski [D]

Rep. Jerry Costello [D]

Rep. Kathleen Willis [D]

Date	Chamber	Action
2016-04-08	House	Rule 19(a) / Re-referred to Rules Committee
2016-03-30	House	Added Chief Co-Sponsor Rep. Jerry Costello, II
2016-03-29	House	To Sales and Other Taxes Subcommittee
2016-03-23	House	Assigned to Revenue & Finance Committee
2016-03-02	House	Added Co-Sponsor Rep. Kathleen Willis
2016-02-10	House	Referred to Rules Committee
2016-02-10	House	First Reading
2016-02-10	House	Filed with the Clerk by Rep. Michael J. Zalewski

Chapter	Article	Section	Citation Type	Statute Text
35	105	3-5	Amended Code	Citation Text
35	105	3-50	Amended Code	Citation Text
35	105	3-85	Amended Code	Citation Text
35	110	2	Amended Code	Citation Text
35	110	3-5	Amended Code	Citation Text
35	110	3-70	Amended Code	Citation Text
35	115	2	Amended Code	Citation Text
35	115	3-5	Amended Code	Citation Text
35	115	9	Amended Code	Citation Text
35	120	2-45	Amended Code	Citation Text
35	120	2-5	Amended Code	Citation Text
35	120	3	Amended Code	Citation Text
35	5	201	Amended Code	Citation Text
35	5	203	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5717&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB5717.htm