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SB 3723 Illinois Senate · 101st Regular Session

INC TX-R AND D CREDIT

Summary
Amends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year in the base period (instead of 100% of the average of the qualifying expenditures for each year in the base period). Provides that the research and development credit applies on a permanent basis. Effective immediately.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2020
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2020 Last action May 15, 2020
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
17
Key actions
6
Committee
9
May 7, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As May 22, 2020
upper
Apr 30, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As May 15, 2020
upper
Apr 23, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As May 7, 2020
upper
Apr 16, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As April 30, 2020
upper
Apr 12, 2020
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
Mar 25, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As April 24, 2020
upper
Mar 18, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As April 2, 2020
upper
Mar 12, 2020
Committee
Assigned to Revenue
upper
Feb 14, 2020
Committee
Referred to Assignments
upper
0 primary · 2 co-sponsors

Sponsors

No sponsor information available.