INC TX-R AND D CREDIT

HB 4513 makes Illinois' research and development (R&D) tax credit permanent, removing its previous temporary status. This change directly affects businesses conducting qualified research activities in Illinois, allowing them to claim the credit indefinitely without needing annual legislative renewal. The bill amends Section 201 of the Illinois Income Tax Act to ensure the R&D credit remains available as a permanent provision, effective immediately upon enactment. It does not alter tax rates or create new requirements for taxpayers.