HB 6745 Illinois House · 93rd Regular Session

INC TAX-RESEARCH CREDIT

Summary

Amends the Illinois Income Tax Act. Reinstates the research and development credit beginning with taxable years ending on or after July 1, 2004 with changes. Provides that the credit is equal to 6.5% of the qualifying expenditures for research activities paid or incurred in this State during the taxable year. Provides that "qualifying expenditures for research activities" means those expenses defined as "qualified research expenses" under Section 41(b) of the Internal Revenue Code. Exempts the credit from the sunset requirements of the Act. Effective immediately.

Bill status failed 3 of 5 stages cleared

Introduction

Mar 2004

Committee Review

Apr 2004

House Passage

Mar 2004

Senate Passage

Governor

Introduced Mar 24, 2004 Last action Jan 11, 2005

Floor votes · House Mar 24, 2004

How they voted

75–30

Passed · 10 other

Total votes 115

Mar 24, 2004

D Democratic65

26 Yea 30 Nay 9

46% Nay

R Republican50

49 Yea 1

98% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jan 11, 2005

House · Failed

Session Sine Die

Apr 30, 2004

Senate · Referred to committee

Rule 3-9(a) / Re-referred to Rules

Apr 15, 2004

Senate · Referred to committee

Assigned to Revenue

Mar 25, 2004

Senate · Referred to committee

Referred to Rules

Mar 24, 2004

Senate · Introduced

Arrive in Senate

Mar 24, 2004

House · Passed

House Vote: pass (75-30-10)

Mar 4, 2004

House · Reported by committee

Do Pass / Short Debate Revenue Committee; 009-000-000

Feb 20, 2004

House · Referred to committee

Assigned to Revenue Committee

Feb 9, 2004

House · Referred to committee

Referred to Rules Committee

0 primary · 2 co-sponsors