Bill Status of HB 3003   103rd General Assembly

Short Description:  INC TX-R AND D CREDIT

House Sponsors
Rep. Joe C. Sosnowski, Jeff Keicher and Tom Weber

Last Action  View All Actions

DateChamber Action
  1/7/2025HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201

Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/16/2023HouseFiled with the Clerk by Rep. Joe C. Sosnowski
  2/16/2023HouseFirst Reading
  2/16/2023HouseReferred to Rules Committee
  11/16/2023HouseAdded Co-Sponsor Rep. Jeff Keicher
  11/21/2023HouseAdded Co-Sponsor Rep. Tom Weber
  1/7/2025HouseSession Sine Die

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