Illinois General Assembly - Bill Status for HB4670

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Bill Status of HB4670 101st General Assembly

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Short Description: INC TX-R AND D CREDIT

House Sponsors
Rep. Tony McCombie, Deb Conroy and Jonathan "Yoni" Pizer

Last Action

Date	Chamber	Action
1/13/2021	House	Session 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

Date	Chamber	Action
2/6/2020	House	Filed with the Clerk by Rep. Tony McCombie
2/18/2020	House	First Reading
2/18/2020	House	Referred to Rules Committee
5/22/2020	House	Added Co-Sponsor Rep. Deb Conroy
5/22/2020	House	Added Co-Sponsor Rep. Jonathan "Yoni" Pizer
1/13/2021	House	Session Sine Die

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