Illinois General Assembly - Bill Status for SB0491
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 Bill Status of SB0491  100th General Assembly


Short Description:  INC TX-R AND D CREDIT

Senate Sponsors
Sen. Win Stoller

Last Action
DateChamber Action
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

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
  2/23/2021SenateFiled with Secretary by Sen. Win Stoller
  2/23/2021SenateFirst Reading
  2/23/2021SenateReferred to Assignments
  3/3/2021SenateAssigned to Revenue
  3/19/2021SenateTo Revenue- Special Issues
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

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