Bill Status of HB5667 101st General Assembly
Short Description: INC TX-RESEARCH AND DEVELOP
Rep. Steven Reick, Jonathan "Yoni" Pizer, Terra Costa Howard and Mary Edly-Allen
| 1/13/2021||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, in the case of qualifying expenditures related to (i) clean energy technology, (ii) waste reduction, (iii) recycling, (iv) emissions reduction, (v) environmental sustainability, or (vi) biodegradable or compostable products, the research and development credit shall be 13% (currently, 6.5%) of the qualifying expenditures. Effective immediately.