Illinois General Assembly - Bill Status for HB5439

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Bill Status of HB5439 102nd General Assembly

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Short Description: INC TX-R AND D CREDIT

House Sponsors
Rep. David McSweeney - Ed Sullivan, Jr. - Keith P. Sommer - Joe Sosnowski

Last Action

Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/201

from Ch. 120, par. 2-201

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Provides that the credit may be carried forward for a period of 20 years (instead of 5 years). Increases the amount of the research and development credit by providing that the increase in qualifying expenditures shall be an increase over 50% (instead of 100%) of the average of the qualifying expenditures for each year in the base period. Effective immediately.

Actions

Date	Chamber	Action
2/11/2014	House	Filed with the Clerk by Rep. David McSweeney
2/11/2014	House	First Reading
2/11/2014	House	Referred to Rules Committee
2/19/2014	House	Added Chief Co-Sponsor Rep. Ed Sullivan, Jr.
2/20/2014	House	Added Chief Co-Sponsor Rep. Keith P. Sommer
2/27/2014	House	Added Chief Co-Sponsor Rep. Joe Sosnowski
12/3/2014	House	Session Sine Die

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