SEVERNS-GARCIA. 35 ILCS 5/201 from Ch. 120, par. 2-201 Amends the Illinois Income Tax Act. Provides that, for purposes of the research and development credit, partners and shareholders of Subchapter S corporations shall be allowed a credit in accordance with the determination of income and distributive share of income under Sections 702 and 704 and Subchapter S of the Internal Revenue Code. Provides that this amendatory Act is declarative of existing law and is not a new enactment. Effective immediately. 97-01-30 S FIRST READING 97-01-30 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-05 S ASSIGNED TO COMMITTEE REVENUE 97-02-27 S ADDED AS A CHIEF CO-SPONSOR GARCIA 97-02-28 S POSTPONED 97-03-06 S POSTPONED 97-03-06 S COMMITTEE REVENUE 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary