WATSON. (STEPHENS-HOFFMAN-HOLBROOK) 35 ILCS 5/201 from Ch. 120, par. 2-201 Amends the Illinois Income Tax Act. Provides that the research credit shall be for research activities in this State (now, only for the increase from previous years in research activities in this State). Defines "qualifying expenditures" as qualified research expenses, as defined in the Internal Revenue Code, if the research activities are conducted by an entity that has its primary office in this State. Provides that "qualifying expenditures" include intellectual property development and protection expenditures in the United States and foreign countries incurred for the purpose of protecting the results of research activities. Changes the sunset date of the credit from December 31, 2004 to December 31, 2014. Effective January 1, 2001. SENATE AMENDMENT NO. 1. Removes all of the amendatory changes in the introduced bill except the extension of the sunset date from December 31, 2004 to December 31, 2014. SENATE AMENDMENT NO. 3. Changes the sunset of the credit from December 31, 2014 to December 31, 2010. 00-01-26 S FIRST READING 00-01-26 S REFERRED TO SENATE RULES COMMITTEE RULES 00-02-09 S ASSIGNED TO COMMITTEE REVENUE 00-02-17 S AMENDMENT NO. 01-REVENUE S 00-02-17 S ADOPTED 00-02-17 S AMENDMENT NO. 02-REVENUE S 00-02-17 S TO SUB-COMMITTEE 00-02-17 S DO PASS AS AMENDED 008-002-000 SREV 00-02-17 S PLACED ON CALENDAR ORDER OF 2ND READING 00-02-22 00-02-22 S FILED WITH SECRETARY 00-02-22 S AMENDMENT NO. 03-WATSON 00-02-22 S AMENDMENT REFERRED TO SRUL 00-02-23 S SECOND READING 00-02-23 S PLACED ON CALENDAR ORDER OF 3RD READING 00-02-24 00-02-23 S AMENDMENT NO. 03-WATSON 00-02-23 S BE APPROVED FOR CONSIDERATION SRUL 00-02-24 S RECALLED TO SECOND READING 00-02-24 S AMENDMENT NO. 03-WATSON 00-02-24 S ADOPTED 00-02-24 S PLACED ON CALENDAR ORDER OF 3RD READING 00-02-25 00-02-24 S THIRD READING - PASSED 059-000-000 00-02-24 S TABLED PURSUANT TO RULE 5-4(A) SA 02 00-02-24 S THIRD READING - PASSED 059-000-000 00-02-25 H ARRIVE IN HOUSE 00-02-25 H HOUSE SPONSOR STEPHENS 00-02-25 H FIRST READING 00-02-25 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-02-29 H ADDED AS A JOINT SPONSOR HOFFMAN 00-02-29 H ADDED AS A JOINT SPONSOR HOLBROOK 00-04-07 H MOTION FILED TO DISCHARGE COMMITTEE RULES FROM FURTHER 00-04-07 H CONSIDERATION AND 00-04-07 H ADVANCE TO THE 00-04-07 H ORDER OF 2ND RDING 00-04-07 H -STEPHENS 00-04-07 H COMMITTEE RULES 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary