Illinois 98th Regular Session Status: In Committee 1 D cosponsors

SB 1672 — INC TX-R & D CREDIT

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 98th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Illinois Income Tax Act. Reinstates the research and development credit for taxable years ending prior to January 1, 2018 (now, January 1, 2016). Increases the amount of the research and development credit from 6.5% to 8% of the qualifying expenditures for increasing research activities in this State for taxable years ending on or after December 31, 2013. Effective immediately.

Bill Text

How this bill changes current law

2 changes Share ↗

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This bill reinstates and increases the research and development credit under the Illinois Income Tax Act.

  • 35 ILCS 5/201

    January 1, 2016 → January 1, 2018

    The deadline for claiming the research and development credit is extended by two years.

  • 35 ILCS 5/201

    6.5% → 8%

    The amount of the research and development credit is increased from 6.5% to 8% of qualifying expenditures.

Action History

  1. Session Sine Die

  2. Rule 3-9(a) / Re-referred to Assignments

  3. To Subcommittee on Tax Credits

  4. Assigned to Revenue

  5. Referred to Assignments

  6. First Reading

  7. Filed with Secretary by Sen. Matt Murphy

Sponsors

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1672 do?
Amends the Illinois Income Tax Act. Reinstates the research and development credit for taxable years ending prior to January 1, 2018 (now, January 1, 2016). Increases the amount of the research and development credit from 6.5% to 8% of the qualifying expenditures for increasing research activities in this State for taxable years ending on or after December 31, 2013. Effective immediately.
Who sponsors SB 1672?
SB 1672 is sponsored by Laura M. Murphy (Democrat).
What is the current status of SB 1672?
This bill died with 98th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1672?
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Last checked for changes 3 months ago · updated continuously

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