<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 5359         </title>
<shortdesc>INC TX-INNOVATION CREDIT</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Martin J. Moylan, Ryan Spain, Mark Batinick, Jay Hoffman and Jonathan "Yoni" Pizer</sponsors>
</sponsor>
<lastaction>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/201</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit in an amount equal to 1.3% of the qualified research expenses made by the taxpayer in Illinois. Provides that the taxpayer is not required to have obtained a research and development credit with respect to his or her federal income taxes to qualify for the Illinois research and development credit.</SynopsisText></synopsis>
<actions>
<statusdate>2/14/2020</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Martin J. Moylan</action>
<statusdate>2/18/2020</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/18/2020</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/18/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Ryan Spain</action>
<statusdate>2/27/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Mark Batinick</action>
<statusdate>3/5/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Jay Hoffman</action>
<statusdate>3/17/2020</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>5/21/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Jonathan "Yoni" Pizer</action>
<statusdate>6/23/2020</statusdate><chamber>House</chamber><action>Rule 19(b) / Re-referred to Rules Committee</action>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

