Bill Status of HB 4766   103rd General Assembly

Short Description:  INC TX-TECHNOLOGY CREDITS

House Sponsors
Rep. Mark L. Walker

Last Action  View All Actions

DateChamber Action
  1/7/2025HouseSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 605/605-1115 new
35 ILCS 5/201
35 ILCS 5/241 new

Synopsis As Introduced
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall award income tax credits in an amount equal to 13% of the qualifying quantum information science expenditures made by the taxpayer during the taxable year. Amends the Illinois Income Tax Act to make conforming changes. Further amends the Illinois Income Tax Act to extend the research and development credit to tax years ending before January 1, 2037 (currently, January 1, 2027). Effective immediately.

Actions 
DateChamber Action
  2/5/2024HouseFiled with the Clerk by Rep. Mark L. Walker
  2/6/2024HouseFirst Reading
  2/6/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Revenue & Finance Committee
  3/8/2024HouseTo Revenue-Income Tax Subcommittee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee
  1/7/2025HouseSession Sine Die

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