INC TX-R AND D CREDIT Senate SponsorsSen. Elgie R. Sims, Jr.-Mike Simmons 1/7/2025SenateSession Sine Die 35 ILCS 5/20135 ILCS 5/704AAmends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending prior to January 1, 2037 (currently, January 1, 2027). Provides that, in the case of qualifying quantum information science expenditures, the research and development credit shall be equal to 13% of the qualifying expenditures for increasing research activities in this State (currently, 6.5%). Provides that certain qualified startup taxpayers may elect to claim the credit against their obligation to pay withholding taxes. Effective immediately. 2/9/2023SenateFiled with Secretary by Sen. Elgie R. Sims, Jr. 2/9/2023SenateFirst Reading 2/9/2023SenateReferred to Assignments 2/21/2023SenateAssigned to Revenue 3/10/2023SenateRule 3-9(a) / Re-referred to Assignments 5/10/2023SenateAdded as Chief Co-Sponsor Sen. Mike Simmons 1/7/2025SenateSession Sine Die