summary
Introduced
02/05/2026
02/05/2026
In Committee
02/17/2026
02/17/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Effective immediately.
AI Summary
This bill makes the research and development (R&D) credit, which is a tax credit for businesses that invest in research activities in Illinois, a permanent provision under the Illinois Income Tax Act. Previously, this credit had an expiration date, but this legislation removes that limitation, ensuring its continued availability for businesses undertaking R&D in the state.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/17/2026)
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